[Congressional Record (Bound Edition), Volume 157 (2011), Part 6]
[Senate]
[Pages 8809-8810]
[From the U.S. Government Publishing Office, www.gpo.gov]




                              JOB CREATION

  Mr. MORAN. Mr. President, on Friday of last week, the U.S. Department 
of Labor released a dismal update on our Nation's economy. Not only did 
our Nation's unemployment rate rise to 9.1 percent, but the number of 
Americans looking for work increased to 14 million, and those who have 
been jobless for at least 6 months climbed 45.1 percent.
  It is clear the current economic policies are not working in our 
favor. In fact, I suggest they are working against us, creating an 
environment of uncertainty and hampering job growth in America. When 
the message coming from Washington, DC, is more taxes, more regulation, 
and more intrusion in the free market system, it is no wonder 
businesses are not hiring additional workers.
  Americans are looking for leadership to get our economy back on its 
feet so they can find a job and provide for their families. In a recent 
survey, 90 percent of Americans said the economy is in bad shape and, 
by a margin of 2 to 1, Americans said our economy is on the wrong 
track. I couldn't agree more. Changing the course of our economy will 
require Washington, DC, changing its course.
  Instead of creating barriers to job growth, Congress and the Obama 
administration should be implementing policies that encourage job 
creation. History shows that sustainable economic growth starts with 
the private sector. So Congress and the administration have a 
responsibility to create an environment where businesses can flourish 
and start hiring again, and that starts by pursuing a series of 
progrowth policies.
  First, in my view, Congress must rein in government regulation and 
stop passing burdensome mandates that come at the expense of that job 
creation. As I tour manufacturing plants and other businesses in my 
home State of Kansas, owners often ask: What is the next thing coming 
from Washington that will put me out of business? Jobs in this country 
are undercut with each new government regulation because it drives up 
the cost of doing business, erodes our global competitiveness, and 
limits the access to credit that businesses need to grow. Rather than 
hiring new employees, businesses are spending their resources on 
complying with these burdensome regulations and costly mandates--from 
the EPA's effort to regulate carbon to the mandates imposed by the new 
health care law.
  According to the Small Business Administration, the smallest 
businesses--those with less than 20 employees--spend 36 percent more 
per employee than larger firms to comply with Federal regulations. That 
is roughly $10,585 per employee to comply with all Federal regulations, 
and very small firms are burdened even more per employee.
  Small business, as we know, is the backbone of the American economy. 
Those businesses employ half our private sector workers and have 
generated 65 percent of new jobs over the last 20 years. So it makes no 
sense to drive up their operating costs with additional government 
regulations because that leaves them with fewer resources to hire new 
workers.
  Second, Congress can spur economic growth by replacing our convoluted 
and burdensome Tax Code with one that is fair, simple, and certain. 
When businesses know what to expect, they can better plan for future 
expenses and will invest in their companies, grow, and hire new 
workers.
  Unfortunately, Congress is often too shortsighted when it comes to 
tax policy. A 1-year or 2-year extension of tax cuts does not give 
businesses the certainty they need to plan for that future. Employers 
have to make decisions about the future of their business today, and 
given the fact that their taxes will rise in the near future, they are 
reluctant to hire new workers or expand their business. If we are 
serious about creating jobs in this country, we have to give our 
country's job creators the ability to plan for the future and a Tax 
Code that encourages investment.
  Third, Congress must open foreign markets for American manufactured 
goods and agricultural products. Across the country, thousands of 
Americans depend upon exports for jobs, including more than one-quarter 
of all manufacturing workers in Kansas. By increasing our Nation's 
exports, we will create jobs and opportunities for all Americans 
without raising taxes or increasing the Federal budget. We should be 
exporting our manufactured goods and agriculture products, not our 
jobs.
  Unfortunately, trade agreements with Colombia, Panama, and South 
Korea, for example, have been stalled for 4 years, and each day that 
passes, we risk losing more of our market share to our competitors. 
During this delay, Colombia has moved forward on trade deals with 
Canada, Chile, the European Union, Brazil, and Argentina. On July 1, a 
pending agreement between the European Union and Korea will go into 
effect. We cannot afford to sit on the sidelines while other countries 
continue to move forward in their trading relationships with our 
trading partners.
  Together, the trade agreements with Colombia, Panama, and South Korea 
are worth an estimated $13 billion in U.S. exports. The agreement with 
Korea alone is worth $11 billion and would create an estimated 70,000 
new jobs for Americans.
  It is past time for the President to send Congress implementing 
language for these trade agreements so we can open more markets for 
American goods and agricultural commodities. When American businesses 
are given the opportunity to compete on a level playing field for these 
markets, they will succeed and more jobs will be created here at home.

