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DEL.ICIO.USLeave money in Washington? It’s right road to take
The Atlanta Journal-Constitution
This could be the moment when the Republicans who run Georgia answer the question: What difference does it make?
What difference does it make whether one party or the other runs Georgia?
What they say and do today in response to the $787 billion spend-a-thon that’s been disguised as “economic stimulus” will tell us a great deal about the horse flesh in the 2010 race for governor and lieutenant governor.
Gov. Sonny Perdue, bless his disciplined soul, took a risk Sunday in declaring that Georgia is prepared to leave stimulus money in Washington. It’s the right thing to do.
Faced with an atrocious spending bill masquerading as something it’s not, every single Republican in the U.S. House of Representative opted for a principled course. They voted no. Same in the U.S. Senate, but for the Mainers Susan Collins and Olympia Snowe and for Arlen Specter of Pennsylvania.
In the face of every pressure to push money out the door quickly to save Main Street, Republicans balked. It was a single vote that began the process of reaffirming principle in the drive to reclaim the White House in 2012.
A few Republican governors, including Mark Sanford of South Carolina and Bobby Jindal of Louisiana, one or both of whom should be on the GOP ticket in 2012, have begun to balk at taking borrowed money, temporarily given, as incentive to expand social programs.
Jindal, speaking Sunday on NBC’s “Meet the Press,” noted that the “stimulus” merely delays the necessity for states to align spending and revenues.
“Why would you turn down $100 million for federal unemployment assistance for your state?” he was asked.
“The $100 million we turned down was temporary federal dollars that would require us to change our unemployment laws,” Jindal replied. “That would’ve actually raised taxes on Louisiana businesses. We as a state would’ve been responsible for paying those benefits after the federal money disappeared.”
Taking the money would have resulted in a permanent obligation, he said. “It would be like spending $1 to get a dime. Why would we take temporary federal dollars if we’re going to end up having a permanent program?”
Jindal’s position should be Georgia’s — for this governor and the next. Perdue, in fact, expressed similar sentiments Sunday. “We’re going to be doing due diligence on each one of these components and deciding what’s in the best long-term interest of Georgians,” he said.
Interest groups are lined up six deep to persuade legislators to take the money and worry about the consequences later. “The Medicaid program has been underfunded for years, and this is a good opportunity to make the system what it should be,” Georgia Hospital Association vice president Kevin Bloye told the AJC’s James Salzer last week. The “stimulus” allocates an immediate $340 million more to Georgia starting Wednesday with a higher reimbursement rate and an invitation to expand caseloads. After two years, the added money goes away.
Georgia’s strategy should be to take the money that is consistent with what state officials intended to do anyway. Spending on roads and bridges, for example, is an easy take. The state has far more in transportation needs than it has money to build. Sure the money’s borrowed — or printed — but the state would be levying the taxes anyway. Take that money.
If the money is programmed to go away, it should stay away.
This is a time that requires real discipline. It requires discipline because turning down money is difficult, something Nancy Pelosi-Democrats knew in larding up the “stimulus” bill with incentives to expand existing programs. Even a stout fiscal conservative like State Senate Majority Leader Chip Rogers (R-Woodstock) has said both that it’s a “bogus loan program” but that “it would be ridiculous not to spend the money if they send it to us.”
Democrats will hammer those who decline “free” money. Republicans running for governor in 2010 will be forced repeatedly to explain why they let money stay in Washington.
And yet, it’s the right thing to do. It’s the principled, politically courageous thing to do. A politician who won’t say no now lacks the backbone to be governor or lieutenant governor.
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By Ragnar Danneskjöld
February 24, 2009 8:05 AM | Link to this
Good morning all. Our genial host’s morning essay correctly focuses on a new and different tact in the political battles.
The “stimulus” bill is already proved to be nothing but a lard-laden wasteful exercise in futility. Even those three American thinkers who still believe in Keynesian economics will acknowledge that there is nothing in the porkulus bill that will urge any employer in the productive economy to retain a single employee, much less hire one. Sure lots of corporate welfare for DOTs all over the country; more such paving should warm the cockles of democrat hearts everywhere. And everything else in the Obama-driven law is welfare and augmentation to government budgets. Hard to see any value to the productive economy there.
We note that President Obama has never suggested that there was anything in the Pelosi-driven “stimulus” that would actually have a beneficial effect on the economy, so we will not challenge his honesty. He has called it “necessary” but that is not the same as “beneficial” – sometimes a concealed agenda can make “necessary” for one that which is wholly destructive to something precious to others. The economy is precious for 325 million Americans, but irrelevant to the goals of the administration.
I need not redistribute the 100 arguments I posted on this blog over the past three weeks – by now everyone knows why the “stimulus” will never stimulate. However, I am negligent if I fail to note for our friends Dr. Sowell’s wow-factor essay this morning.
Mr. Wooten notes the change in Republican argument. Nobody with any economic sense needs to be persuaded of the wrong-headedness of the Obama programs. The state of economic literacy in the country suggests that knowledge is good for only 20% of the vote, and they all voted against Obama in 2008 anyway. Thus a change in strategy is necessary.
The change in strategy is to view the “stimulus” in morality terms. “It is immoral for a state to accept a Federal bribe to do that which is harmful long term.” The tautology is manifest, and the predicate assumption is relatively easily proven. Bobby Jindal establishes himself as spokesman for the argument. By all accounts Jindal is a genius, and no democrat is smart enough to take him on directly. (We note Obama’s loony and lame suggestion, that Jindal is a tool of Limbaugh; epithets only. Does that not prove Obama is an Empty Suit, no smarter than the dumbest bloggers on the epithets-thread of this blog?) The democrat responses to a morality argument will be to ignore the morality question first, then to deny the statutory evidence.
If the Republicans stick to the morality theme, it will be comparatively easy to tie the democrats to the causation of the economic distress. The moral failings, both in conception and in execution, at democrat-led and –protected FNMA and FHLMC are comparatively easily grasped. The democrat-conceived and –protected Community Reinvestment Act was a similar significant and immoral factor. The only significant component of the current panic with any republican fingerprints – the Fed’s excessively liberal monetary policy from 2003 to date – is mere republican implementation of long-standing democrat policy. “Inherent immorality in Democrat policy” is a winner.
Note to friends: I am ready for the next argument, too, the democrats’s “mortgage rescue” program. Why should taxpayers-who-do-right bail out any mortgage larger than $150,000? The comic secret is that the entire mortgage problem is among democrats with mortgages larger than $150,000. But that is for another day.
By Mid-South Philosopher
February 24, 2009 8:06 AM | Link to this
Good morning, Jim,
On this issue, my friend, we are in total agreement.
The audacity of the national government to hamstring the states with the old, tired, and putrid “unfunded mandates” in order for the latter to receive the monies of the “stimulus” (wink, wink, nod, nod) demonstrates that “Barry” Obama and his “team” are part of the same old “Washington insider” mentality that has dominated this government for the last five decades.
Oh, for Gloria Peller to ask (instead of “Where’s the beef?”)…WHERE IS THE CHANGE?
It is almost heart breaking. All the Democrats have to offer is “tax and spend”…although they are doing it in reverse order this time. They are spending like drunken sailors right now…the “taxing” will come later!
And, as for the Republicans…they are no better. The only thing they can think of is a “tax reduction.” There is nothing wrong with tax reductions, only it seems as though the only ones who get meaningful tax reductions are the wealthy!
And speaking of taxes, why can’t any of those fools…Democrat or Republican…do anything about the idiotic Alternative Minimum Tax.
