OCR Text |
Show G&rair to since 1960, while wages are up 65. The U.S. has one of the lowest productivity rates in the world. Regu- . lations, capital shortages, waste and crime and other factors have dropped us far behind Japan and other currently cur-rently leading countries. Marriott has co -sponsored the Small Business Impact Im-pact Statement Act, the Paperwork Pa-perwork Reduction Act, which will reduce the cost to small businesses and increase in-crease their working capital. capi-tal. He has also co-sponsored co-sponsored an Omnibus Small Business Development Act aimed at providing incentives in-centives for small business. All of these legislative solutions are virtually necessary nec-essary If we are to get our economy back on the track. The solutions are there if we'll only implement them and allow the small business busi-ness community to return to its place as the lifeblood of our economy. It can be done and I am continuing to work in that direction. Congressman Dan Marriott Mar-riott took aim at the ills of the lagging U.S . econom y and cited Increased productivity as the solution. He noted that small business is the backbone back-bone of the free enterprise system, comprising all but about 600,000 of the nation's 13.9 businesses. "Small businessses provide 43 of the gross national product, 58 of jobs, 98 of all new jobs and a livelihood for over 100 million Americans. However, the impact of small business is declining. "Unless direct and concerted concert-ed action is taken now, small business, the mainstay of the truly competitive system will continue to decline and have disastrous consequences consequen-ces for the American economy," he said. The major problem facing small business is inflation, which averaged 8 in the 1970's and ended at a high of 13.1. Regulations and paperwork paper-work cost the public and the business community about $130 billion. The cost of paperwork alone was 143 million man hours and $20 billion for small businesses alone. Lack of productivity Is a major problem as well as the source of the solution. Productivity is down 52 |