Obama Continuing Bush’s Anti-Small Business Policies
Or so says the American Small Business League in a statement released Monday:
President Barack Obama has outraged small business owners across the country by continuing Bush Administration policies that divert federal small business contracts to Fortune 500 firms.
Since 2003, over a dozen federal investigations have been released, which found billions of dollars in federal small business contracts have actually wound up in the hands of some of the largest firms in the United States and Europe.
In 2005, the SBA’s own Office of Inspector General referred to the diversion of federal small business contracts to corporate giants as, “One of the most important challenges facing the Small Business Administration and the entire Federal government today.”
On the campaign trail, Obama promised to do something about it saying: “It is time to end the diversion of federal small business contracts to corporate giants.” Once in office, however:
President Obama has consistently refused to propose any policies or legislation to address the issue. President Obama refused to include any solutions to the issue in any of his small business rescue and stimulus plans. Since President Obama has taken office, approximately $2 billion a week in federal small business contracts have gone to Fortune 500 firms and thousands of other large businesses.
Why should this worry you? Well, it is very simple, really. Small businesses are the backbone of the American (and any for that matter) economy. The economy as a whole cannot thrive unless small business thrive. It is absolutely vital for a vibrant economy to have successful small businesses. Entrepreneurship has to be encouraged – nto monopolized out of existence.
It is one of the many campaign promises Obama broke during his first 100 days in office. We can only hope he will change his tune in the coming months – if not, small businesses and the economy as a whole will continue to suffer.
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What happened to “change?” Now, I know Obama is only human and I do not expect him to put on a cape and catch falling buildings, however, this issue seems like it has a fairly simple solution that does not require super hero powers.
From my understanding, and correct me if I am wrong, there are government contracts floating around out there that are worth billions of dollars and a certain percentage of those contracts, by law, are required to go to actual small businesses, but the truth of the matter is that the largest corporations in the world are reaping the benefits.
It seems simple really. Small businesses are the backbone of our nations economy. Our economy is in terrible, if not worse, condition. Therefore, we need to financially support small businesses to fix our economy.
I think the multi-billion dollar question here is, “President Obama, why are you allowing Fortune 500 firms to receive money meant to go to small businesses after reports and investigations prove it may be the most serious issue facing small businesses today?”