Although it galls me to admit it, Silly Sonny is right on this one. Let the feds keep “our” money.
By Peter
February 24, 2009 8:19 AM | Link to this
What a bunch of Baloney from Jim today as per the norm……………. heck is isn’t on the same page as his excited Governor to get the money.
Well seems like Sonny is a happy camper getting the cash from Washington !
In his first White House meeting with President Obama, the Republican governor praised the new Democratic president for his candor and openness during the Monday morning meeting with members of the National Governors Association.
“It was a very candid, forthright discussion,” Perdue said in an interview outside the White House after the meeting. “I thought he was very amenable in understanding the differences in our states and [our] different challenges,” he said. “And I was very encouraged that we’ve got an administration that states like Georgia are going to be able to work with for the long-term benefit of not only our state but the United States of America.”
How about that…….I guess the Rep’s on this blog had better clue into what is going on with their own party before the foot in mouth disease kicks in …
Jim has already caught it like a bad cold !
By Maniac is accurate
February 24, 2009 8:33 AM | Link to this
Spend what makes sense and leave the rest lie. First, do no harm. Politician heal thyself.
By debbie0040
February 24, 2009 8:46 AM | Link to this
http://atlantateaparty.blogspot.com/2009/02/nationwide-chicago-tea-party-atlanta.html
ATLANTA TEA PARTY Friday, February 27th 12:00 Noon EST Location: Georgia State Capitol Building Downtown Atanta
ATLANTA Tea Party FaceBook Event Info
As a result of Rick Santelli’s rant on CNBC earlier this week, there is now a nationwide movement to hold tea parties at various locations throughout the US in order to protest the Obama Administration’s economic policies and liberal spending bills! Conservatives, Liberals, and Independents are all involved in this effort! Talk about bipartisan support…this movement is full of bipartisan support! Perhaps the Adminstration and our no good, spend, spend, spend, and spend some more Congress could learn a thing or two from this effort! First, they are going to have to get their heads out of their a**es! Perhaps this movement will get their attention!
The bottom line is that we the people are fed up with the shenanigans of Washington! This movement is the beginning of having our voices heard and taking back our government that has been hijacked by a bunch of egotistical politicians that are out of touch with reality!
To move quickly with this effort, Top Conservatives on Twitter, Smart Girl Politics, the DontGo Movement, Americans for Tax Reform, the Heartland Institute, and American Spectator Magazine have joined forces to announce a “Nationwide Chicago Tea Party”, to be held on Friday, February 27 at noon EST. The tea party will be held simultaneously in Chicago, Washington DC, Atlanta, Orlando, and other locations around the US. This event will also be held on Twitter using the #teaparty hashtag.
If you are in Georgia and would like to participate or assist with this event, please contact me. We definitely want this event to be successful and the more people in attendance, the bigger statement we make and the more successful we will be in having our voices heard! We can do this people! Don’t let any of these other cities put us to shame! Bring your best southern hospitality and let’s have some fun while making a statement! We are working on local media being in attendance along with some state legislators. We are also hoping to get some publicity from local radio shows! As you know, the more people in attendance, the more publicity we will get! This event will be held Friday at 12 noon so what a great way to kick off your weekend. Happy hour will sure feel good on Friday! So what do you say…come join me for the party!
For more information, please refer to the FaceBook Event page and/or www.nationwidechicagoteaparty.com. You can also email atlantateaparty@gmail.com or email me directly at southernbelleblog@gmail.com.
If you have any contacts with state officials or local media, we sure can use your help in getting their attention! Even if you cannot attend, please consider helping in coordinating a successful event!
I hope you will join me! They more the merrier! Posted by Southern Belle at 10:06 AM
Labels: American Spectator Magazine, Americans for Tax Reform, Atlanta, Chicago Tea Party, Don’tGo Movement, SGP, Smart Girl Politics, TCOT, The Heartland Institute, Top Conservatives on Twitter
By findog
February 24, 2009 8:48 AM | Link to this
Reminds me of the short republican candidate last year (Dr. Paul), railed against earmarks but insisted that if they were available his constituents should get them. Politicians doing the right thing because it’s the right thing without consideration of how it will play out in the next election or poll?
Certainly refuse any funds that place unfunded mandates on our state that we are not willing to pick up later. The test will be if our leaders who are looking for promotion will stand the fire of the special interests that will decry any perceived deficiency in public policy that could have been allayed by temporary federal funds.
Of course if we use the money for congestion relief in Atlanta there will be increased maintenance costs when they repave the added lanes, or have to staff congestion relief centers for smart signal systems. By the time our state government did a cost benefit analysis of stimulus grants we’d have a new governor. This is where the belief in God and prayer is my only consolation for Georgia’s leaders have yet to meet this standard in my 35+ years of residency.
The funniest thing is the governor’s web site to track the stimulus money. When they were trolling for input from communities they could simply send an email with a project name, cost, shovel ready date, and expected number of jobs created. No numbers on facilities served, possible economic impact, or any other system to determine the merit of one project against another.
By debbie0040
February 24, 2009 8:49 AM | Link to this
http://atlantateaparty.blogspot.com/2009/02/nationwide-chicago-tea-party-atlanta.html
ATLANTA TEA PARTY Friday, February 27th 12:00 Noon EST Location: Georgia State Capitol Building Downtown Atanta
ATLANTA Tea Party FaceBook Event Info
As a result of Rick Santelli’s rant on CNBC earlier this week, there is now a nationwide movement to hold tea parties at various locations throughout the US in order to protest the Obama Administration’s economic policies and liberal spending bills! Conservatives, Liberals, and Independents are all involved in this effort! Talk about bipartisan support…this movement is full of bipartisan support! Perhaps the Adminstration and our no good, spend, spend, spend, and spend some more Congress could learn a thing or two from this effort! First, they are going to have to get their heads out of their a**es! Perhaps this movement will get their attention!
The bottom line is that we the people are fed up with the shenanigans of Washington! This movement is the beginning of having our voices heard and taking back our government that has been hijacked by a bunch of egotistical politicians that are out of touch with reality!
To move quickly with this effort, Top Conservatives on Twitter, Smart Girl Politics, the DontGo Movement, Americans for Tax Reform, the Heartland Institute, and American Spectator Magazine have joined forces to announce a “Nationwide Chicago Tea Party”, to be held on Friday, February 27 at noon EST. The tea party will be held simultaneously in Chicago, Washington DC, Atlanta, Orlando, and other locations around the US. This event will also be held on Twitter using the #teaparty hashtag.
If you are in Georgia and would like to participate or assist with this event, please contact me. We definitely want this event to be successful and the more people in attendance, the bigger statement we make and the more successful we will be in having our voices heard! We can do this people! Don’t let any of these other cities put us to shame! Bring your best southern hospitality and let’s have some fun while making a statement! We are working on local media being in attendance along with some state legislators. We are also hoping to get some publicity from local radio shows! As you know, the more people in attendance, the more publicity we will get! This event will be held Friday at 12 noon so what a great way to kick off your weekend. Happy hour will sure feel good on Friday! So what do you say…come join me for the party!
For more information, please refer to the FaceBook Event page and/or www.nationwidechicagoteaparty.com. You can also email atlantateaparty@gmail.com or email me directly at southernbelleblog@gmail.com.
If you have any contacts with state officials or local media, we sure can use your help in getting their attention! Even if you cannot attend, please consider helping in coordinating a successful event!
