CA Small Businesses Hard Hit by President's Budget Cuts

[True_Blue]

(Washington, DC) - As House Republicans fight over their stalled budget proposal, a recent report finds that small businesses received the brunt of the President's budget cuts. Congresswoman Barbara Lee (D-Oakland), along with the other Democratic members, released a report analyzing the impact of the FY2007 budget on small businesses, including those in California. The report found that the administration has once again proposed cuts and eliminations to small business programs by a disproportionate amount. The FY 2007 budget request reduces funding or terminates 75 out of the 100 government-wide small business programs, affecting every portion of the small businesses community.

"Small businesses are the drivers of this economy and it is unacceptable that the President's budget proposal does not give them the tools they need to be successful," said Lee. "This nation's 23 million small businesses need a budget that reflects their value to the economy. The President's proposal simply does not do this."

The report found that nearly 40 of the small business programs in this year's request were cut by over 80 percent, with nearly a half of the 100 small business programs slated for termination. Adding to the disturbing trend is that the agencies that administer the highest number of programs that provide assistance to small businesses - the U.S. Department of Agriculture (USDA), the Small Business Administration (SBA) and the Department of Labor (DOL) - all received significant cuts. While the Bush administration claims the cuts are necessary, the spending cuts to the small business programs make up a mere 1.5 percent of the total $423 billion U.S. budget deficit. For every dollar that is invested in a number of the small business initiatives, three dollars are generated in tax revenue, raising concern as to why small firms are increasingly targeted.

more....
http://www.californiachronicle.com/articles/viewArticle.asp?articleID=8120

[Erika]

1. Exxon CEO was paid $6,000 an hour

W can't be bothered by such things as small business. He's got his oil buddies. Those that put him in office.

W could care less about working Americans. He doesn't even know they exist and could care less if they do. He has his priorities and life's experiences. They all tell him that profit for the rich is the way to go.

[lovuian]

2. Only the Rich have become very happy!!!

not the poor...

[Erika]

3. nor the middle class n/t

[Wilms]

4. There's still a middle class? n/t