On Friday, the U.S. Department of Labor announced the national unemployment rate jumped to 9.8 percent in November. The figure marks a seven-month high, and an increase from 9.6 percent in October. Despite consistently high unemployment and a stagnant economy, the Obama Administration continues to allow the diversion of billions of dollars a month in federal small business contracts to large businesses.
Small businesses are the backbone of the nation's economy. According to the U.S. Census Bureau, small businesses are responsible for more than 90 percent of net new jobs, 50.2 percent of the non-farm private sector workforce, 50 percent of the gross domestic product (GDP) and 90 percent of exports and innovations.
More than a dozen federal investigations have uncovered the diversion of billions of dollars a month in federal small business contracts to corporate giants. In Report 5-15, the Small Business Administration Office of Inspector General (SBA IG) described the issue as, "One of the most important challenges facing the Small Business Administration and the entire Federal government today."
Despite promising to end the abuse in February of 2008, the Obama Administration's most recent contracting data indicates the recipients of federal small business contracts include: Lockheed Martin, Boeing, Raytheon, Northrop Grumman, Dell Computer, British Aerospace (BAE), Rolls-Royce, French giant Thales Communications, Ssangyong Corporation headquartered in South Korea, and the Italian firm Finmeccanica SpA.
The American Small Business League (ASBL) estimates that during the Obama Administration over $300 billion in federal contracts earmarked for small businesses have been diverted to corporate giants.
This abuse is destroying our economy, and yet the Obama Administration is refusing to take action. It's irresponsible. Ending the diversion of federal small business contracts to Fortune 500 firms would do more to stimulate the middle class economy, and create jobs than anything President Obama has proposed to date.
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There is also the problem of the civil servants who operated most gov ' agencies. After 10 years of Bush they packed the jobs with their people so their policies would continue.
Proof, yet again, that the federal government is inept in its redistribution of wealth ideology.
Another good reason not to raise taxes on anyone during a recession.
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(Everyone Deserves a Roof). I did and I must say this Hobo Codo has everything except power and water.
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At night, the EDAR unit easily hinges out and down to Night Mode in less than 30 seconds, becoming a sleeping unit. The metal and wood base has a mattress and military-grade canvas cover, providing a robust tent-like shelter. The unit is flame-retardant, waterproof, windproof and helps protect from the elements.
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http://www.youtube.com/watch?v=tM6CuCjUTdk
Lloyd, when will one of your stories on this be the lead on the front page?
It tells the real tale of how Obama has capitulated to the oligarchs and cares nothing for the middle class or the jobs we need.
Keep up the good work.Maybe someone of consequence will actually read one, someday, and do the right thing.
Chapman is one of the best bloggers you have and his stuff never goes front and center where it belongs. And censoring my opinion about it is just 'bush' league.
or since 2000 ?
they will not come back,
BUSinsess people know that JOBS are GONE................and some jobs will not be created Until there is DEMAND .......which means UNTIL PEOPLE FEEL RICH again..and want to spend not save !!
WHERE ARE THE JOBS ! ....... GONE OVERSEAS thanks to Globalization.
JOBLessness is HERE to stay for a long long while.
Bush pawned his country in China to fund vainglorious dreams of significance in war, politics, and social change. All but the last failed. The US has actually undeveloped and its economy is distorted by a hyped standard of living on the tab. China won and the transfer of wealth and tech there is the result. Now US corporations have more assets and IP offshore than here. Their political donations are foreign money.
Obama's export drive is getting some results. But it will take more than that.
What's your plan?
America had everything going fo it...............bcame the only Superpower .that should have ushured better era and for a while it did because we had PEACE.
Then the Deregulation allowed creation of BUBBLEs and of course all these decisions were for some to MAKE MILLIONS and others to lose their Homes and Savings.
So
As for your question for my PLAN ?
I just know that . FIRST we have to recognize that BAD decisions were made , because they were ANTI-America and Anti -Americans and PRO- financial Oligarchs
but with the LACK of HONEST discourse and a divided people there is a stalemate.
The most important PLAN we can have is TO CREATE JOBS........but i cannot do that.
JOBS are everything.
and yes the export idea is good for jobs..........Actually the idea of Globalization was in the hope that the WORLD would grow and China and India would have a middle class and threy would buy Amercan products .............made in China etc....
It tells the real tale of how Obama has capitulated to the oligarchs and cares nothing for the middle class or the jobe we need.
Keep up the good work.Maybe Ari Annna will actually read one, someday, and do the right thing.
THAT would have helped ALL Businesses and all the American People.
your friend probably does not give Health benefits., but at least he and his employees would b happy to have a Medicare card even if they do not have jobs
it is only
DEMAND ie people having $$$$$$$ that can be COMSUMERS that can help his repair shop.