I hope you will join me! They more the merrier! Posted by Southern Belle at 10:06 AM
Labels: American Spectator Magazine, Americans for Tax Reform, Atlanta, Chicago Tea Party, Don’tGo Movement, SGP, Smart Girl Politics, TCOT, The Heartland Institute, Top Conservatives on Twitter
By Peter
February 24, 2009 8:51 AM | Link to this
He Jim……..
Read your own Paper ……..Sonny is HAPPY to Get the MONEY !
SPIN……. SPIN…….SPIN Jim………
Are you along on the same ride as the nut job spokesman for the Wrong party……???????
The idiot on the radio, that wants AMERICA TO FAIL ?
By babs
February 24, 2009 8:54 AM | Link to this
I feel that our Governor is on the right track. This money, is a buy out for votes, just take what you need and no more. He is thinking of the people living in this State of Ga. Maybe, people should have thought about this back in Nov, instead of wanting another Mom and Dad, to take care of them.
By Davo
February 24, 2009 8:55 AM | Link to this
100% with you on this one JW.
I wouldn’t hold out much hope for Perdue to suddenly ‘show up’; it’s not in his character. He’s more the ‘do nothing, make no waves’ kind of guy.
By babs
February 24, 2009 8:57 AM | Link to this
I feel that our Governor is on the right track. This money, is a buy out for votes, just take what you need and no more. He is thinking of the people living in this State of Ga. Maybe, people should have thought about this back in Nov, instead of wanting another Mom and Dad, to take care of them.
By ron
February 24, 2009 9:02 AM | Link to this
Good morniing,Republican Governors are throwing up a few trial balloons about not taking money,then they’ll study the polls and decide.Politicians not taking money is like a hound dog passing by a dish of dog food without eating.Arare occasion.
Apparently the money Jindal doesn’t like is unemployment insurance money,that would eventually cost his businessmen higher taxes in order to keep future enemployment benefits on a par where the feds would like to see them.This is something no good Republican can stand for.They all know that unemployment benefits are the root of all evil and the underlying cause of all unemployment.Do away with unemployment benefits and you will eliminate unemployment.Even in times such as these,when there are few jobs available.
Take the folks laid off from Peanut Corp as a prime example.Any good Republican will tell you that Peanut Corp was shut down due to government regulations.Lift the regulations and Peanut Corp would be back in business tomorrow,and all the workers would be called back to work,eliminating the need for unemploynment benefits.See how simple life can be if you’re a good Republican?
Methinks that a really courageous Governor would turn down all of the spendulus money coming to his state if he wanted to really prove a point.
By SackSniffer
February 24, 2009 9:21 AM | Link to this
More people need to be aware of the slippery, lying and scummy way that Obama is changing laws. Instead of outright voting on a law he says, here is some “stimulus” money, but you need to change your state laws to get it, and by the way this is only seed money. You will need to fund it later, that is like getting a life time membership to a health club as a present but the giver only made the first payment and you need to pay for it the rest of your life and it is 1000 miles away…. WAKE UP AMERICA
By reasonable
February 24, 2009 9:24 AM | Link to this
I agree completely. Why can’t we accept that business leaders have the best interests of America at heart, and, let’s face it, that they quite simply have higher moral standards than we regular Joes? They don’t need market restricting oversight. They can be trusted to do the right thing for the majority of Americans. Trust your business leaders! Everything will be OK!
By Algonquin J. Calhoun
February 24, 2009 9:24 AM | Link to this
The Republinazi governors, in true Republinazi fashion, will rail agains the stimulus and then they’ll take a check and go on home. This is a time for trying to get the economy back on line, a time for trying to shore up the economy of each state. Perdon’t and the others need to take the money, help their state and shut their duplicitous mouths.
By Glenn
February 24, 2009 9:24 AM | Link to this
Yes, I must agree with our esteemed columnist, that the Governor is disciplined, may God truly bless him. Consider yourself a politician with the power to spend and spend. OK. Well, this particular politician chooses to do the opposite of what you want done. Why?
Because he does this every day, and, looking after you, he wants better for you. You may not expect that of an elected official, but then you just might get lucky and find that the “Elected” is one of You, a neighbor.
Consider this.
By F-22 Man
February 24, 2009 9:26 AM | Link to this
Sonny sure is making it easy for Obama to cancell the F22 program. Wish we had a congressman who could help us out. I’ll beneeding that increase in unemployment in a few weeks.
By Steven Daedalus
February 24, 2009 9:31 AM | Link to this
Why will Republicans never take responsibility for what they’ve done? They have gotten us into this mess with their unbridled greed and spent us into oblivion with their unjustified wars and tax cuts for the rich. Where is the Reagan trickle down, how come it didn’t create any jobs? Why, because its the dumbest economic theory in history, espoused by the dumbest two presidents in history, Reagan and George W. Bush. Sonny Perdue says if accetpts this money he won’t be able to look his grandchildren in the eye, why is he worrying, his grandchildren will be fine with the money he’s taken from government.
By Big Bucks GOP
February 24, 2009 9:33 AM | Link to this
The government faces mounting pressure to put billions more in some of the nation’s biggest banks, two of the biggest automakers and the biggest insurance company, despite the billions it has already committed to rescuing them, The New York Times’s Edmund L. Andrews, Andrew Ross Sorkin and Mary Williams Walsh report.
The government’s boldest rescue to date, its $150 billion commitment for the insurance giant American International Group, is foundering. A.I.G. indicated on Monday it was now negotiating for tens of billions of dollars in additional assistance as losses have mounted.
A.I.G. serves as a cautionary note about the difficulty of luring private investors when the size of the losses is unknown. In the months since the government initially stepped in last fall to take an 80 percent stake in the insurer, the company has suffered deepening losses and has been forced to post more collateral with its trading partners.
The company, according to a person close to the negotiations, is discussing the prospect of converting the government’s $40 billion in preferred shares into common equity.
The prototype could turn out to be Citigroup, which is negotiating with regulators to replace the government’s nonvoting preferred shares with shares that are convertible into common stock.
In an unexpectedly assertive joint statement, the Treasury Department, the Federal Reserve and federal bank regulatory agencies announced Monday that the government might demand a direct ownership stake in major banks that do not have enough capital to weather a deeper downturn.
“We absolutely believe that our private banking system is best off being in private hands and we are trying our best to keep it that way,” one senior administration official, who spoke on condition of anonymity, told The Times. But, he continued, the government is already deeply involved in propping up the banking system and may have no choice.
By Glenn
February 24, 2009 9:35 AM | Link to this
I understand how Sonny could hurt the F22 program, but still I can’t understand how such a good plane could be sundered by a single Southern governor. It’s a marvelous airplane, and terribly lethal. How could the Governor of the State of Georgia possibly kill the whole project? There’s Marietta, but there’s also — well, you know — ELSEWHERE…
By Big Bucks GOP
February 24, 2009 9:35 AM | Link to this
A judge on Monday ruled that former Merrill Lynch chief John Thain is free to disclose the names of individuals who received bonuses awarded by the former investment bank before it was bought by Bank of America.
By Big Bucks GOP
February 24, 2009 9:37 AM | Link to this
JPMorgan Chase slashed its quarterly dividend on Monday afternoon to 5 cents a share from 38 cents, an 87 percent reduction, and the bank said it expected to maintain that dividend “for the time being.”
By Big Bucks GOP
February 24, 2009 9:38 AM | Link to this
The Obama administration’s plan to take an increased stake in Citigroup echoes the British government’s experience with one of its biggest banks, the Royal Bank of Scotland, a once highflying universal bank that is now nationalized in all but name only.
