On the recordNovember 9, 2011
I wish to associate myself with the remarks of the Senators from Texas and Mississippi and to say that I think a lot of people probably mean well but are often misguided when they say we are going to regulate this sector of the economy or we are going to regulate that. The market, as you well know, is the driving force in our economy-- not just in the United States but worldwide. It is going to be the market that will decide what we do as far as job creation for our people everywhere, and I believe the Internet is an example of, gosh, let's don't overregulate it. Let it grow, let it do its job, and it will. I would also like to speak about some commonsense steps that Congress can take right now to help our struggling economy. At a time when job growth is stagnant, Congress needs to lift the regulatory burden that is stifling capital formation. The Senate has before it several bills that would help private businesses raise the capital they need to grow and to create jobs. This is an issue that should enjoy the support of both Republicans and Democrats in the Senate. Access to capital, as the Presiding Officer well knows, is what allows entrepreneurs to transfer new ideas into living companies. Novel products, new services, and, most importantly, good jobs can be created. Unfortunately, overregulation has made it progressively harder for small businesses to access capital in this country. I will give some statistics. They are clear.…
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