American families are taking a close look at their budgets these days, looking for ways to save and reduce their spending as they struggle in this stagnant economy. Meanwhile, American businesses have been forced to cut investments as the slow recovery leaves them behind and as the ever-growing regulatory state threatens to increase their costs. The House of Representatives has cut its own budget, reducing our expenses to reduce the tax burden on the American people. And it's time for federal agencies to do the same. I can't think of a better time for congressional oversight to examine how regulatory agencies
are spending Americans' hard-earned tax dollars. We need to live within our means and cut back where we can, while still producing results for the American people.
At the same time, we should also make sure that the federal dollars we do spend are getting the biggest bang for the buck.
For example, the Federal Communications Commission is charged with overseeing the $8 billion Universal Service Fund, and the American ratepayer deserves to know that money spent on that program is actually doing what's it's supposed to do and not being diverted to fraudulent ends. This may mean increased oversight and investigations to cut off waste, fraud, and abuse at the head.
I thank Chairman Genachowski, Inspector General Hunt, and Mr. Barash for testifying at today's hearing, and I look forward to your insight into the FCC's budget and spending.