By Big Bucks GOP
February 24, 2009 9:39 AM | Link to this
The government’s investments in the nation’s ailing banks, made through the Troubled Asset Relief Program, or TARP, have fallen at least 55 percent since the program started making capital injections last October.
By Peter
February 24, 2009 9:40 AM | Link to this
WOW………..Spin baby……
“By reasonable
February 24, 2009 9:24 AM | Link to this
I agree completely. Why can’t we accept that business leaders have the best interests of America at heart, and, let’s face it, that they quite simply have higher moral standards than we regular Joes? They don’t need market restricting oversight. They can be trusted to do the right thing for the majority of Americans. Trust your business leaders! Everything will be OK!”
Easily the most “UNREASONABLE” thought I have heard in a while……
They are greedy folks who don’t mind passing out Bonuses to failing executives, with tax payers money.
So that is a High Moral Standard ? I guess more “Republican Family Values ” !
By Big Bucks GOP
February 24, 2009 9:41 AM | Link to this
A fund of hedge funds run by two members of Vice President Joe Biden’s family was marketed exclusively by firms controlled by Robert Allen Stanford, the financier sued by United States regulators over what they say was an $8 billion fraud, The Wall Street Journal reported.
By Big Bucks GOP
February 24, 2009 9:42 AM | Link to this
A fund of hedge funds run by two members of Vice President Joe Biden’s family was marketed exclusively by firms controlled by Robert Allen Stanford, the financier sued by United States regulators over what they say was an $8 billion fraud, The Wall Street Journal reported.
By ButtHead
February 24, 2009 9:43 AM | Link to this
Get spending back in line? Are you on drugs? If you think W was spending like a drunken sailor, the dimacrats spent in less than a month more than W spent in 8 years. Why not balance the budget and don’t spend what you don’t have! What a novel concept that is lost to our government officials, and apparently on some of you!
By Leon
February 24, 2009 9:43 AM | Link to this
Rag,
Where was Republican “morality” as the party facilitated our economy’s careening towards the abyss? (see Gramm-Leach-Bliley act) Or is that yet another variation of the farcical sham known as “compassionate conservatism”? Oh and while we’re at it your beloved Dr. Sowell is a fear-mongering hack. His particular type of screed is little more than fish wrapping for the dung he’s attempting to foist onto the sensisiblities of MOST Americans. This type of cowplop was completely repudiated in the last election unless you’re in total denial……..oh wait, never mind.
By Redneck Convert
February 24, 2009 9:43 AM | Link to this
Well, I’m with old Sonny. You can’t go making it good for lazy people to loose a job and live off of the dole. If they got higher unemployment benefits then they might could decide not to look for another job. Now if the money was to help big business out with unemployment taxes, Sonny might take it. That’s the way it should be in a Free Innerprize system.
Anyway, got a call last night from a old friend, Lace Manspile. He wanted to know if there was any jobs in the beer truck driving business. He’s been working on this F-22 program but the way things are going it’s for sure this Obama won’t order more planes, what with it being in a Republican state and all. Lace said it don’t help none that we got Tom Price and all the other GA Republicans in Congress blasting Obama most of the time. Seems they don’t see buying more planes than we need as pork spending, but they sure don’t want to raise unemployment benefits. I told old Lace to lower his living standard if he’s going to drive a beer truck.
Have a good day everybody.
By Big Bucks GOP
February 24, 2009 9:44 AM | Link to this
The National Basketball Association is borrowing $175 million for 15 teams that are in tough straits, according to The Sports Business Journal.
By Big Bucks GOP
February 24, 2009 9:46 AM | Link to this
A broad sell-off on Monday sent the Dow Jones industrial average tumbling 250.89 points and pulled the Standard & Poor’s 500-stock index to its lowest close since April 1997
By Big Bucks GOP
February 24, 2009 9:47 AM | Link to this
The American International Group, rescued twice last year by the U.S. government, is bracing for a fourth-quarter loss of roughly $60 billion.
By findog
February 24, 2009 9:47 AM | Link to this
While not wanting to upset my learned friend Ragnar I ask what should be the minimum tax?
I would say 15-percent. That is what the burger flipper at McDonalds contributes to the treasury. While it is in the form of social security, Medicaid, and Mr. McDonalds matching contribution it is still a tax they pay that congress has used as their ATM.
So if we could possibly agree that the minimum is fifteen then we could solve several taxing issues. Reduce corporate, estate (after they return), minimum alternate, and capital gains to fifteen percent. See where that gets revenue and then work on the marginal rates.
As for the argument against these taxes the burger flipper’s money pays for the roads that allow commerce to produce corporate profits, dividends, and capital gains. It pays for the justice department to go after intellectual property theft. Pays for our military to keep us safe. The argument that taxes have been paid once fails to recognize that capital has to be constantly guarded or you end up like the European families after WW-II having lost everything to another state and not a poor investment strategy.
There will be taxes, just like death. Some principled, sustainable, and workable alternative should be developed to what could possibly be a return to the levels established in 1993. While it would be nice to do away with everything not included in George Washington’s government that is not likely so the solution would have to be based on current realities and not the fantasies weak-willed fiscal conservatives have hid behind in the past of trimming waste, fraud, and abuse; reality is that it has to pass through congress.
By Churchill's MOM
February 24, 2009 9:53 AM | Link to this
Jim those IT guys must be real LIBERALS, they keep your work screwed up. Nothing is happening on the Palin front so here’s something on the Madoff front. Am I the only one who thinks he is like Mike Adams og UGA?
http://nymag.com:80/news/businessfinance/54703/
By Big Bucks GOP
February 24, 2009 9:58 AM | Link to this
The author of “The Black Swan,” Nassim Nicholas Taleb, predicts that the global financial crisis will be harder to end than the Great Depression and it may force the United States government to nationalize some banks.
By Big Bucks GOP
February 24, 2009 9:59 AM | Link to this
The development boom that turned Poland, Hungary and other former Soviet satellites into some of Europe’s hottest markets is on the verge of going bust, raising worrisome new risks for the global financial system that may ricochet back to the United States.
By F 22?
February 24, 2009 10:06 AM | Link to this
Do we have any Air Force pilots out there who support the F22? From what I’ve been able to ascertain, the pilots want a mission-specific aircraft, not a swiss army knife. They want an A10 for close ground support, an F15 E for air to ground attack, and an F15 A for air to air combat.
By F 22 Man
February 24, 2009 10:10 AM | Link to this
Glenn 9:35 AM
The F22 is Pork, a waste of taxpayer money, since our Governor and Congressmen are opposed to Pork then Obama will make them happy be eliminating this waste from the defence budget.
By Ga Values
February 24, 2009 10:19 AM | Link to this
I still have over 60 days before I can comment about Obama but Sonny is at best hopeless. Yesterday I carried my lab over to Burge Plantation to pick up birds from a private shoot. It was paid for by a big name law firm, I saw a few real estate developers that I knew and asked them how they were doing, they all said they were broke. 1 said he had gone to Washington to meet Johnny the Socialist. His plan was to give the money directly to developers rather than letting the banks waste it. Sure am glad I don’t own any Land Rover stock. Everyone has their hand out now.
By Ga Values
February 24, 2009 10:36 AM | Link to this
Churchill’s MOM 9:53 AM
thanks for the link that was really interesting..
