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Thursday, August 11, 2011
Boomer with Attitude Sen. Richard Burr's recession solution? Abolish Small Business Administration
Posted By John Grooms on Thu, Aug 11, 2011 at 1:06 PM
North Carolina’s U.S. Sen. Richard Burr has thought of an extraordinary way to help out America’s small businesses: do away with the federal organization that serves them. Burr has sponsored a new bill, the "Department of Commerce and Workforce Consolidation Act," which would combine the Small Business Administration (SBA) with the Commerce Department. There are 28 million small businesses in America, which create more than 90 percent of the nation’s new jobs, and yet the SBA has been a favorite Republican whipping boy for decades. As economist Lloyd Chapman points out, getting right to the chase, “The motivation behind this bill is to redirect the 23 percent of all federal contracts that should be going to small businesses into the hands of the nation's largest corporations. Furthermore, the door will [then] be shut on the decade-long scandal of diverting small business contracts to Fortune 500 firms through false certifications and vendor deception.”
In a time when some of the country’s largest, not to say most bloated, corporations have practically tanked the U.S. economy, it’s heartwarming to see a Republican U.S. senator, particularly one from North Carolina, who will stand up to his party’s Fortune 500 “base,” and come to the rescue of the small businesses that are the backbone of our economy. Yes, that’s sarcasm.
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