Thank you, Chairman Shelby, for convening this important hearing. I always look forward to the opportunity to hear from Chairman Greenspan.

I believe that the U.S. economy is on the right track. The economy is growing, payroll employment is up, and new and existing home sales set new record highs in May. This is good news.

Second, we need to continue to provide economic incentives through tax cuts, including making the previous tax cuts permanent.

First, we need to address the looming problems in the various entitlement programs.

Second, we need to continue to provide economic incentives through tax cuts, including making the previous tax cuts permanent.

First, we need to address the looming problems in the various entitlement programs.

However, we cannot take the positive economic news for granted; Congress needs to do more to continue to promote a healthy economy.

Thank you, Chairman Shelby, for convening this important hearing. I always look forward to the opportunity to hear from Chairman Greenspan.

One of the issues happening in Armed Services Committee is BRAC.

Mr. Chairman, thank you for holding this hearing.

I have a great interest in the work that the Economic Development Administration does.