Wednesday, December 3, 2008

Be Still My Beating Heart

Governor Tim Pawlenty- talk conservative to me! "The federal government is broke, they have no money, it's monopoly money". "We need to cut spending." These were Pawlenty's comments after Obama's meeting with the nation's Governors this week. Governors across the country (including Republicans) have their hands out for federal money in order to offset their own lack of fiscal responsibility at home.

I hope Pawlenty means what he says, I worry about grandstanding and then backing down when the political pressure gets too high. But, if he wants to set out to lead the party- this is a good way to start. Republican Governors asking for federal bailouts should be sent right back to their state capitols without one thin dime- all they need is one red pen.

The Star Trib article today of course has the spin starting already with Minnesota Democrats lamenting the idea that Pawlenty wouldn't take money from the federal government. (These are the same Democrats who want a balanced budget- right?)

Then there's Obama- who said this at the Governor's meeting:

"We're going to need action, and we're going to need action swiftly," he told the governors.
In an effort to win bipartisan support, he appealed to Republicans: "We're not going to be hampered by ideology in trying to get this country back on track."

Hampered by ideology? And whose ideology is that? Now's the time to take a stand.


Goose said...

Good for Tim, as you say, I hope he follows through on the tough talk. He looked decently rested, he must be a morning person. When I have been at functions where he has spoken at night he looks worn out.

Andrea Mitchell, what a drip...

liz said...

Why would anyone think government could solve their problems (and why would you want them to - their track record is so not impressive)? Go back to your state and figure it out and whip out the red pen. You're right on Sheila!

I, for one, am sick of everyone raising their hand to PEBO asking for a hand out while the rest of us "do the right thing" and get punished for it. Good job paying your mortgage - now we want you to pay for everyone else's! Good job saving for retirement - now we're going to ask for more money from you as you watch your savings go down the drain!

I was sickened to see my father, who has saved for years, worked hard, paid for his hous - do "all the right things" - only to lose millions - yes millions - in the stock market because of irresponsible government. And I know so many other stories just like his. Why isn't their more outrage? And now Pelosi has the nerve to ask for $500 billion more? She has the lowest approval rating ever! Does she have that big of an ego? And Barney Frank - how the heck he got reelected is beyone me. Talk about ignorant voters.

Check out I love it.

Jim said...

A guy I've seen around the news who's great on this "don't bail me out" issue is South Carolina Governor Mark Sanford.

Yes, good for Tim. I agree with pretty much everything he said. I'd also love to see a Federal Balanced Budget Amendment (and spending cuts, not tax increases to do the balancing).

The Federal Government has been broke and had nothing more than monopoly money for decades. Spending cuts should always be an issue, not just when the problem gets so large as it has now. Just think how much easier it would have been to solve these budget problems if people had been paying attention years ago and not kept kicking the can down the road with more deficit spending.

On a side note, Andrea Mitchell is married to Alan Greenspan, so of course she knows that the costs of bailouts aren't just more debt to China or our children as Tim was saying, but also inflation and dollar devaluation as she pointed out (har har, Alan's good at inflation and serial bubble blowing, and now Bernanke is trying to catch up to "the Maestro" on that front). Yes, there's deflation now due to the credit market, but the monetary creation going on right now to try to re-prop up the deflating credit bubble is unheard-of in the history of the Fed. For the near-term, deflation will continue as unemployment goes up and things continue to fall apart, but in the longer-term, that inflation will come back in a big way unless they change something.