On the recordAugust 2, 1996
It is so frustrating listening to the debate, pretending that Congress can somehow create more wealth by passing a law saying you increase wages. Do we think $5.15 an hour is that great of an income? Do we think that is the correct rate for people to survive? If anybody thought Congress could do it, why in the world are we not raising it to $10 or $12 or a respectable living for an American family of $14, $16? It is because Government cannot set prices. That is not the way our system works. Let me tell my colleagues how I think it works. I think competition is just as important in the labor force as it is in the total economy of this country. The free market with competition is what has made us so great. If we want to improve the chances of people to increase their salaries, then one thing we need is to have competition in the labor market with better mobility of labor.
Source
govinfo.gov
