On the recordMay 8, 2012
Mr. President, I would like to spend a little time today talking about what has become known across the country as the Obama economy. This administration, after nearly 4 years, has failed to get this country and to get our economy moving again. Even worse, as I look at it, this administration seems to be taking steps that appear to be methodically and deliberately sabotaging certain parts of our Nation's economy. They are doing this in sectors of the economy that, apparently, to me, they just don't like. And they are doing it by issuing thousands and thousands of pages of redtape on the very people in this country who have successfully created jobs for Americans in the past. This administration has finalized 1,330 rules that have been deemed economically significant. They have proposed over 1,300 additional economically significant rules. So what does this mean, the words ``economically significant''? Well, those are rules that have an annual impact on the economy of $100 million or more. Fifty-seven coal-fired powerplants have already announced their closure because of the cumulative effect of these rules on just this one industry. The EPA is proposing regulations on whole sectors of the economy, whether it is issuing new storm water regulations for existing buildings to requiring costly Clean Water Act permits. They are doing this for ditches on family farms. Thousands of American jobs have already been lost, and others are on the chopping block due to these rules.…





