Gov Mark Sanford: "Don't bail out my state"

[phk]

Don't Bail Out My State
South Carolina's governor says more debt isn't the answer.

I find myself in a lonely position. While many states and local governments are lining up for a bailout from Congress, I went to Washington recently to oppose such bailouts. I may be the only governor to do so.

But I suspect I'm not entirely alone, as there are a lot of taxpayers who aren't pleased with Christmas coming early for politicians. And I hope these taxpayers make their voices heard before Democrats load up the next bailout train for states with budget deficits.

Several questions led me to oppose bailing out the states. They are worth asking, even if you supported bailing out Wall Street.

Who bails out the "bail-outor"?

Washington is short on cash these days and will borrow every dime of the $150 billion to $300 billion for the "stimulus" bill now being worked on. Federal appetites may know no bounds. But the federal government's ability to borrow is not limitless. Already, our nation's unfunded liabilities total $52 trillion -- about $450,000 per household. There's something very strange about issuing debt to solve a problem caused by too much debt.

Do you now have to be a financial "bad boy" to win?

Community bankers tell me that they are now at a competitive disadvantage for being careful about who to lend to, because others that were less disciplined will get a federal bailout. This is also true for states. Those that have been fiscally responsible will pay for or lose out to the big spenders. California increased spending 95% over the past 10 years (federal spending went up 71% over the same period). To bail out California now seems unfair to fiscally prudent states.

Was the economist Herb Stein wrong when he said that if something cannot go on forever, it won't?

Medicaid grew 9.5% annually over the past 10 years. That's unsustainable. But if Congress opens the checkbook now, there will be no reform.
Isn't government intervention supposed to be the last resort and come only when it can make a difference?

In 2008 bailouts became the first resort. Over the past year the federal government has committed itself to $2.3 trillion (including the tax rebate "stimulus" checks of last February) to "improve" the economy. I don't see how another $150 billion now will make a difference in a global slowdown. We've already unloaded truckloads of sugar in a vain attempt to sweeten a lake. Tossing in a Twinkie will not make the difference.

However, there is something Congress can do: free states from federal mandates. South Carolina will spend about $425 million next year meeting federal unfunded mandates. The increase in the minimum wage alone will cost the state $2.6 million and meeting Homeland Security's REAL ID requirements will cost $8.9 million.

Based on what I saw in Washington, the bailout train is being loaded up. Taxpayers will have to speak up now to change its freight, tab or departure.

Mr. Sanford, a Republican, is the governor of South Carolina.

[Daniel Adams]

Mark Sanford: FF.

[MODU]

Congress won't read this.

[??????????]

Congress won't read this.

Yep, this government is completely out of control.

[Daniel Adams]

I find it extremely disappointing that Sanford is the only conservative governor that has stood up against the bailout. Crist is being wishy-washy, explaining that since we are in "unusual times", apparently any sort of government intervention has suddenly become acceptable. Huntsman and Jindal have kept mum about the situation, although Palin has offered some limited criticism. How is the Republican Party ever going to recover if so few of its elected members dare to stand up for conservative principles?

[Queen Mum Inks.LWC]

Huge FF.

[Bacon King]

Sanford is awesome.

[AkSaber]

Congress won't read this.

Yep, this government is completely out of control.

Hell, our federal government's only concern these days is to protect the rich at the expense of everyone else.

Something the Governor said really struck a chord with me. Banks who were irresponsible with their businesses are now being rewarded for it. Isn't that just like our government? They reward bad behavior while making the responsible pay for it. Do these schmucks honestly believe this will encourage good behavior? What the hell?

We need to go back to the principals that made us the wealthiest nation in history. Capitalism didn't get us into this mess. Socialist practices did that for us. I don't understand why there isn't a big movement to get us back to where we were. It's like the only way we know how to solve problems is to throw as much money at them and create mountains of debt.

[The Populist]

Sanford is awesome.

Agreed.  I have some family in South Carolina, fairly liberal Democrats, and they love the guy.

[Lunar]

Sanford is a FF for one reason and one only:  more money for CA's economy.

[Fmr. Pres. Duke]

Sanford is my boy and my governor.

[Ronnie]

Sanford is my boy and my governor.

It's funny how much peoples' political opinions could change in a couple months.  That happened with me as well on this issue.

[MK]

You hardcore republicans are screwing yourselves from ever winning another election with this sit back and do nothing attitude.

Boy if only you guys were more like this when dubba wanted to invade Iraq.

Sanford trying to appease the wacky defeated base of republicans is silly.

[Fmr. Pres. Duke]

Sanford is my boy and my governor.

It's funny how much peoples' political opinions could change in a couple months.  That happened with me as well on this issue.

Well, I was for the financial bailout because I didn't want to see the nation's financial system collapse. I am not, however, for the bailout of industries like the auto makers and American Express and every state. There has to be a point where we say enough is enough.

You hardcore republicans are screwing yourselves from ever winning another election with this sit back and do nothing attitude.

Boy if only you guys were more like this when dubba wanted to invade Iraq.

Sanford trying to appease the wacky defeated base of republicans is silly.

Excuse me? The GOP went along with the bailout and it probably hurt us more than it helped. The American people are not fond of bailing out everyone like this, so the GOP isn't hurting themselves. By providing an alternative, it will help us in the long run.

We can't bailout every industry, especially if they don't have a plan on how to use the funds. It's not like the current bailout has helped us that much in hindsight.

And the wacky defeated base of the GOP is the big spenders, not the ones who wanted to curb spending. That's the main reason why we are out of power now.

[MK]

Sanford is my boy and my governor.

It's funny how much peoples' political opinions could change in a couple months.  That happened with me as well on this issue.

Well, I was for the financial bailout because I didn't want to see the nation's financial system collapse. I am not, however, for the bailout of industries like the auto makers and American Express and every state. There has to be a point where we say enough is enough.

You hardcore republicans are screwing yourselves from ever winning another election with this sit back and do nothing attitude.

Boy if only you guys were more like this when dubba wanted to invade Iraq.

Sanford trying to appease the wacky defeated base of republicans is silly.

Excuse me? The GOP went along with the bailout and it probably hurt us more than it helped. The American people are not fond of bailing out everyone like this, so the GOP isn't hurting themselves. By providing an alternative, it will help us in the long run.

We can't bailout every industry, especially if they don't have a plan on how to use the funds. It's not like the current bailout has helped us that much in hindsight.

And the wacky defeated base of the GOP is the big spenders, not the ones who wanted to curb spending. That's the main reason why we are out of power now.

Let these 3 fall and you will kill the economy, but then again that would suit you guys well since President Obama would then be in charge of such a mess.

Nobody is thinking about the workers losing their jobs , but instead thinking about some damn ideological long held views. 

[jamestroll]

lol libertarians.

I have the audacity of hope that Obama spends like Bush does.