[Congressional Record Volume 156, Number 109 (Thursday, July 22, 2010)]
[House]
[Page H5961]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              {time}  1630
                       AMERICA'S ECONOMIC FUTURE

  (Mr. WITTMAN asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. WITTMAN. Mr. Speaker, yesterday the President of the United 
States signed legislation into law that dramatically alters the way our 
financial sector works and makes it harder for our economy to recover. 
Instead of bringing much-needed reforms to modernize our financial 
system, this law grows government again.
  As The Wall Street Journal put it, ``What started as a promise to 
streamline and modernize the financial system turned into 2,300 pages 
of new agencies and new powers for the very authorities that fomented 
the financial crisis.''
  According to a recent U.S. Chamber of Commerce study, Federal 
regulators will have to write 520 rules, issue 81 studies and 93 
reports. I opposed this measure as it came before the House. Business 
owners and constituents across my district are frustrated because the 
policies coming from Washington create more bureaucracy and stifle job 
creation.
  It's time that Washington focuses on commonsense principles that put 
Americans back to work, reduce government expansion, and get our 
economy back on track. We must head back in the right direction for the 
future of this Nation.

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