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Catapulting into the 21st Century Economy


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"There hasn't been enough focus on the positive aspects of putting a debt and deficit deal together," said Senator Warner on Tuesday, speaking to a group of students from Georgetown University's Center for Business and Public Policy.

"If you look around the world," he continued, "the American economy looks pretty good… Investors have $2 trillion sitting on the sidelines waiting to invest if we just have the political wherewithal to get this [debt and deficit deal] done."

Beyond the importance of finding a compromise to avert the fiscal cliff, he spoke about other ways to help spur job creation.

Senator Warner said that the energy industry would benefit from more clarity on future government policy. "If the federal government could implement a comprehensive energy policy with a stable regulatory framework…it would lead to predictability for the energy markets."

A former businessman with strong ties to the telecom and technology industries, he emphasized that re-examining wireless spectrum allocation and implementing cybersecurity legislation could have a major impact on the health IT and education technology industries.

"Consolidating the various government agencies that regulate commerce…into a more user-friendly entity that's easier for small and midsize businesses to navigate," said Senator Warner, also will be vital going forward, since "if you're a business owner, 95% of all your future customers will be international, no matter if you have a small or midsize business, or a fortune 500 company."

"Because we have such a diverse, robust economy, there's no one silver bullet to fix it… but this economy has been held back by policy uncertainty, and is ready to leap forward," he concluded. "When you consider what's being asked of people in the rest of the world, it shouldn't be this hard. We've got to get this [deficit/debt deal] done."

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