[[Page 8810]]

  Fourth, the United States, to remain competitive in the global 
market, must develop a comprehensive energy policy that allows for 
ample energy supply that is both affordable and reliable. Rising gas 
prices and recent events in the Middle East have again demonstrated the 
importance of having access to a reliable energy supply. Higher energy 
prices are not only threatening our global competitiveness, they are 
also hampering our economic recovery. I don't know how we can expect 
our economy to recover when energy prices are what they are. But when 
employers have access to reliable energy supplies, they can spend their 
resources on hiring new workers rather than on those escalating energy 
costs.
  In my view, no single form of energy can provide the answer. To meet 
our country's energy needs, we must develop traditional sources of oil, 
natural gas and coal, encourage the development of renewable energy 
sources such as biofuels, wind, solar, geothermal and hydropower and 
expand the use of nuclear energy, as well as encourage conservation.
  A recent report from the Congressional Research Service found that 
our country's resources are far greater than those of Saudi Arabia, 
China, and Canada combined. In fact, our combined recoverable oil, 
natural gas, and coal supplies are the largest on the planet. Yet, in 
2009, the administration canceled 77 oil and gas leases in Utah and 
last year suspended 61 leases in Montana. The administration has also 
restricted access to oil and gas exploration in the eastern Gulf of 
Mexico and off the Atlantic coast--although these two areas hold 
commercial oil reserves of 28 billion barrels and up to 142 trillion 
cubic feet of natural gas. More production of energy in the U.S. means 
more jobs in the U.S. and more U.S. workers at work and lower energy 
costs for businesses and their employees.
  Finally, Congress must reduce government spending to bring about this 
economic growth. I think the debate on government spending is often 
seen as some philosophical discussion or a partisan political bickering 
opportunity here in Washington, DC. But the reality is out of control 
government borrowing and spending has very real consequences for the 
daily lives of Americans. Our failure to balance the budget will result 
in increased inflation, higher interest rates, fewer jobs, and a lower 
standard of living for every American. But this reality has not yet 
sunk in here in Washington, DC, despite several recent warnings.
  At the end of April, Standard & Poor's, one of the world's big three 
credit rating agencies, downgraded our Nation's future financial 
outlook from ``stable'' to ``negative.'' S&P said our country has 
``very large budget deficits and rising government indebtedness--and 
the path to addressing these is not clear.''
  Furthermore, just last week another credit rating agency, Moody's--if 
we needed another reminder--warned that our failure to reduce our 
growing deficit could prompt them to downgrade their outlook on our AAA 
rating to negative. Without a ``credible agreement on substantial 
deficit reduction''--this is Moody's talking--this could happen as soon 
as next month. This would have a devastating impact on our already 
struggling economy.
  Reducing our Nation's debt will require us to work together to craft 
a serious plan. President Obama's proposal to balance budgets in part 
by raising taxes on businesses, in my view, would only make our 
economic circumstances worse.
  Washington does not have a revenue problem; it has a spending 
problem. It is time for us to work together and pass a responsible 
budget to reduce our deficit this year, next year, and far into the 
future. The plan should include significant spending reductions, a 
balanced budget amendment to restrict Washington's future ability to 
borrow money that would put us right back in the mess we are in today, 
and should address our long-term unfunded mandates.
  As John Adams once quipped: ``Facts are stubborn.'' And the facts 
tell us that Washington must change direction if we are to grow our 
economy and put people back to work. The failed economy we are 
experiencing and the financial collapse around the corner is the most 
expected economic crisis in our lifetime. We know what is going to 
happen if we do not act, and it would be immoral for us to look the 
other way or to kick the can down the road because the politics of 
these issues are too difficult to deal with.
  Americans deserve leadership here in our Nation's Capital to confront 
these challenges and not to push them off to the next generation of 
Americans. If we do so, if we confront these issues correctly in a 
responsible way, businesses will succeed, profits will be made, 
employees will be hired, and Americans will again be able to live and 
pursue the American dream.
  Mr. President, I yield the floor.
  Mr. ISAKSON. Mr. President, I ask unanimous consent to speak in 
morning business for up to 10 minutes.
  The PRESIDING OFFICER. Without objection, it is so ordered.

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