Glenn Beck: The Death of Small Business with Lloyd Chapman

Recently, Glenn Beck and American Small Business League President Lloyd Chapman discussed the death of small businesses on Fox. The segment really speaks to the importance of small businesses to our nation's economic recovery.

During the segment, Chapman discusses the impact of fraud and abuse on federal small business contracting programs and the greater implications of those abuses on the small business community and our economy.

During the interview Beck asked, "I saw 14 percent of small businesses fear they're going to be closing their doors in the next 12 months because of these policies. Is that true?" To which, Chapman replied, "Yes. In fact, quite frankly, it could be even higher than that. When you look at the $2.3 trillion the government has spent to stimulate the economy, not one -- not one dime of that, Glenn, has gone to small businesses. So, so far, 100 percent of that $2.3 trillion has gone to the top 1 percent of American companies."

Small businesses are the backbone of our nation's economy. They are the engine that drives our American economy, in the car that takes Americans to work. According to the U.S. Census Bureau, 90 percent of all companies nationwide have 20 employees or less and those firms are responsible for 97 percent of net new jobs.

It is time for the Obama Administration and our nation's legislators to stop fraud and abuse in federal economic stimulus programs for small businesses.