By Ragnar Danneskjöld
February 24, 2009 10:39 AM | Link to this
Dear Leon @ 9:43, “Where was Republican “morality” as the party facilitated our economy’s careening towards the abyss? (see Gramm-Leach-Bliley act) Or is that yet another variation of the farcical sham known as “compassionate conservatism”? Oh and while we’re at it your beloved Dr. Sowell is a fear-mongering hack. His particular type of screed is little more than fish wrapping for the dung he’s attempting to foist onto the sensisiblities of MOST Americans. This type of cowplop was completely repudiated in the last election unless you’re in total denial……..oh wait, never mind.” The republican morality was in place. No rational soul believes any element of GLB had anything to do with the criminality at FNMA or FHLMC, nor with the regulators’s misuse of CRA, and those – along with the liberal money policy at the Fed – were the exclusive causes of putting the taxpayer on the hook for the real estate bubble.
The leftists who proclaim their knowledge superior (to that of free people making free decisions) usually choose to conceal the name of the president who signed GLB into law, and always avoid discussing how GLB purportedly damaged the economy. The modern leftist believes freedom is the core flaw harming society, and is dedicated to reining in that freedom everywhere possible. Strange that you should discuss “fear-mongering hacks” when you are a cultist dedicated to implementing the policies of one who for six months has proclaimed the current financial panic the “worst since the Great Depression.” While that statement was false when made during the campaign, it would be wrong for us to assess the statement as a lie. He was not making an observation; he was making a promise. And his every move since then appears to be dedicated to fulfilling that promise.
Dear findog @ 9:47, you never upset me by asking my expert opinion, although I would suggest you may be leaning toward the wrong question. The short answer to your question is “enough to fund the military.” Your question omits the vital issue of “tax what?” From the context I infer you mean “income.” I have previously aligned myself with the Fair Tax guys, and otherwise in favor of consumption taxes and against income taxes. I believe those who live large are the ones who obtain the primary benefits of freedom, and thus should be the ones who primarily fund the costs of that freedom. I also believe almost everyone derives benefit from freedom, and should pay a share of those costs – consumption strikes me as a reasonable proxy for the value of the benefit derived. In contrast, mere production of wealth strikes me as an inappropriate element to depress through taxation; income taxes are thus both a moral and economic “wrong.” Otherwise I think you make a sound case in favor of “taxation.”
“You cannot bring about prosperity by discouraging thrift. You cannot help small men by tearing down big men. You cannot strengthen the weak by weakening the strong. You cannot lift the wage-earner by pulling down the wage-payer. You cannot help the poor man by destroying the rich. You cannot keep out of trouble by spending more than your income. You cannot further the brotherhood of man by inciting class hatred. You cannot establish security on borrowed money. You cannot build character and courage by taking away men’s initiative and independence. You cannot help men permanently by doing for them what they could and should do for themselves.” —Presbyterian minister William J.H. Boetcker (1873-1962)
By Southern Democrat
February 24, 2009 11:01 AM | Link to this
Been a while, friends.
To my friend Jbmlaw, with all due respect to the Rev. Boetcker (which is very little), I shall stick with the primary source:
16 And behold, one came to Him and said, “Teacher, what good thing shall I do that I may obtain eternal life?” 17 And He said to him, “Why are you asking Me about what is good? There is only One who is good; but if you wish to enter into life, keep the commandments.” 18 He said to Him, “Which ones?” And Jesus said, “You shall not commit murder; You shall not commit adultery; You shall not steal; You shall not bear false witness; 19 Honor your father and mother; and You shall love your neighbor as yourself.” 20 The young man said to Him, “All these things I have kept; what am I still lacking?” 21 Jesus said to him, “If you wish to be complete, go and sell your possessions and give to the poor, and you shall have treasure in heaven; and come, follow Me.” 22 But when the young man heard this statement, he went away grieved; for he was one who owned much property.
23 And Jesus said to His disciples, “Truly I say to you, it is hard for a rich man to enter the kingdom of heaven. 24 “And again I say to you, it is easier for a camel to go through the eye of a needle, than for a rich man to enter the kingdom of God.” 25 And when the disciples heard this, they were very astonished and said, “Then who can be saved?” 26 And looking upon them Jesus said to them, “With men this is impossible, but with God all things are possible” (Matt. 19:16-26).
By Algonquin J. Calhoun
February 24, 2009 11:18 AM | Link to this
The stimulus represents bold action on the part of Democrats to start un-doing the fiscal destruction of the economy by the Republinazis. For Perdon’t to refuse the money would be in keeping with his hypocritical past performance but he’s going to take the money. He’s going to criticize it, make it sound as if it’s forced upon him and then he’ll take the money. All the high-sounding rhetoric, feigning concern for future generations, is just what it sounds like-b******.!
By Chris Broe
February 24, 2009 11:18 AM | Link to this
It’s too bad that Louisiana simply cant change it’s unemployment laws back to what they were after the stimulus money runs out.
Unemployment money is economic fuel injection; it is money that gets spent immediately. Obama could choose to do nothing. Bush did nothing and we’re fine. Market forces are self-correcting, and have done wonders for us all. The bank-crisis blame? Ann Coulter points to “yuppie-scum house flippers” who deserve foreclosure.
Lousiana Governor Bobby Jindal is like a weary Indian chief who actually read the land treaty, “If we give up sacred hunting grounds, then what happens when buffalo run out?” He doesn’t trust, but then few of us trust anymore. That’s why we have a credit crisis. That’s why we need the stimulus package.
Wooten reminds me of a 70’s television superstar demanding to know, “Where the beef”. (all he sees is pork).
The Balking Governors are like children who refuse to clean their supper plates. How can they have any pudding if they don’t eat their meat? Trying to impress loyal buffet guests, they’re making a gamble that only the House wins.
South Carolina’s Mark Sanford comes across like “The Godfather” character Moe Green: “Obama doesn’t buy me out, I buy him out. Obama doesn’t have that kind of muscle anymore. Do you know who I am? I’m Moe Green!”
Blogfather to Balking Governors: “Leave the Con. Take the Clamolas.”
By Audrey in Georgia
February 24, 2009 11:25 AM | Link to this
The citizens of Georgia should always remember their Governor and other republicans voted AGAINST education, transportation, healthcare, and unemployment benefits. I will never forget this!!!!!
By Glenn
February 24, 2009 11:27 AM | Link to this
Dangit, I agree with your column, Jim, and agree also with the Governor’s reluctance to buy into certain federal bribes. I’d hoped that Georgia’s Governor would have the Whatever-it-Takes to stand up to the Feds, and biGod he does have it.
I’ll grant you, and him, that much. And I’ll grant y’all further that that’s really saying something. The rest of the states, for the most part, are perfectly happy to bend over for fiscal bailouts from spendthrift feds led by now-President Obama.
What are they doing? Is is wise?
By Glenn
February 24, 2009 11:37 AM | Link to this
Only thing could top it, for Civic Emotivism, than having a swinging first Black President, would be having a swinging black version of Jimmy Carter — in other words, a perfectly failed first black President of the United States.
That’s exactly where President Obama is headed.
Sorry.
By Audrey in Georgia
February 24, 2009 11:41 AM | Link to this
“So what do we do? Anything. Something. So long as we just don’t sit there. If we screw it up, start over. Try something else. If we wait until we’ve satisfied all the uncertainties, it may be too late.” —Lee Iacocca
By Ragnar Danneskjöld
February 24, 2009 11:49 AM | Link to this
Dear Southern @ 11:01, welcome back. I trust you do not confuse the moral legitimacy of the US government with that of the kingdom of God. Otherwise someone owes an apology to George Bush.
Dear Audrey @ 11:41, “I think that this situation absolutely requires a really futile and stupid gesture, be done on somebody’s part.” Otter Stratton.
