Friday, September 9, 2011

Isakson Statement on President Obama's Speech on Job Creation

WASHINGTON – U.S. Senator Johnny Isakson, R-Ga., made the following statement in response to President Obama's Thursday evening speech on job creation.

"The president's speech on job creation was really more of the same in terms of the sum of the recommendations he has made over past weeks. There were some good new things included in his plan, including the refinance provision on existing mortgages held by Freddie Mac and Fannie Mae in which homeowners who are still making their payments, even on houses in distress, could lower their payments by taking advantage of the current low interest rates. That should significantly help the housing market.

"As for the rest of the speech, it was full on promises but short on detail. I'm going to have to wait and see what the details are, but I do know this: The president's defense of burdensome government regulations on U.S. business and the U.S. economy still leaves us in the quandary of leaving capital on the sidelines as American business waits for a more predictable regulatory environment. It is my hope that as a result of this speech and the debates to come, we will take a concrete look at regulations, and the president will be honest about how his regulations affect the American economy.

"We must find a way to still protect the interest of the American people without overly burdening and regulating small business, free enterprise and the American economy. That's the number one thing we can do to create private-sector jobs. I look forward to working toward that end and will be glad to work with anybody who's willing to accomplish the same goal."