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Isakson Denounces President Obama's Declaration that "Private Sector Is Doing Fine' Urges Administration to Empower Private Sector, Take a "Timeout' from Burdensome Regulations, Give Private Sector Job Creators Certainty

Press Release

Location: Washington, DC

U.S. Senator Johnny Isakson, R-Ga., today denounced President Obama's comment from last week that "the private sector is doing fine." Isakson said he has heard just the opposite form his Georgia constituents who have shared their struggles with crushing government regulations and high unemployment in the private sector.

In a speech on the Senate floor, Isakson cited a USA Today article showing that the average family wealth in the last three years has declined by nearly 39 percent, with the middle class being hardest hit. Georgia's unemployment rate currently stands at 8.9 percent, which is higher than the national average of 8.1 percent.

"The private sector is not "fine.' In my recent travels across Georgia, I've talked to many people in the private sector who are not doing well, and they are not doing well because of government overregulation and uncertainty," said Isakson. "If we could do anything to empower our economy right now, we should call a regulation timeout. In addition, this administration has tried to eliminate risk. Government's job is not to eliminate risk, it is to mitigate risk. If you eliminate risk, you take the power of investment away from the private sector and entrepreneurs."

Isakson spent more than three decades in the private sector working in the real estate business. He has introduced and co-sponsored numerous proposals to empower the private sector and create jobs, including: a bill to approve the Keystone XL pipeline (S.2041), constitutional amendments to balance the federal budget (S.J.Res.3, S.J.Res.10 and S.J.Res.23), the Jobs Through Growth Act (S.1720),the Regulatory Time-Out Act (S.1538),the CAP Act (S.245),the Cut, Cap and Balance Act (S.1340),and a bill to repeal the president's health care law (S.192).

As the senior Republican on the Senate Subcommittee on Employment and Workplace Safety, Isakson recently introduced legislation that would reverse the National Labor Relation Board's new policy of allowing as few as two or three employees to form micro bargaining units, or micro unions, which gives an unfair advantage to unions and places a burden on employers. Isakson's legislation, S.1843, the Representation Fairness Restoration Act, which has garnered the support of 30 co-sponsors in the Senate, would reinstate the traditional standard for determining which groups of employees should constitute an appropriate bargaining unit, a standard that had been developed through decades of careful consideration and Congressional guidance.

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