By Chris Broe
February 24, 2009 12:14 PM | Link to this
The Balking Governors are like freed North Korean prisoners who predictably strip off the new suits we had given them as they walk across no man’s land toward their army’s watching eyes. They play to their own. That’s how much they despise Armani and the West. That’s how much the GOP reveres the majority of Americans.
The Balking Governors are very obedient children who know better than to take candy from strangers. “Can you help me find my poor little lost puppy, Sonny?” “No! You’re a bad man. You’re a VERY bad man!”
The Balking Governors (From the Balkin’ States), are wishing Obama and his stimulus package into the corn field. Wishing real hard.
The Governors of the Corn!
By Ragnar Danneskjöld
February 24, 2009 12:56 PM | Link to this
Dear ron @ 9:02, I have been mulling your closing argument, “Methinks that a really courageous Governor would turn down all of the spendulus money coming to his state if he wanted to really prove a point.” I think I disagree in part.
President Obama is The President, for all the good and evil that statement may offer. While there is no chance at all that the porkulus bill will have any meaningful beneficial effect on the economy, I think it wrong to intentionally frustrate President Obama’s efforts to flail uselessly at the waves of the incoming hurricane. Every potential recipient of porkulus money has a good faith obligation to calculate the effect of the funds, and all relevant strings, on the body to be funded. If the long term effects are something that the recipient can tolerate, the recipient has a good faith obligation to perform as the government wishes. However, to the extent that the costs are too high, responsible governance requires rejection of the bribe. I think my view is somewhat at variance with Jim Wooten’s argument. Jim would have the local governments reject anything not previously under consideration, and I do not go so far - there is always the possibility that the Congress suggests a good idea, and fairness requires consideration. I think any practical difference between Jim’s postulate and mine is small.
By ron
February 24, 2009 12:58 PM | Link to this
To become a Senator by appointment by a Governor,it takes $10,000.To become an ambassador to England,appointed by a President ,it takes $500,000.Money talks.
By Ragnar Danneskjöld
February 24, 2009 1:03 PM | Link to this
Dear ron @ 12:58, the price difference measures nothing more than the difference in the desirability of living in the District of Columbia and residing in England.
By Leon
February 24, 2009 1:07 PM | Link to this
Rag,
I hold no illusions about who supported & signed GLB into law, the vote was veto proof. Still it was bad policy. For a quick recap:
In 2008, until the U.S. government threw a taxpayer-funded lifeline to Wall Street banks drowning in a sea of bad debt, the potential for these financial giants to go under had been dismissed. The banks were “too big too fail.” It was the 1999 legislation, commonly referred to as Gramm-Leach-Bliley (for its sponsors’ names), that cleared the way for these companies to grow so large.
For decades before, the financial industry had been segregated by government regulations dating to 1933, when Congress passed, and President Franklin Roosevelt signed, legislation known as the Glass-Steagall Act. Sponsored by a former Treasury Secretary known as the “father of the Federal Reserve,” Virginia Democrat Carter Glass, and Alabama Democrat Henry Steagall, the law responded to concerns that over-speculation by banks during the 1920s contributed to the stock market crash of 1929 and, in turn, the Great Depression. Commercial banks were taking too many risks with their depositors’ money. Glass-Steagall set up a regulatory wall between investment banking and commercial banking, prohibiting commercial banks from underwriting insurance or securities.
Sixty-six years later, in 1999, the financial services industry succeeded in essentially shattering Glass-Steagall, after putting a number of cracks in the law over the intervening years.
The problem was legislation was pushed through too quickly and that it didn’t modernize the marketplace’s regulatory system. Among those pressing most aggressively for Gramm-Leach-Bliley was Citigroup, which had merged its bank with Travelers insurance company, and needed a change in federal law to keep the giant corporation together.
The fox guarding the hen house indeed.
By SackSniffer
February 24, 2009 1:16 PM | Link to this
Steven Daedalus “Why will Republicans never take responsibility for what they’ve done?” I want some of what you are smoking! The dimacrats just spent in 30 days more than W did in 8 years…. So according to the logic in your post that would make this current administration by far be the dumbest, and that is in less those 60 days.
By Peter
February 24, 2009 1:24 PM | Link to this
Hey Jim..
After 8 years of Republican’s ……..1.3 Trillion dollar deficit they created out of a surplus……….is there any money left ?
Gotta enjoy the slight of hand Republican’s…….Waste Billions across the globe, and cry about helping American’s at home !
By ron
February 24, 2009 1:45 PM | Link to this
Dear Ragnar——The location and the job together account for the difference in price.No messy elections when you’re an Ambassador.Not much work either.Nice digs too.
Want to venture a guess as to how much of the $900 million pledged to rebuild Gaza will wind up rearming Hamas?
By Chris Broe
February 24, 2009 1:49 PM | Link to this
Iraq’s still in the first inning. Afghanistan’s season hasn’t even started.
The events in Iraq that will define that country’s founding mullahs have not yet happened. Ditto Afghanistan.
But let’s punish Bush’s unemployed. Let’s blame Victims of Cheney. Americans in trouble? I speet on them. We need to rebuild Iraq.
What about Iraqi unemployed? The Balkin’ State governors wish to buy them a parachute. Where is the Iraqi stimulus package?
The Balkin’ state Guvs wanna know!
Bobby Jindal has read the stimulus package. There’s not one penny for Iraqi infrastructure!!! He wont accept a penny of it. It’s an injustice! He will run for president on the Iraqi infrastructure Gap!
Blogfather to Balking Governors: “Leave the Con. Take the Clamolas.”
By Glenn
February 24, 2009 2:45 PM | Link to this
That’s some pretty good mimickry Noonwise, PoFo, but I’m not up to it today. Later, maybe, I’ll fire off about Jim’s good column and your ensuing outrages, but for now, I doubt it.
By Morehouse Guy
February 24, 2009 3:13 PM | Link to this
It seems to me that the proper course of action is to consider each dollar distributed to the state and its economic impact, consider which expenditure will require longer-term changes in state law and assess the extent to which the costs of these longer-term changes (if necessary) outweigh the short-term benefits associated with spending the funds. So, in all honesty, Sonny’s “due diligence” response seems the most reasonable.
My concern is that this “due diligence” will not be exercised in good faith where the kinds of gross simplifications and dogma that informs much of the analysis on this discussion board will be a stand-in for the kind of objective analysis needed to come to a responsible solution.
I think Jindal makes a solid point, but why have we accepted at face value his contentions concerning the impacts that the unemployment expenditures will have on small businesses? What he says could be true, but I’d want to understand precisely what the long-term impacts would be before I proceeded.
I often wonder if we’ll ever get beyond our disdain for the respective parties and actually consider, truthfully and earnestly, the kinds of empirical considerations above. that should inform our decisions.
Many Georgians are experiencing serious economic crises that could be mitigated through applying the funds, and some would be harmed by the attendant policy choices that would accompany the expenditures. Let’s sort out the impacts, consider how they’ll be distributed across the state and make a reasoned decision based on the empirics as opposed to making decisions based on parroting the views of President Obama or Governor Jindal. The well-being of our state requires nothing less.
By Morehouse Guy
February 24, 2009 3:20 PM | Link to this
It seems to me that the proper course of action is to consider each dollar distributed to the state and its economic impact, consider which expenditure will require longer-term changes in state law and assess the extent to which the costs of these longer-term changes (if necessary) outweigh the short-term benefits associated with spending the funds. So, in all honesty, Sonny’s “due diligence” response seems the most reasonable.
