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Public Statements

Improving The Economic Environment

Floor Speech

Location: Washington, DC

Mr. QUAYLE. Mr. Speaker, a little more than a week ago this House passed a continuing resolution with $100 billion in spending cuts. Not only was this an important step towards reining in our Nation's paralyzing deficits, it also sent a clear signal to job creators that House Republicans are determined to foster an economic environment where certainty and confidence can return to the marketplace.

When a young family looks for a new neighborhood, they examine a variety of factors. They might ask about how safe it is. They might want to know about the school system or whether their neighbors are friendly. The broader question being: What is the environment like?

Job creators take a similar approach when they decide whether it's safe to invest capital, expand their businesses, and hire new workers in America. Just as a family is not going to choose a neighborhood with overflowing sewers and a high crime rate, a business owner is not going to expand and invest in an economic environment marred by debt-fueled uncertainty that will increase the costs to run their business. After all, deficits are just deferred tax payments that eventually come due.

We must ensure that America is the most attractive and safest place to start a business, take risks, and invest capital. It is essential that we send a clear signal to American businesses that both parties are committed to removing the barriers to job growth and economic development.

Republicans believe--and I would argue the American public believes--that cutting spending is a crucial step in that process.

Yesterday, Mark Zandi released a study which argued that the Republican spending cut plan would cost jobs. I am sure Mr. Zandi is a nice enough person, but in recent years, he hasn't seen a spending increase he didn't like. He was the Democrats' go-to guy when they were looking for an economist to endorse the stimulus, and he even endorsed a second stimulus package after the initial $1 trillion package was signed into law. So before my Democrat colleagues start touting Mr. Zandi's report, I suggest they look at his record on the so-called stimulus.

By merely debating spending cuts for the past few weeks, this body engaged in a process that many feared was obsolete. Some have said Republicans are trying to cut too much, others, that we are not cutting enough; and, indeed, we still have a long way to go to get our deficits and debt under control.

But what no one can dispute, Mr. Speaker, is the fact that we are serious about cutting spending. In addition to the $100 billion in cuts Republicans have offered over the next year, we have also made clear that our upcoming budget will include serious, commonsense entitlement reforms.

All of these efforts have one goal in mind: producing an environment conducive to economic growth and job creation. House Republicans are doing what we were sent here to do, and that's precisely what our job creators need: clarity and decisive leadership from their government, not mixed messages and delayed action.

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