10/03/2012 06:17 pm ET Updated Dec 06, 2017

One Question for President Obama Could Boost the Economy

I believe that if one journalist on the White House Press Corps or one journalist at a major campaign stop were to simply ask President Obama one question, it could kick off a firestorm in our government that could create millions of jobs.

That question would be this: Why is your administration diverting federal funds, that by law should be going to small businesses, to some of the biggest companies around the world?

When I'm trying to be persuasive I like to stick to the facts -- so let's look at the facts: According to the latest U.S. Census Bureau data, small businesses are responsible for more than 90 percent of all net new jobs. A report by the Kauffman Foundation concluded that small businesses have created virtually 100 percent of all net new jobs since 1980.

It's irrefutable and cannot be denied that America's 28 million small businesses are responsible for the overwhelming majority of all net new jobs in the U.S. The thing that startles me is that you never see anyone in the media talk about this. You can watch every major news channel for a week. They'll talk about the economy and jobs but you'll never hear anyone mention that small businesses are the irrefutable engine of job creation in America.

Congress realized how important small businesses were back in the 1950s when they passed the Small Business Act. Today that law mandates that a minimum of 23 percent of federal spending be directed toward small businesses.

Unfortunately, since 2003 a series of federal investigations have found that billions of small business dollars wind up in the hands of large companies here in the U.S. and even some of the biggest companies around the world.

Some of the large firms that have received federal small business contracts during the Obama administration include Lockheed Martin, Boeing, Raytheon, Office Depot, AT&T and Italian defense giant Finmeccanica.

President Obama seemed very sympathetic of the issue and pledged to stop it during his campaign in 2008 when he said, "It's time to end the diversion of federal small business contracts to corporate giants." And yet, he's done just the opposite. The volume of federal small business contracts being diverted to large corporations has only gone up since he has been elected.

The most recent data from the Federal Procurement Data System indicates that, of the top 100 recipients of federal small business contracts in FY 2011, 72 were large businesses. A story recently came out about a Russian state-owned arms dealer called Rosoboronexport receiving more than $370 million in federal small business contracts.

I've been fighting the government on this issue for more than a decade and it's not going to stop until journalists start asking about it. If a journalist would ask President Obama why his administration awards small business funds to corporate giants around the world, it would be the first time he would be forced to answer that question. I believe it could lead to the Obama administration being forced, in this critical election time, to adopt policies to simply stop giving small business contracts to Fortune 500 firms. This would direct more money to the middle class than anything President Obama or President Bush ever proposed.