Click here to check the ultimate guide to learn how to leverage your PC and internet to make money online.
The Washington Independent
The Washington Independent

‘Cut the Spending, Cut the Taxes’

A revealing moment from Robert Draper’s entertaining writeup of the GOP gubernatorial primary in Texas comes when Gov. Rick Perry (R-Texas) makes an offhand

Liam Evans
News
Last updated: Jul 31, 2020 | Dec 03, 2009

A revealing moment from Robert Draper’s entertaining writeup of the GOP gubernatorial primary in Texas comes when Gov. Rick Perry (R-Texas) makes an offhand attack on TARP.

“What would have been your remedy, then?” I asked.

He shrugged. “What was our remedy then is still the remedy,” he said. “Cut the spending, cut the taxes.”

Perry didn’t make clear how a little ad hoc belt-tightening on the part of Congress would have allayed a collapse of the financial markets. He seemed, instead, skeptical that such a collapse had been imminent. At his San Antonio event, I watched him mockingly recall “the cries that ‘the sky is falling, the sky is falling — you have to do something, and if you don’t do something, the markets are going to crash and the economic world as we know it is going to vaporize into thin air.’ ” Most economists might take issue with the governor’s sentiment.

Perry’s alternative history of TARP is, no surprise, a huge winner among Republicans. This week’s Washington Post poll found a whopping 86 percent of Republicans opposed to bailouts, retrospectively and today. But back in 2008, “cutting taxes and spending” was seen as a deeply unserious response to the crisis.

Liam Evans | Liam Evans is a freelance writer and social media manager who specializes in assisting finance professionals and Fintech entrepreneurs in growing their online audience and attracting more paying customers. Liam worked as a bank teller and virtual assistant for financial firms in the United States and the United Kingdom for six years before beginning her writing career.

Related

$1.3 Million for Brown

The GOP’s candidate in the Massachusetts special election raised more than one million dollars -- double the goal -- in a 24-hour moneybomb on the Ron Paul

$1.89 billion given to states to fight HIV

The federal government Monday announced more than $1.89 billion in funding to states to fight the HIV epidemic with access to care and with more cash for the failing AIDS Drug Assistance Program. According to an HHS press release , $813 million of that money will go directly to the ADAP programming. An additional $8,386,340 will be issued as a supplement to 36 states and territories currently facing a litany of unmet needs and access issues.

1. Brian Schweitzer

As governor of Montana, Schweitzer doesn’t represent one of the most highly populated, high-profile electoral states in the country. But this

#1 in Conspiracy Theories

Andrew Young’s tell-all biography of John Edwards, hitting shelves next week, is surging in one Amazon.com category in particular. #1 in Conspiracy

$1.3 trillion in federal spending unaccounted for, report finds

Despite calls for independent bodies to keep government accountable, the Sunlight Foundation’s most recent Clearspending report has found the federal

1 Brigade and 1 Battalion

ISTANBUL – It’s 10 p.m. in the lowest level of the Istanbul airport. In 20 minutes I’ll be allowed to board my plane to Kabul, bringing me to the

Ten Loopholes That Can’t Make It Into FinReg

Dan Pfeiffer, the White House communications director, wrote a blog post that lists the loopholes lobbyists most want inserted into Sen. Chris Dodd’s (D-Conn.)

$1 Million for Toomey

Pat Toomey, the former Club for Growth president and leading Republican candidate in Pennsylvania’s 2010 Senate race, has announced a $1 million haul in the

1. Lindsey Graham

Sen. Graham (R-S.C.) is typically regarded as a reliable vote for his party, but he took the bold step of breaking with his fellow Republicans to join Kerry

Bachmann uncomfortable over earmarks ban

Republicans appear to have boxed themselves into a corner with their portrayal of earmarks as wasteful spending, as many of them have backed a moratorium on

Troubled mine holds hope for U.S. rare earth industry

China currently controls 97 percent of the world’s rare earth production. The Mountain Pass Mine could change that -- if it can overcome serious environmental concerns.

© Copyright 2022 The Washington Independent All Rights Reserved

Terms & Privacy | twi.news@washingtonindependent.com

Click here to check the ultimate guide to learn how to leverage your PC and internet to make money online.