entrepreneurs and new businesses are vital to the strength of the U.S. economy. We need to be a competitive country in which we have great success in creating jobs in America. Between 1980 and 2005, startup companies--less than 5 years old-- accounted for nearly all the net new jobs created in our country. New firms create an average of approximately 3 million jobs each year. In order to create jobs for Americans, we need to create an environment where entrepreneurs are free to pursue their ideas, start businesses, and hire American workers. Now, why is this important? This is important, obviously, for the purpose of creating the opportunity for all Americans to pursue the American dream. It is important for us to have the ability to put food on our families' tables and save for our kids' education and save for our own retirement. And it is important because at a time in our Nation in which the fiscal condition of the Federal Government is so serious, so much out of balance--we are spending so many more dollars than we take in--the deficit is holding back the growth of our country. These facts are important because at this point in time, because of our country's fiscal condition, we have an inability to grow the economy, and we have seen little evidence that the administration and Congress are willing to address our fiscal issues. I raise these facts because we have to act now in order to create jobs in this country.…
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I yield to the Senator from Virginia, Senator Warner. The PRESIDING OFFICER. I recognize the Senator from Virginia.





