Top of the Morning

Top of the morning

AP reports that the North Carolina Chamber of Commerce is worried that cuts in federal spending on transportation, schools, and health care will cost the state 34,000 jobs. 

Funny that the chamber folks didn’t have anything bad to say about a state budget that made huge cuts in spending on transportation, schools, and health care. In fact, they supported it.

Apparently public investments are bad one day and good the next. Government spends too much and it spends too little.  It cannot create jobs but it can create jobs. Got that?

10 Comments

  1. Nonanon

    July 11, 2012 at 8:38 am

    Chris, at least state budgets have to balance. Any deficiencies you find with the state process, and as bad as both you and I know things are in the executive branch, in fact, could it get much worse?

    As bad as both you and I know it to be, the federal government is by far and away exponentially in worse shape, because they don’t have a balanced budget requirement.

    The ramifications of this are only know beginning to unfold in Europe.

    Surely, you must see the folly in continued deficit spending, unless you’re blind, which this latest post seems to indicate.

    Can’t have it both ways? Right back at you, mon frere.

  2. david esmay

    July 11, 2012 at 9:00 am

    @nonanon, deficit spending is the cornerstone of the regressive Republican party. Unlike states, the federal government operates by a different set of accounting rules, that’s what Reagan and Bush II used to hide their massive increases in debt and deficits.

  3. HunterC

    July 11, 2012 at 9:38 am

    Relatively small state spending can draw down greater portions of federal money — Medicaid and HAVA are the most widely reported from the recent NC legislative session that come to my mind.

    In this respect, it would seem the NC Chamber strangely missed the chance to urge the NC General Assembly draw down those currently available federal dollars.

  4. Jack

    July 11, 2012 at 3:52 pm

    If I remember correctly President Bill Clinton left the White House having balanced the U.S. budget with some surplus.

    As soon as President Bush occupied the White House he distributed the surplus and told the people the money was theirs and not the governments therefore, ushering in another eight years deficit spending.

  5. Frank Burns

    July 11, 2012 at 4:50 pm

    Jack,
    Do you also recall that there was a Republican controlled congress that deserved credit for balancing the budget? Clinton was reduced to playing small ball.

  6. jlp75

    July 11, 2012 at 4:55 pm

    Do you also recall how the Republican congress and the Republican President turned around and pissed that surplus away and assured us that “deficits don’t matter”? There is plenty of blame to go around for our current state of affairs. Those that believe the Republicans are the white knights riding in to save the us all are either partisan hacks or idiots. Which are you Frank?

  7. Frank Burns

    July 12, 2012 at 7:12 am

    jlp,
    Allow me to correct your recall. The Republican president had a Democratic controlled congress. You see jlp, Democrats are spenders. That is a fact not a partisan statement.

  8. jlp75

    July 12, 2012 at 7:42 am

    Let me correct your recall. The Republican President had a Republican Congress for the first 6 of the 8 years of his 2 terms. You see Republicans are big spenders who care less about how to pay for it. You see they are ALL spenders it just varies what they choose to spend on. At least one party tries to pay for their spending for better or worse.

  9. jlp75

    July 12, 2012 at 7:43 am

    Furthermore the Republican President had VETO power as well. Apparently if the Democrats were spending it didn’t bother him that much. The buck stops with him.

  10. Jeff S

    July 12, 2012 at 11:39 am

    Most of the individuals I hear arguing over monetary policy are doing nothing more than parroting what they believe to be the party line. Very few of them have any inkling of an understanding as to what caused the financial meltdown, or the efforts that went into mitigating it.

    Stop getting sidetracked on other people’s rationalizations. Monetary policy, as presented by a Ryan, or Bachmann, or your talk radio personality of choice, is irrelevant and nothing more than the reason that focus group X found to be most believable.