On the recordJuly 22, 2010
Mr. President, there has been a lot of discussion on the floor of the Senate in the last couple of days about small business legislation and various things dealing with jobs, and clearly we need a lot of jobs in this country. We have gone through a very steep economic decline that has victimized lots of Americans. Because of that, we have a lot of people who are waking up in the mornings without work and wondering what to do next. They feel helpless and hopeless and are trying to get their feet on the ground. But they need some help from this Congress; that is, we do not create jobs, but we do create conditions under which jobs can be created by the private sector. So I want to talk a little about the issue of what might give the American people some confidence because confidence is everything. If they are confident about the future, it means our economy can expand. If people are not confident about the future, our economy will contract. It is that simple. There is no question that this country now, having gone through the biggest economic downturn since the Great Depression, has the largest Federal budget deficits we have ever had. In the last couple of years there have been enormous budget deficits. In fact, the budget was in deficit by $1 trillion by the end of June in this fiscal year.…





