Petaluma, Calif. - President Barack Obama's stimulus bill spending ignores America's 27 million small businesses and may have failed so far, in part because of that omission.  The Dow has now plunged to its lowest levels in 12 years.

President Obama's stimulus plan lacks any language that would direct any of the stimulus bill's spending to the small businesses that create over 98 percent of all new jobs. President Obama has also refused to address widely reported abuses in existing government economic stimulus programs for small businesses. (https://www.asbl.com/news.php) 

Critics from Rush Limbaugh to Bill Clinton have acknowledged the bill should have done more for small businesses. (http://www.rushlimbaugh.com/home/daily/site_030209/content/01125106.guest.html, http://blogs.wsj.com/independentstreet/2009/02/17/bill-clinton-stimulus-package-should-do-more-for-small-business/) 

According to the latest statistics from the U.S. Census Bureau, over 98 percent of all U.S. firms have 100 employees or less. These firms employ over 50 percent of the private sector work force and are responsible for 98 percent of new jobs in America. (https://www.asbl.com/documents/INKSBAReport.pdf) 

Economic experts agree that directing federal infrastructure spending to small businesses is the most efficient path to creating jobs and stimulating America's economy, but President Obama has refused to adopt any such plans. (http://www.youtube.com/watch?v=jR-fWcpkOHM) 

Since 2003, more than 15 federal investigations have found hundreds of billions of dollars in federal contracts earmarked for small businesses have been diverted to Fortune 500 firms. President Obama seemed to acknowledge the magnitude of the problem during his campaign when he released the statement, "It is time to end the diversion of federal small business contracts to corporate giants."
(ABC, https://www.asbl.com/abc_evening_news.wmv; CBS, https://www.asbl.com/cbs.wmv; CNN, https://www.asbl.com/showmedia.php?id=1170,  http://www.barackobama.com/2008/02/26/the_american_small_business_le.php) 

To date, President Obama has refused to support legislation and policies that would stop fraud and abuse in federal small business contracting programs.

The American Small Business League (ASBL) has urged President Obama to adopt policies that address the abuses in existing government economic stimulus plans for small businesses, and to include language in the stimulus bill that directs more federal spending to small businesses.

"It defies all reason and logic to try and stimulate the economy, and create millions of jobs by directing 100 percent of the stimulus bill spending to the top 1 percent of U.S. firms, when government statistics clearly show small businesses create 98 percent of all new jobs in America," ASBL President Lloyd Chapman said.

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