You're watching...
Former Sen. Blanche Lincoln, (D-Ark.), on the impact of regulations on business.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
And politicians get a pass for the rules and regulations that they create for all the rest of us.
It's only when those politicians while the real world that they realize how stifling some of those regulations really are.
Such a revelation may be dawning on -- on our next guest former senator Blanche Lincoln who -- now working.
For the National Federation of Independent Businesses she joins us now senator like -- good to see -- I I tell you one politician.
Who wide dealt -- -- who had this sense of regret that was George McGovern ran for president.
Where she was senator for many years after -- got out of politics he opened a small hotel.
That hotel went bankrupt because of some of the rules and regulations that he himself had written.
And he wrote an article in the Wall Street Journal had a regretting that in which he said I wish that during the years I was in public office.
I had had this first hand experience about the difficulties -- business people face.
Every day.
Did you have the same kind of regrets once you realize what small businesses were going through.
Now I don't have any regrets about my time in the senate I enjoyed it thoroughly and worked hard as a good moderate -- pro business -- Copyright and I are lining up you never wrote any regulation that was excessive or never was a part of any regulation that was excessive.
Well mostly mostly what happens is we do leave a lot of of latitude for the agencies in terms of the regulations that have to be written we try really hard.
Of congress do and that is to not micro manage what they're doing but set the parameters and then.
On leave it up to the agencies with the latitude to be able to put into place with even -- input from.
You know the general public and businesses to be able to come up with regulations that work and that those weaknesses are so frustrated senator and.
And you know aren't that -- -- independent business as a living because they don't they don't get the hearing that they need that they deserve that's what I try to clear feedback they don't they don't get -- listening here.
All right well that's one of the things we're asking for and not out worked.
-- continually within -- five day when I was innocent and I'm proud to be working as a spokesperson.
For sensible -- dot org which is a great effort that we put forward.
To really focus on that every president back to Reagan.
On as it has executed.
-- you know presidential.
Orders to to clean up the regulatory -- -- exists what we're asking not eliminate all the regulations.
We think there are some that are good but there's a lot more that are less important.
Or not that -- let me.
Brought wanna -- -- senator reminded -- specifically.
At one thing that -- to.
McGovern said also is that one size fits fits all rules for business ignore the reality of the marketplace -- obviously get a Dodd-Frank.
Which treats the small banks basically same is a big ones -- -- banks are getting killed.
Another not the small banks are not getting killed and we have one -- -- -- senator I'll give you the names of the ones we have and they are getting killed and.
OK well -- -- what there were a lot of banks in a lot of positions where they shouldn't have BN we tried very hard not to treat them all as the saying.
The small banks don't have all of the same regulations that some of the larger financial institutions.
For the fact reminds that we still have the best financial institutions.
In the world and that got an opportunity now I think to lead the world in the world's economy as we try to put it back and applies.
I think you know as we're continuing to work to grow our economy one of the most important things we can do is working with banks and particularly with small businesses.
Is deal with this tidal wave of regulations that that are pending right now in Washington.
The worst thing coming out of Washington right now is uncertainty and that's what small businesses and big businesses alike are having to deal with us.
And one of the things that we're trying to do is to ensure.
That.
Any of the the candidates that are out there are right now running for congress or more importantly were running for president.
On that we hear their voices and we hear them talking about what it is they intend to do as I mentioned every president back to Ronald Reagan.
Has put out executive orders but.
Well yes -- -- -- executive what are a lot of let me correct you on one think senator because under under president Reagan's first term.
He had 9000 regulations fewer as a result of genuine regulatory cutting that took place during his administration whereas in the first term.
Of the Obama administration we have had 121649.
New regulation so there's a big difference.
We've got 4200.
Pending regulations that's tremendous uncertainty -- businesses to have to deal with.
One of the things that we want to make sure is that we talk about.
And we we hear our candidates talking whoever's going to be in this -- in the next administration.
We want to ensure that we have a commitment that they're gonna come in and -- some of that spring cleaning at the bit we're not just looking for agencies to comment tell us.
All of what they have on their books that their books are full we want to hear them saying that they're gonna be cleaning out they're going to be doing the spring cleaning and if they're gonna set into place a whole new regime.
Of how regulations would be will be built a small businesses will have a place at that -- -- Let's hope they do senator Blanche Lincoln is gonna try to make sure that they will from the national federation of.
Independent business is good to see is senator thanks for -- met what's the best way to -- the economy back on track remaining and what was on that -- -- web -- against senator it's sensible it's sensible -- dot.
Dot org sensible way to spread out and you hear from a lot.
Small businesses -- good stuff thank you senator appreciated -- start to.
