we have to understand the realities of the fiscal situation we are in.

I want to take some of those quotes that you just said.

When the political process intervenes in the decisionmaking process, it distorts the market.

the cost of complying with federal regulations exceeded $1.75 trillion every year--nearly 12 percent of the total GDP.

I think on a bipartisan basis if we are going to address our current economic malaise, regulatory reform has to be an essential component of that.

I don't want to see that shipped overseas on the basis of an egregious tax, or failure to bring about some sensible regulations.

Well this recent announcement by the President that he is going to use the regulatory process to achieve what a lot of us think needed to be legislated is going to have enormous impact on energy costs in this country.

I'm hoping that--I think that's the way to approach it. I'm hoping that's the way you'll approach your job, that you will not base future decisions on the fact that you took a different position in your private life.

My constituents came to me and, basically, said, 'You know, you voted for our position, or against our position, and we're wondering if you're still with us or you're still against us.'

I want to send a message to Rosie also.

We are glad you are doing that because we do not want a repeat of what happened before.