On the recordJuly 25, 2012
Woman, just one quick comment I'll throw in there. I'm part of the belief system that one of the great burdens right now in economic growth and to sort of that next generation of what's the next world of jobs that will be coming into our economy--how are we going to form the capital, how are we going to see what our future looks like--is actually, in many ways, what we're debating here. I do believe the massive growth in the regulatory environment over the last couple of years is stymying that next generation. There is one point I also want to make. Think of the last decade. I'm doing this somewhat from memory, but I think a decade ago the SEC's budget was about $300 million. Today, I believe it's $1.35 billion. So it's up $1.05 billion in 10 years, to give you some sense of how much massive increase has been moved into the regulatory body. With that, Madam Chairman, I yield back the balance of my time. The Acting CHAIR. The question is on the amendment offered by the gentlewoman from New York (Mrs. Maloney). The question was taken; and the Acting Chair announced that the noes appeared to have it.
