On the recordJune 8, 2010
I appreciate the gentleman from Texas broaching this particular issue. Some people have asked me what is the Federal Government going to do about jobs. It's very clear the Federal Government has two options. One is you can actually create Federal jobs and fund them and run them and hire people for them, and the second is the Federal Government can create an environment that encourages the private sector to create jobs. Indeed, at the beginning of the Great Depression in the 1930s, one of the problems that the country had was there were a great many people that had money that did not invest that money. They sat on the money because they were watching what the government would do and had a great deal of anxiety as to what the government would do, would it attack business or would it build a climate that was favorable to business. In some respects, I think we have that same situation today where there are people out there with money that could invest and expand the economy but, indeed, are waiting and watching to see what the policies of this country will be with some level of anxiety as to what that policy actually would be.
