The Livingston Parish News reports on Cassidy's Town Hall Meeting in Walker, where he explained his limited government, pro-growth principles and heard from citizens about the issues that are important to our region.
Cassidy Blasts Drilling Moratorium, Federal Spending
Livingston Parish News
By Alice Dowty
September 2, 2010
WALKER - U.S. Rep. Bill Cassidy shared his vision of a less regulated business world at Walker Town Hall Tuesday night, beginning with the moratorium on deepwater drilling.
Oil leaking into Gulf waters was bad enough, but the consequences of the federal government's moratorium could be even worse, Cassidy said.
The suspension of drilling operations could expire before Nov. 30, if Interior Secretary Ken Salazar determines that another rig explosion is not likely, but extending the moratorium could result in the loss of 23,000 jobs, Cassidy said.
Stuart Litvin, CEO and president of the Livingston Economic Development Council, asked Cassidy about regulations which limit the capacity of local banks to invest in small businesses.
"While large companies have relationships with large banks, small businesses have difficulties getting loans," Litvin said.
Cassidy agreed that small community banks with a good balance sheet and a history of responsible lending should not be penalized for the practices of large banks.
Tuesday night's Town Hall meeting was also attended by state Sen. Dale Erdey, state Rep. J. Rogers Pope, Walker Mayor Bobby Font, Denham Springs Mayor Jimmy Durbin, French Settlement Mayor Toni Guitrau, Walker Aldermen Elton Burns, Jack Summerell, and Scarlett Major, Denham Springs Councilman Rene Delahoussaye, and School Board member Jimmy Watson.
Cassidy criticized proposed federal "cap and trade" legislation intended to reduce air pollution by making a commodity out of carbon emissions.
Such regulations could send more jobs overseas and trigger a 40 percent decline in employment in the petrochemical sector over 15 years, Cassidy said.
The threat of higher production costs because of environmental regulation is already reducing investment, Cassidy said.
"There is an unelected government that helps decide the future of the country," Cassidy said, referring to the judicial decision giving the Environmental Protection Agency the right to regulate carbon emissions.
Cassidy said that many federal officials who embrace the dream of alternative energy sources overlook the importance of developing domestic oil and gas resources.
Lack of committment to develop domestic resources has resulted in a higher proportion of jobs that can be shipped overseas. Unemployment has hit males without a college degree the hardest, the same work force demographic that could find new employment in an expanded petrochemical industry, Cassidy said.
The Obama administration's attempts at job creation through spending was not an efficient solution to the unemployment problem, Cassidy said.
Cassidy referenced former member of the Federal Reserve Alice Rivlin, who said stimulus spending combined short term economic goals with a broader agenda to improve schools, health care for children and other programs.
Cassidy shares Rivlin's doubts that the Chinese, and other countries holding huge amounts of United States government debt, will continue investing to pay for America's social experiments.
Cassidy said he supports a balanced budget requirement for the federal government which would curb spending, a measure that seems to be common sense among his constituents.
"If I could take the wisdom in this room and channel it to Washington D.C., this country would be much better off," Cassidy said.
The congressman also said the $14 trillion debt is now so enormous that it must also be addressed by growing the economy. And that can only be accomplished by making the United States a more attractive investment, Cassidy said.
Comments
Post has no comments.