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Wednesday, May 30, 2007

2008 Presidential Candidates Ignore Backbone of U.S. Economy, According to a Study By My Success Gateway LLC

Petaluma, Calif.- A recent study by My Success Gateway, LLC ( has found that the websites of the 2008 Presidential candidates Barack Obama, Hillary Clinton, Mitt Romney, John Edwards and Rudy Giuliani lack a concentration on solutions for small businesses, seniors and veterans. This is an interesting fact considering that more than 75 million votes are collectively shared between the 25 million small businesses, the 38 million members of the American Association for Retired Persons and the more than 25 million veterans in the United States, says the American Small Business League.

On August 15, 2001, President George W. Bush addressed the Hispano Chamber of Commerce in Albuquerque, New Mexico and in regards to the economic impact of small businesses in America stated, "Most of the new employment in America comes from small-business owners. Small business is the backbone-is the backbone of our economic system."

Contradictory to this statement the Bush Administration has taken action to cut the Small Business Administration's budget significantly during the course of their term. In 2001, the last year in the Clinton administration, the SBA's budget was $1.1 billion. However, at the inception of the Bush Administration the SBA budget proceeded to drop to $579.5 million in 2005 and $456.5 million in 2006, according to a November 21, 2005 article in Inc Magazine.

"It is amazing that this field of candidates are absent of any solutions to strengthen small businesses, the backbone of the U.S. Economy," said Jim Peake of My Success Gateway LLC, a resource for entrepreneurs and small businesses. "Looking at the numbers the current administration has eroded the backbone and America is asleep at the wheel, probably paying more attention to the personal business of Paris Hilton than to the small business backbone of America."

It is concerning that candidates expressed more interest on the war in Iraq, Immigration and wedge issues than the small businesses that make up the backbone of the U.S. economy. "What the candidates fail to realize is that small businesses are funding a significant portion of the war in Iraq, and carrying a heavy burden in repaying the national debt," expressed Peake.

For Instance, in the State of New Hampshire there are 31,593 employer firms with fewer than 500 employees and those firms provide 305,000 jobs in the state. During the 2004 presidential race, George W. Bush received 331,237 popular votes and lost the state to Senator John Kerry who obtained 340,511 popular votes. Thus, by ignoring small business interests the presidential candidates are ignoring a large portion of American voters. "If any one candidate were to focus on small business in New Hampshire they could potentially wrap up the majority of the popular vote for that state," Peake said.

"The fact that the presidential candidates are virtually ignoring small business interests, is an indication that the candidates do not take small businesses seriously," American Small Business League President, Lloyd Chapman said. "Small businesses need to take a look at this situation and realize that it is time to get organized, create a movement for change, and ask these candidates about how are they going to support small businesses in their presidency."

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