My concern is that this “due diligence” will not be exercised in good faith where the kinds of gross simplifications and dogma that informs much of the analysis on this discussion board will be a stand-in for the kind of objective analysis needed to come to a responsible solution.
I think Jindal makes a solid point, but why have we accepted at face value his contentions concerning the impacts that the unemployment expenditures will have on small businesses? What he says could be true, but I’d want to understand precisely what the long-term impacts would be before I proceeded.
I often wonder if we’ll ever get beyond our disdain for the respective parties and actually consider, truthfully and earnestly, the kinds of empirical considerations above. that should inform our decisions.
Many Georgians are experiencing serious economic crises that could be mitigated through applying the funds, and some would be harmed by the attendant policy choices that would accompany the expenditures. Let’s sort out the impacts, consider how they’ll be distributed across the state and make a reasoned decision based on the empirics as opposed to making decisions based on parroting the views of President Obama or Governor Jindal. The well-being of our state requires nothing less.
By Ragnar Danneskjöld
February 24, 2009 4:14 PM | Link to this
Dear Leon @ 1:07, I can see how GLB affected the cost of tea in China, but its relevance to the housing bubble and FNMA/FHLMC fraud still escape me.
Dear ron @ 1:45, I suspect Hamas is the only group likely to be stimulated by the porkulus. Funny idea.
Dear Morehouse Guy @ 3:20, I don’t have a major dispute with your thoughtful observations, but one note struck me: “why have we accepted at face value his [Jindal’s] contentions concerning the impacts that the unemployment expenditures will have on small businesses?” At risk of noting the obvious, who do you think pays unemployment insurance? I do not claim to know Louisiana law - I’m not sure anyone does - but I am likely to yield to a judgment by the governor of the state that conforms to standard economics, absent informed dispute. You don’t read like the standard “cultist”/leftist, but perhaps the identity of the speaker means more to you than the intelligence of the thought expressed? I don’t understand why you reject the governor’s interpretation of Louisiana law without any basis.
By Chris Broe
February 24, 2009 4:17 PM | Link to this
Examine Jindal’s point: Accepting the stimulus money requires Louisiana to change it’s unemployment laws. He makes it sound like his state cant simply change the laws back again after the money runs out.
Well, Can they or cant they? Who’s the stinking liar here? Obama, Jindal, Wooten, or that fat chick over at the Woman to Woman blog?
Jklol
By @@
February 24, 2009 4:31 PM | Link to this
Now THAT sends a tingle up MY leg, Jim.
We’ve seen Obama’s “innovative” thinking — it’s just more of the same old, same old.
Here’s hoping the Republican governors can come up with something better. They’ve suffered the consequences of not having done so, but Jindal shows great promise. He and Michael Steele together can get it done.
I heard on the local news that Mayor Frankli-speaking was looking to spend the “stimulus” on some Streetcars Named Desire.
STELLAAAAAAAAAA…..R!!!!!
It’s difficult to break the bond between the abused and their abuser.
Great parallel between that movie, “A Streetcar Named Desire”, and the predicament we find ourselves in today. Like all liberals, Stella fancies herself a peacemaker between two warring factions. She passively surrenders to her abusive husband.
ewwww
More Brando when Katie Couric asks Obama what his favorite movies are. First on his list? Well here……I’ll let you read it from the horse’s mouth:
Obama — “”My favorite has to be the opening scene of the first Godfather where the caretaker comes in and Marlon Brando’s sitting there and says ‘You disrespected me….now you want a favor?’” It’s a combination of old world gentility and ritual with this savagery underneath. It’s all about family.”
….and Obama likes to portray himself as the gentility when in fact he’s the underlying savagery.
It’s all about the family, right Obama?
Please…….don’t do us any favors. The pain will be unbearable.
By N.J.
February 24, 2009 4:34 PM | Link to this
What were the Bush Tax cuts “BUT” attrocious spending bills.
The money, a total of 2.1 trillion dollars in two tax cuts a year apart, were BORROWED money.
Going back to 1961, no Republican has ever presented a balanced budget, and for every dollar added to the federal debt by a Democratic president, Republican presidents have added TWO DOLLARS AND EIGHTY THREE CENTS, to the national debt.
Republicans basically have a “borrow and spend’ mentality.
George Bush came into office borrowing money to give tax cuts in 2001 and 2002, and from 2003 to 2007 he borrowed a half trillion dollars a year, then a trillion in his last year.
Republicans have actually engaged in MORE government spending than Democrats. The Social Spending added by democrats makes up a fraction of the budget. The huge increases in defense spending, which, in which huge amounts of waste exist as well as untouchable earmarks for Red States make up 89 percent of the national debt.
Distract as you will no amount of efforts to mislead can avoid the elephant in the budgetary room and that is massive and wasteful defense spending.
The CBO has disovered HUGE amounts of waste in the Defense Department every year over the last eight.
The Defense Department orders huge amounts of materials, and almost immediately puts it up on the “Surplus” pages of its web site, selling brand new items to the public for pennies on the dollar and even throws new stuff out, simply so it can order more to fullfill red state pork obligations.
By Sean Manatee
February 24, 2009 4:44 PM | Link to this
Polls: Most support Obama’s economic plan Approval ratings high as president moves to stem recession woes. Sonny your an idiot.
By Sean Manatee
February 24, 2009 4:44 PM | Link to this
Polls: Most support Obama’s economic plan Approval ratings high as president moves to stem recession woes. Sonny your an idiot.
By Sean Manatee
February 24, 2009 4:44 PM | Link to this
Polls: Most support Obama’s economic plan Approval ratings high as president moves to stem recession woes. Sonny your an idiot.
By Sean Manatee
February 24, 2009 4:44 PM | Link to this
Polls: Most support Obama’s economic plan Approval ratings high as president moves to stem recession woes. Sonny your an idiot.
By Sean Manatee
February 24, 2009 4:44 PM | Link to this
Polls: Most support Obama’s economic plan Approval ratings high as president moves to stem recession woes. Sonny your an idiot.
By Sean Manatee
February 24, 2009 4:44 PM | Link to this
Polls: Most support Obama’s economic plan Approval ratings high as president moves to stem recession woes. Sonny your an idiot.
By Sean Manatee
February 24, 2009 4:44 PM | Link to this
Polls: Most support Obama’s economic plan Approval ratings high as president moves to stem recession woes. Sonny your an idiot.
By Sean Manatee
February 24, 2009 4:44 PM | Link to this
Polls: Most support Obama’s economic plan Approval ratings high as president moves to stem recession woes. Sonny your an idiot.
By Leon
February 24, 2009 4:58 PM | Link to this
Rag,
Come now. GLB lit the fuse on the powder keg that became Credit Default Swaps.
When the banks ran out of creditworthy borrowers, they had to turn to uncreditworthy “subprime” borrowers; and to avoid losses from default, they moved these risky mortgages off their books by bundling them into “securities” and selling them to investors. To induce investors to buy, these securities were then “insured” with credit default swaps. But the housing bubble itself was another Ponzi scheme, and eventually there were no more borrowers to be sucked in at the bottom who could afford the ever-inflating home prices. When the subprime borrowers quit paying, the investors quit buying mortgage-backed securities. The banks were then left holding their own suspect paper; and without triple-A ratings, there is little chance that buyers for this “junk” will be found.
To the tune of 45 TRILLION dollars world wide. But you knew that right?
