Back Channels: Beware of borrowing to solve a debt problem
Perhaps Mark Sanford - South Carolina's representative to Tuesday's meeting of the National Governors Association with President-elect Barack Obama - will have better luck.
Sanford was in Congress Hall to discuss an economic-stimulus package that could cost $700 billion or more. Many of his fellow governors wanted to green-light a plan they hope would create jobs, rebuild infrastructure, and ease the increasing costs of unemployment benefits and other social services. But Sanford was urging caution.
The governor has no problem with improving infrastructure or helping citizens in tough times. But he does take issue with the government's spending more than it takes in. And that's the common element among the bailout proposals: They all would use borrowed money.
"You don't solve a problem created by too much debt with more debt," Sanford said in an interview Monday.
Brilliant analysis from the author, as usual.
What was that saying..."two wrongs do not make a right". How about the Governors get back to their respective states and build jobs, become fiscally responsible and fix their own damn roads. The governors can take a cue from Alaska's Sarah Palin on how to actually achieve those goals.
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