Remarks from U.S. Chamber chief economist

Dr. Martin Regalia, the U.S. Chamber’s chief economist, was in Memphis Friday to talk about the national economy and about small business.

Here’s his quick take on the state of the economy at the moment:

“Fiscally, this country’s a mess. We spend too much, bring in too little, and we’ve got to fix that.”

He does believe the economy’s fundamentals are getting better. One reason he labeled the so-called sequestration – across-the-board spending cuts approved as part of a budget deal last year – as “lunacy” is because congressmen essentially don’t get paid to say ‘no.’

“We send them there,” Regalia said, “to spend money.”