Market Overview

Lloyd Chapman: Romney's Only Chance To Be President Is To Expose Obama's Dirty Little Secret


The following is a statement by the American Small Business League:

Governor Romney lost two of the three debates. All the polls indicate he is trailing President Obama. In a nation that chooses its president by tenths of a percent, Governor Romney isn't even close to being elected.

President Obama leads Governor Romney two to one with early Ohio voters. The latest polls show 60 percent for Obama and 30 percent for Romney. Since 1960, no president has been elected without carrying Ohio.

I have a simple plan for Governor Romney that could dramatically impact his pole numbers and give him a real shot at the White House.

He should stop talking about Benghazi and the host of other issues most Americans don't understand or care about. The fact is that the number one issue in this election is job creation. If Mitt Romney really wants to be president, he needs to simply reveal President Obama's biggest dirty little secret.

Every day President Obama has been in office, his administration has knowingly, willfully and intentionally diverted federal funds earmarked for middle class small businesses to hundreds of the largest corporate giants around the world.

How do we know this? Every year President Obama has been in office, the Small Business Administration Office of Inspector General (SBAOIG) has named the diversion of federal small business contracts to corporate giants as the number one management challenge at the SBA.

According to the latest federal data, of the top 100 recipients of federal small business contracts, 72 are large business. Some of the firms the Obama administration has given small business contracts include IBM, Hewlett-Packard, Oracle, Raytheon, L-3 Communications, Motorola and Boeing. The Obama administration has even awarded U.S. Government small business contracts to foreign-owned firms, such as British Aerospace, Thales, Italian defense giant Finmeccanica and a defense broker owned by the Russian government named Rosoboronexport.

The single largest federal program to create jobs and stimulate the middle class economy is the Small Business Act. That law mandates that a minimum of 23 percent of the total value of all federal contracts be awarded to small businesses. The Small Business Act is likely the most efficient and effective economic stimulus program in history.

According to the latest data from the U.S. Census Bureau, small businesses are responsible for over 90 percent of net new jobs. They employ 50 percent of the private sector workforce, generate over 50 percent of the gross domestic product, and 90 percent of all U.S. exporters are small business.

Obviously it makes sense to everyone except President Obama to invest at least 23 percent of all federal contracts with the 27 million American small businesses that are responsible for over 90 percent of the net new jobs.

The Obama administration has gone to great lengths to cover up their wholesale diversion of federal small business contracts to hundreds of the largest firms in the world. President Obama went so far as to remove the parent company Dun & Bradstreet number from the federal government's procurement database to try and cover up the fact that most of the recipients of small business contracts are actually fronts for many of the largest firms in the world.

So if Governor Romney really wants to be elected president, it's time to start playing hardball and expose President Obama's dirty little secret—that all his incessant rhetoric about investing in the middle class and creating jobs is a lie.

American Small Business League
Lloyd Chapman, 707-789-9575

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