Monday marked the beginning of National Small Business Week. Kicking it off, President Obama released a statement promising more help to small businesses through immigration reform.
"America’s small businesses are the backbone of our economy," said the president. "More than that, our small businesses represent what is best about America – that with hard work and ingenuity, anyone – no matter their background – can build a better future for themselves and their families," he added.
Obama mentioned 18 tax cuts his administration has provided for small businesses and further committed to simplifying the tax code for them. But lastly, he said he is committed to helping small businesses through immigration reform:
But there’s more work to do, and my administration will continue to do everything we can to help our businesses grow and succeed, including taking steps to invest in our infrastructure, support access to credit to more small businesses and reform our immigration system. During National Small Business Week, we renew our commitment to helping our businesses hire more workers, sell more products and continue to grow the foundation of our American economy.
Contrary to Obama's enthusiasm, a study reported here on TruthRevolt showed entrepreneurship at an all-time low in America. The Brookings Institution found that new businesses are closing their doors faster than new ones are opening -- a phenomenon never before seen in America. One thing the study did show was that large, established businesses are doing just fine.
America's backbone is broken.