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Public Statements

Economic Recovery

Floor Speech

Location: Washington, DC

Mr. KINGSTON. Mr. Speaker, I think there are four things the United States of America needs to do to turn the economy around.

Number one, we need to balance the budget. We can do this on a bipartisan basis just by reducing the duplications in government and the overlap between State functions and Federal functions; also getting through the waste, and then trimming off 1 percent over time to bring revenues and spending at the same level. Right now spending is at 23 percent. Revenues historically have been at 18 percent. Common sense says you need to balance those out.

Number two, we need to get rid of the regulatory overload on businesses that are creating the jobs right now. Change regulations from an ``I gotcha'' mentality to one that ``we're here to help because we're in it together,'' for worker safety, environmental protection or whatever. We can do a lot just by changing the attitude of the regulators.

Number three, we need tax reform, tax simplification so that taxes are fair. The Tax Code needs to be a half an inch deep and miles and miles wide so that everyone is participating. Let's get rid of the underbrush, all the loopholes.

Number four, and finally we need to drill our own oil. We cannot keep importing 65 percent of our oil. We need to have an all-of-the-above energy policy.

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