Video from Lloyd Chapman’s NBC investigative unit, explains how money is allocated by the SBA that totals $422 billion annually.
Pentagon retired Commander Terrence Sutherland has been appointed by the Obama administration to lead all "press" related issues, when it comes to the Small Business Administration, that distributes money to small businesses in need of an economic boost.
Any investigation into the SBA will now be answered by a former Pentagon employee, Commander Terrence Sutherland, that according to the American Small Business League (ASBL):
handled many of the Department of Defense's (DoD) most sensitive issues for over a decade during his career
The United States government's goal has been to give at least 23% of all SBA money to small businesses. Many Americans believe all the money for "small businesses" should be given to small businesses, but the Obama administration can't even seem to keep the minimally required quota.
The ASBL reports that many of the SBA contracts with large companies have come directly from government agencies under the Obama administration:
- The U.S. Department of Energy contracted $4.8 to a company who's parent is IBM
- A $1 million dollar contract from the IRS with Oracle, and a
- $550,000 contract with the U.S. Forrest Service and Microsoft
One good reason Obama may want a deeper connection with the Small Business Administration, is because of the reported billions of dollars that have been given to these large corporations, some others include:
Rolls Royce, Lockheed Martin, Boeing, Raytheon, Hewlett-Packard, Bechtel, Finmeccanica in Italy, Thales Group in France and Rosoboronexport in Russia.
American small businesses provide over half the jobs in America. Many small businesses are already struggling with the economic downturn. They also face further financial difficulties in trying to meet future needs for the Affordable Health Care Act (Obamacare). American unions have also rallied to make adjustments to Obamacare, or overturn it all together. Less money for small businesses can also lead to further unemployment. This is not good news for small business or the U.S. economy.