Criticism
The Cato Institute has challenged the justification of the federal government in intervening in credit markets. Among other criticisms, Cato argues that "the SBA benefits a relatively tiny number of small businesses at the expense of the vast majority of small business that do not receive government assistance. SBA subsidies also represent a form of corporate welfare for the banking industry." Cato notes that the failure rate of all SBA loans from 2001 to 2010 is 19.4%, contributing to a cost to taxpayers of $6.2 billion in 2011.
Read more about this topic: Small Business Administration
Famous quotes containing the word criticism:
“Nothing would improve newspaper criticism so much as the knowledge that it was to be read by men too hardy to acquiesce in the authoritative statement of the reviewer.”
—Richard Holt Hutton (1826–1897)
“In criticism I will be bold, and as sternly, absolutely just with friend and foe. From this purpose nothing shall turn me.”
—Edgar Allan Poe (1809–1845)
“Parents sometimes feel that if they don’t criticize their child, their child will never learn. Criticism doesn’t make people want to change; it makes them defensive.”
—Laurence Steinberg (20th century)