In the midst of the worst economic downturn in U.S. history, President Obama is abolishing the nation’s oldest and most successful program to direct infrastructure spending to minority-owned small businesses, which could cost them between $25 and $50 billion a year. The President has continued to allow billions of dollars a month in federal small business contracts to be diverted into the hands of big businesses. His administration tried to cover up the diversion of federal small business contracts to corporate giants by destroying data in the Federal Procurement Data System such as the “small business flag” and the “parent DUNS number,” that allowed watchdogs like myself, and the media, to monitor the actual recipients of federal small business contracts.
And now, President Obama will reauthorize a Department of Defense program known as the Comprehensive Subcontracting Plan Test Program (CSPTP) that makes it easier for prime contractors to cheat small businesses out of billions. Under the CSPTP, large defense contractors are exempt from reporting their subcontracting actions and also exempt from any penalty of non-compliance with congressionally mandated small business procurement goals.
The idea of the CSPTP is ludicrous.
Small business you say? Why… I have one of those…
But thats not a requirement to see that this is bullshit of the highest order. read the article and weep.
The bottom line here is that in the U.S., small businesses equal jobs. Taxes, on the other hand do not create jobs. But for some reason, the mainstream media seems more concerned with the handful of pennies that the President and Congress are bickering over in payroll tax cuts than the billions of dollars that are diverted away from small businesses by the federal government every month.