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Governor today urging lawmakers not to throw more taxpayer money at this ailing economy Republican Mark Sanford -- -- of the house Ways and Means Committee.
He says that the proposed 150 billion dollars second stimulus now will drive the country even deeper into debt with questionable results with me now.
The South Carolina governor himself Mark -- governor did -- Pleasure thank you I'm your biggest concern is what that they're just.
Going crazy on the stuff away.
I guess for a couple big concern one is down.
-- thing is if you know hole -- -- -- that is if you wanna get out and we got an incredible hole at the federal level.
About 52 trillion dollars of accumulated.
Liabilities in the words -- promises made but not funded.
And so whether to have Social Security Medicare you and the list we have an incredibly long list of promises.
And month -- point as you gotta pay for the promises that are already on the table before you make new and additional ones.
And I think with -- tipping point lot of Smart people are saying we -- at a critical point in terms of dollar devaluation of the things.
If we keep going down the path we are on with regard to deficit and we're -- as much as a trillion dollars deficit this year.
And by the way to go that way because I think governor but I just wanted to clear that it's a -- and dollar deficit and maybe more as each year as we go out here.
Even if John McCain wins isn't it fair to say taxes are gonna go -- that that invariably watching can't cut spending we can't tolerate.
He's -- deficits much longer.
-- taxes will go.
Yes I'm gonna give -- the taxes go up or are spending -- or program to reform that was talking to -- with American Enterprise Institute last night.
And he was making the point that you've got to look at some interest in third -- the box because.
Cut in benefits or raising taxes both have a whole lot of difficulty in a lot of obstacles politically.
What if you came would would -- -- possibilities were and somebody could say.
I tell you what if you want to go a different route you can leave the money got in the system and walk away.
But -- leave what you got in there and I think that there's probably some creative thinking to be done with regard to the notion of entitlement reform would be my only point.
I think the second big thing -- the concern me.
With -- -- to another 150 billion dollars as we've already put two and a half trillion dollars of stimulus into the economy this year.
In the idea that a 150 is gonna make the difference I think is -- -- the size and scope of the problem.
If you've got a a a a global economy with about 67 trillion dollars and side you've got a national economy.
It's about fourteen trillion dollars in -- and you were saying another hundred -- gonna make it 150 billion that is gonna make a difference on this thing.
I don't think so particularly in light of the fact we -- put two and half trillion dollars and the last point that I made was simply this.
You gotta look at this -- issue more -- hazard.
And the ramifications.
Going forward because if not we may get ourselves that a little bit little blip appeared to have only -- much bigger blip down the road.
And and the problem is states remarkably.
Have spent an even greater levels and the federal government over the last ten years.
And the idea of the federal government going in borrowing money from the Chinese borrowing money from Social Security borrowing money from Medicare.
To then go and and bail -- states that have spent more aggressively than even the federal government.
To me is something that makes him on -- And then you hear you got -- debt problem here right but you're one of the few voices -- we and then getting your problem Marty got a good governor and that's why a lot of folks say.
Your party itself is a big reason why -- -- signing on to these rescues -- -- rescues.
It's kinda lost its soul it's kinda lost what made its DNA.
And it its crews of four big -- and because of that when he died.
I would agree with that and I think we'll probably see that -- electoral sense.
Come Tuesday I mean the handwriting seems to be on the wall.
With regard to the house and senate -- I don't know how many will be lost but it sounds like some.
Will be lost on both sides of of of that -- and house and senate.
And I think it's a lot of self inflicted injury I think that if party is nothing more than then in business terms of brand.
And there's been tremendous brand degradation.
Over the last couple years based on Republicans not walking the walk with regard to really -- -- -- -- idea of limited government and less taxes and and -- enlistment.
Very true governor very wise words it was reported it was everyone with publicity frankly.
Governor Sanford appreciate it.
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