Ronald Reagan tried to permanently close the Small Business Administration (SBA) during his administration. Reagan's method of closing the SBA was to combine it with the Department of Commerce.
In November of 2008 I predicted President Obama would try and permanently close the SBA as Ronald Reagan did by combining it with the Department of Commerce.
As I predicted, in January of 2012 President Obama announced his plan to resurrect the Reagan plan to close the SBA by combining it with the Department of Commerce. Obama did learn a valuable less from Ronald Reagan. He learned "closing the SBA" is almost impossible but "streamlining government" by combining agencies would be a lot easier.
Not one journalist reported that I had accurately predicted President Obama's attempt to close the SBA years earlier. No journalist contacted me and asked me how I knew.
President Obama claimed the federal government could save $300 million a year by combining the SBA and the Department of Commerce. No journalist reported how absurd that was. The SBA budget is a measly .001 percent of the Pentagon budget. If you were really trying to save the taxpayers some money, the SBA would be the last place to look.
President Obama saying he is going to close the SBA to save $300 million would be like you and me announcing we were going to start buying our shoelaces in packs of 20 to save money while we squandered $100,000 a month on gambling and illegal drugs.
It is unlikely even one journalist will report that while President Obama says he is closing the SBA to save $300 million a year, he is also planning to spend $7 billion to build power plants in Africa. That's right; Obama's Power Africa plan will cost U.S. taxpayers $7 billion. That would be enough to fund Obama's $300 million savings for over 20 years or fund the SBA for a decade at its current budget.
No journalist will report that according to the U.S. Census Bureau, small businesses are responsible for over 90 percent of net new jobs, over 50 percent of the private sector workforce and over 50 percent of the GDP. Not one journalist will report that there is only one little federal agency to assist those 28 million small business where most Americans work and President Obama is going to close it to allegedly save a mere $300 million a year.
Not one journalist will report that while President Obama claims the federal government will save $300 million a year by closing the SBA, he will continue to allow the Pentagon to lose around $175 billion a year. That's right boys and girls, the Pentagon's own auditors found that the Pentagon cannot account for 25 percent of their expenditures.
That works out to about $700 million a day. That means the Pentagon LOSES enough money, each and every day, Monday through Friday, to fund the SBA for a year.
That means during the workweek, the Pentagon LOSES about $86 MILLION AN HOUR. But President Obama is going to close the SBA to save $300 million a year. That makes sense doesn't it?
One journalist from the mainstream media could save the SBA and all the federal programs to assist the 28 million small business that create over 90 percent of net new jobs in America. Just one. Don't hold your breath.
With the knowledge, consent and assistance from the mainstream media, I predict President Obama will be able to successfully close the SBA by combining it with the Department of Commerce. Not one journalist in America will question the logic of combing the only agency in government to help small businesses with the agency that represents the largest CORPORATE GIANTS in America.
Here is a little hint as to the real reason President Obama really wants to close the SBA. It's a quote from President Obama from February of 2008.
"It is time to end the diversion of federal small business contracts to corporate giants."
Every year of the Obama administration, billions of dollars a year in federal small business contracts have been diverted to Fortune 500 firms or "corporate giants" as President Obama calls them. Every year President Obama has been in office, the Inspector General for the SBA, Peg Gustafson, an Obama appointee, has named the diversion of federal small business contracts to "corporate giants" as the most rampant problem at the SBA. Using the Freedom of Information Act, I recently forced the SBA to release the names of all the firms that received federal small business contracts for last year. Guess what, 235 Fortune 500 firms received federal small business contracts.
If I was the president, and I was trying to cover up billions of dollars in fraud at the SBA, you know what I would do? I would say I was "streamlining government" and combining the SBA with the federal agency that represented the very "corporate giants" that have been allowed to hijack federal small business contracts for over a decade.
I would know I could get away with it too because my pals in the mainstream media will make sure no one ever knows the truth.
For the latest video from the ASBL, click here.