Streamlining Regulations (Text from CNBC ) Thu 04 Aug 11 | 08:16 AM ET Former Senator Blanche Lincoln (D-AR) discusses a campaign that will streamline regulations to protect jobs. independent business reporting, the compliance with federal regulation is costing the u.s. a whopping $1.3 trillion per we're. former senator blanche lincoln and the nfib launching a campaign to stream line regulations in order to protect jobs. she joins us live from washington, and senator, great to see you. thanks for joining us. i know you from arkansas and everything, but, would you feel more comfortable as a republican at this point. i mean you're not in congress or the senate any more. why don't you just make the move. it just seems weird regulate, anti-regulation, democrat. explain to it me. we're talking about sensible regulation. small businesses for sensible regulation. i think that everybody has come to realize how important small business is and job creation in this country. two third of the net new jobs that are created in this country are created by small businesses. 50% of our gdp. and, you know, it's unbelievable the number of regulations, the sheer volume and the complexity. over 4200 new pending regulations now. staggering. it is. it's stifling. senator, either dodd-frank or obamacare. or lisa jackson. epa, activist agencies. you look at that. do you think you can do more by being part of it in. i think what we can do is drive home the fact that we now have to work extra hard at producing the recovery that our economy needs. that small businesses will play an enormous role in that. and that right now, over 4200 new regulations that are pending are stifling for multiple reasons. bill dunkelberg, the legislation that the democratic administration and congress put through over the last two years, would you at least concede that? nfib is a great group. i worked with them consistently when i was in the house and senate. they have a great membership in states like arkansas. we hear a lot of people argue that it's not regulations that are holding back job growth -- i'm not sure what it is. tell me steve. it's uncertainty. not from regulations. regulations play a huge role in that. the uncertainty of what is going to happen with those regulations. you know. and at what point will that happen? that's what we want to create. we're going to give the voice to the small businesses across the country to be able to tell their stories and to get those stories out there. to move the administration to do, you know, the president came out with an executive order in january charging the agencies to come up with, you know, a reduction in regulations and where they would do those reductions. hear all that but then i see lisa jackson -- did you have any dealings with her? oh, yeah. does she make any sense to you? does she know how to do cost benefit analysis and does she care? that's what we're calling for. i want to make sure people understand the practicality of that. does she. i don't know. there's times when i didn't believe so. you know, i don't think -- this is not a campaign to eliminate regulation. what we want to bring back to the table is a sensible nature of what regulations are intended to do. i mean if you look at the ground ozone piece that's coming out right now this, is two years ahead of what it's supposed to be. if you look at the restrictions of it, what it's going to do in terms of cost to manufacturing and others, i mean it's just overzealous. you know, we want to point that out. we want to make sure people know and under that job creation that needs to happen to bring this economy back is in large part going to be done by small businesses. senator give us some quick examples of things you can eliminate right now that would create jobs? this is not about elimination necessarily. it is about putting into place a process that's going to work. to ensure that there is adequate oversight. to make sure that, you know, there's analysis. independent analysis. that's both quantitative and qualitative. give us some examples that's getting in the way of small business. the ozone piece is a good one. i looked at east arkansas which falls into the non-attainment area of memphis. looking at how those regulations come out. how they are implemented and applied. what it does to small communities and small businesses in many instances. but it's that regulation, if it were to be applied you're talking about 90% of the crowns in this country that are is going to be affected by that. again, ate rule or a reg coming out two years before it's actually due. president bush put that reg out in 2008. so we're just talking about sensible regulation. going back to what sensible regulation needs to be. certainly making sure that the white house and the administration is on board and working with us to see that happen in all of their agencies. senator, this is constance hunter. good morning. i view you as being a democrat, i view it as a good thing. you're like nixon is going ch you're like nixon is going china. how are you doing galvanizing members of your party and republicans coming together on this. that's critical. there's ain't bipartisan effort going along nationally but this is one area where you could have bipartisan support. we do have some bipartisan support. you're right. bipartisanship is a critical component is what will get us out of any of the problems we're in and i fought hard for that when i was in the senate and the house. the most important component to bringing that bipartisanship is the voices of these small businesses and that's what our campaign is about. it's small businesses for sensible regulation. if you look, go the website, it's www.sensibleregulations.org. it's a great testimony alfrom some of these small businesses all of which you preface by saying we realize regulation is needed. this is not anti-regulation in the sense that we just want to eliminate regulation. what we want to see is the cost benefit analysis of what it does. you know, the steps that we're being asked to take, is it worth what it's costing us in terms of our inability to reinvest into our businesses. again, creating, you know, two-thirds of the net new jobs in this country. is it worth that? are we getting the benefit for the cost of what it's doing to our economy. and it needs independent analysis. you know, these agencies that are setting the regulations shouldn't be the ones providing the analysis of what it's going to do. okay. i like -- there must be another blanche lincoln. seems weird to have two people. anyway thank you, senator. we appreciate your time. thanks for having me. so let's show you what's going on with the futures because they have taken a decidedly negative turn. they were already down Streamlining Regulations Thu 04 Aug 11 | 08:16 AM ET Former Senator Blanche Lincoln (D-AR) discusses a campaign that will streamline regulations to protect jobs.
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