Dana Rohrabacher: “Mr. Speaker, last month we marked the 40th anniversary of the beginning of the space age by recalling that day in 1957…”

“Mr. Speaker, last month we marked the 40th anniversary of the beginning of the space age by recalling that day in 1957 when the Soviet Union orbited Sputnik, the world's first manmade satellite. We have accomplished a great deal in the last 40 years, largely through Federal spending. Because of that history, which is a history of the Federal Government's success in the space endeavor, we sometimes think that only the Government is capable of accomplishing missions in space. As a result, Federal laws and policies are designed around space activities run by the Government for the Government. However, according to a recent study by the investment firm Spacevest and an accounting firm, that is KPMG Peat Marwick, global revenues from commercial space business now exceeds global revenues generated by Government outlays. This is good news, for several reasons. It gives us a broader industrial base to support Federal space missions, lowering costs to taxpayers in the process. Second, it means that the American people are gaining access to a wide range of new space-related goods and services. Third, it means that the country is creating high-technology, high-paying aerospace jobs that are no longer dependent on Government spending for their existence. Finally, and perhaps most importantly, it means that our future in space is not bound by the Government's ability to spend money.”