By Morehouse Guy
February 24, 2009 5:08 PM | Link to this
In responding to you Ragnar Danneskjöld, I am well aware of who pays unemployment benefits. I am a former economist. I won’t simply “yield” to a governor’s assessment simply because he makes it.
I am quite sure that there are other policymakers in Louisiana, namely their Lt. Governor, who would beg to differ with Gov. Jindal. As I am sure you well know, “standard” or “textbook” economic models are often premised upon a host of assumptions that do not always come to bear empirically. They should provide the backdrop for our decisions, but we should always be mindful of their limitations.
Again, this is an empirical matter. Precisely how much would a change in state law burden small businesses? Precisely how would the people of Louisiana benefit from extending the unemployment benefits? How are those impacts distributed? Could the costs be passed on? Consumer or inter-business impacts? Who is most likely to suffer from either policy alternative? What are the net social benefits of the various alternatives? These are questions that any economist worth his/her salt could answer with a reasonable degree of certainty.
You’re right. I’m far from a cultist. If anything, I’m am empiricist, so I often find both parties and their policy prescriptions lacking. I have no ideological axe to grind. I’d simply want policymakers to make reasoned decisions based on what is best for their constituents, many of whom are facing dire economic straits.
I have no problems with Governor Jindal. I think he’s a wunderkind in his own right, and I look forward to a campaign between him and President Obama in 2012. The GOP is dead-on in hitching their wagon to him (or Mitch Daniels) as opposed to your Mark Sanfords or Sarah Palins.
Nevertheless, his estimates are surely not infallible. And as for my “basis”, Gov. Jindal failed to provide a sufficient basis for me to take his suggestions at face value. Why would it take so little for you to be convinced of what he says taking into consideration the very prickly empirical questions that were left unanswered? There are occasions when deference is due, but the Governor failed to sufficiently support his views empirically. I understand that it was a Sunday news show, but as I stated early, “check and verify.” And if he is correct (which he very well could be), then his recommendations should withstand the empirical scrutiny I recommend.
By just saying
February 24, 2009 5:30 PM | Link to this
Jindal would require the cooperation of 53 democrats to 49 republicans to enact law. That’s not counting 2 independents. 1 seat vacant.
By MARK
February 25, 2009 8:27 AM | Link to this
I think leaving some of the money in DC is okay as long as it doesnt hurt the people meaning that the cause ids there not just to be anti Obama and in todays political world you have to look closely to both sides.. Its the people that matters ….we do know that Sonny is very ANTI Obama so there you go who to beleive
By Algonquin J. Calhoun
February 25, 2009 8:30 AM | Link to this
The stimulus is necessary because of all the debt piled up by the Republinazi Reich. They spent and spent under George W. Hitler and now they want to be seen as fiscally responsible. If this huge amount of money were to be used for weaponry the Republinazis would be all for it. However, since it’s for the growth of the economy and the welfare of the American people they’re opposed to it. What we need is to be rid of the Republinazis for good! They’re a corrupt part of, by and for the rich only!
By Algonquin J. Calhoun
February 25, 2009 8:32 AM | Link to this
The stimulus is necessary because of all the debt piled up by the Republinazi Reich. They spent and spent under George W. Hitler and now they want to be seen as fiscally responsible. If this huge amount of money were to be used for weaponry the Republinazis would be all for it. However, since it’s for the growth of the economy and the welfare of the American people they’re opposed to it. What we need is to be rid of the Republinazis for good! They’re a corrupt party of, by and for the rich only!
By Ragnar Danneskjöld
February 25, 2009 8:46 AM | Link to this
Dear Algonquin @ 8:32, so doubling future massive spending is necessary because of past massive spending? Sounds like democrat logic to me.
By REPUBLICANS EVIL TIME IS UP
February 25, 2009 8:56 AM | Link to this
WHERE WAS ALL THESE RAT GOP REDNECKS WHEN BUSH WAS IN OFFICE WHEN THE NEO-NAZIS WERE SENDING MONEY FROM WASHINGTON TO IRAQ,TO HALLIBURTON TO WALL STREET,BUT THESE STUPID DIXIE POOR HICKS WITH NO JOBS SAYS LEAVE THE MONEY IN WASHINGTON SONNY SO WE CAN CONTINUE TO BE SLOW AND EXTRA STUPID,REMEMBER THAT GEORGIA IS 50TH IN THE UNITED STATES IN EDUCATION,AND YOU DUMB REDNECKS SAY LEAVE THE MONEY IN WASHINGTON,AND WITH ALL THE RURAL GEORGIA SCHOOLS NEEDING BOOKS AND OTHER SUPPLIES DEALING WITH THEIR SCHOOLS,BUT YOU REDNECK NEO-NAZIS WOULD RATHER STAY BROKE AND SCREAM DIXIE WHICH IS A LOSING CAUSE, CAUSE DIXIE LOST THE D@MN CIVIL WAR,HAIL LINCOLN GRANT AND MOSTLY SHERMAN FOR BURNING DOWN GEORGIA.
P.S.WHITE TRASH SUPPORT THE GOP NEO-NAZIS LIES AND PROPAGANDA,ONLY THE GEORGIA HILLBILLY WILL CONTINUE TO BE POOR DUMB AND STUPID WHEN IT COMES TO COMMON SENSE WHICH THESE HICKS DONT HAVE,IS THE REASON WHY GEORGIA IS SO BACKWARDS,REMEMBER AT LEAST THE DEMOCRAPS FROM THE ATLANTA AREA WILL TAKE THE MONEY AND USE IT WISELY.
By Dusty
February 25, 2009 9:15 AM | Link to this
How nice! Already we hear from the “Democraps”@8:56. Behold! Their finest example of superior intellect and unbiased opinion. Pelosi and Reid could not have said it better! Obama would have polished it up a bit.
Thanks a lot, BIG PRINT. You have made us conservatives feel better. We know what kind of ignorance we have to counteract. It is a bumbling ball of prehistoric logic. You’ve done it, fellow! The finest example of Democratic density on display, RIGHT HERE!!
By Algonquin J. Calhoun
February 25, 2009 9:19 AM | Link to this
Raggie, unfortunately an infusion of funds is exactly what is called for. The banks have been bailed out but they have not been lending money and that’s about to change. Regulations and safeguards, eliminated by Republinazis to expedite theft and malfeasance, are being resurrected to protect us from any more thievery. Our money, under the George W. Hitler criminal enterprise, was used to fund a needless war in Iraq, given to Halliburton and others in no-bid contracts and stolen by thieves on Wall Street. The national debt, under GWH was an atrocity perpetrated by those who now want to drag their feet and criticize Obama for acting boldly. The Republinazis are now trying to portray themselves as fiscally responsible but they aren’t and never have been! They put us in this mess and president Obama is going to get us out. Get on board, the bus is about to pull away from the station!
By Larry
February 26, 2009 11:43 AM | Link to this
To all you nay saying Republicans can you at least admit there is a problem with the economy of the U.S. and that something needs to be done. Stop saying no and give your ideas… and tax refunds is not the answer ,you know it but you want admit it.
By Larry
February 26, 2009 11:44 AM | Link to this
To all you nay saying Republicans can you at least admit there is a problem with the economy of the U.S. and that something needs to be done. Stop saying no and give your ideas… and tax refunds is not the answer ,you know it but you want admit it.
By Larry
February 26, 2009 11:44 AM | Link to this
To all you nay saying Republicans can you at least admit there is a problem with the economy of the U.S. and that something needs to be done. Stop saying no and give your ideas… and tax refunds is not the answer ,you know it but you want admit it.