Our highest priority should be to put America back to work. We need jobs, investment, and growth; but that's not what we're doing in Congress. Yesterday the Energy and Commerce Committee held one hearing attacking women's reproductive rights and another promoting legislation to roll back the Clean Air Act. And today we're spending all day debating a meaningless resolution no one disagrees with. None of this will create any jobs or make our economy stronger. The resolution we're debating directs several committees, including my committee, the Committee on Energy and Commerce, to conduct oversight of government regulations. Well, I support oversight and reforming unnecessary or outdated regulations. That's part of our job. We don't need a resolution to do our job. But we need to be honest with American families. Our economy is not in a recession because of regulations. We are in a recession because Wall Street ran amok and Federal regulators were asleep on the job. It is too little regulation of Wall Street--not overregulation--that caused our economic woes. And that's why this resolution is going to do nothing to get our economy growing again. I ask my colleagues to remember the collapse of Wall Street in 2008. This meltdown in the financial markets threw our economy into the deepest recession since the Great Depression. Millions of Americans lost their jobs, and it cost U.S.…
Editor's note · Context
Waxman criticizes Congress for not prioritizing job creation and addresses the impact of Wall Street regulations on the economy.
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