State of Idaho Archives: on Budget & Economy


Butch Otter: State government should never grow as fast as our economy

I'd like to talk with you about the proper role of government in terms of the next generation--not just the next election--in order to build a more responsible, sustainable and inclusive future. We all want an Idaho where government wisely uses the people's resources to provide the public services and infrastructure needed for our citizens' safety, health and security. And as other institutions & states struggle and often fail to find fiscal balance, we all understand that our responsibilities must be met within the people's means. I hope you share my commitment to ensuring that our State government never grows as fast as our economy and the people's ability to pay for it. So with that as a starting point, I am submitting a budget recommendation today calling for a 3.1% increase in General Fund spending. That reflects slow but steady growth in our economy--an estimated 5.3% revenue increase for fiscal year 2014. It also reflects great uncertainty due to irresponsible federal leadership.
Source: Idaho 2013 State of the State Address Jan 7, 2013

Butch Otter: Great Recession shows need for building Rainy Day accounts

It is with our future in mind that my budget recommendation for fiscal 2014 builds on the great work you have already done in starting to refill our rainy day accounts. As you know, we are putting a total of almost $71 million in the Budget and Public Education stabilization funds by the end of this fiscal year. For next year I'm calling for that effort to continue as a hedge against national and global economic and fiscal uncertainty. The Great Recession showed us beyond any doubt the value of maintaining a healthy financial reserve. As much as any other factor, it set Idaho apart from most other states in response to tough times. We must exercise foresight and frugality while working to sustain and grow our economy. Building up our rainy day funds provides the kind of budget stability that Idaho taxpayers need and expect.
Source: Idaho 2013 State of the State Address Jan 7, 2013

Jim Risch: Bailout plan needs more protection for taxpayers

Risch hates the $700 billion bailout plan, saying, “It didn’t provide enough protection for taxpayers, there was not nearly enough reform in the bill to keep this from happening again, there were no provisions to really go and get after the bad guys that caused this, and lastly and to add insult to injury there were billions of dollars of pork hung onto a bill that was incredibly important to the United States of America.”

LaRocco said he would have voted for the bailout bill because it’s about small companies having the capital and credit to buy a truck or inventory, and because the final version had oversight and taxpayer protections.

LaRocco and Risch agreed that lax regulation led to the economic meltdown. Rammell said overregulation caused the economic disaster. “Fannie and Freddie were required by law to give 42% of their loans to low- and moderate- and high-risk individuals. If we truly lived in a free market economy nobody would have made these high-risk loans. Nobody.”

Source: 2008 Idaho Senate Debate reported in Boise Weekly City Desk Oct 9, 2008

Larry LaRocco: Bailout plan needed to get credit for small companies

Risch hates the $700 billion bailout plan, saying, “It didn’t provide enough protection for taxpayers, there was not nearly enough reform in the bill to keep this from happening again, there were no provisions to really go and get after the bad guys that caused this, and lastly and to add insult to injury there were billions of dollars of pork hung onto a bill that was incredibly important to the United States of America.”

LaRocco said he would have voted for the bailout bill because it’s about small companies having the capital and credit to buy a truck or inventory, and because the final version had oversight and taxpayer protections.

LaRocco and Risch agreed that lax regulation led to the economic meltdown. Rammell said overregulation caused the economic disaster. “Fannie and Freddie were required by law to give 42% of their loans to low- and moderate- and high-risk individuals. If we truly lived in a free market economy nobody would have made these high-risk loans. Nobody.”

Source: 2008 Idaho Senate Debate reported in Boise Weekly City Desk Oct 9, 2008

Rex Rammell: Over-regulation caused the economic disaster

Risch hates the $700 billion bailout plan, saying, “It didn’t provide enough protection for taxpayers, there was not nearly enough reform in the bill to keep this from happening again, there were no provisions to really go and get after the bad guys.”

LaRocco said he would have voted for the bailout bill because it’s about small companies having the capital and credit to buy a truck or inventory, and because the final version had oversight and taxpayer protections.

LaRocco and Risch agreed that lax regulation led to the economic meltdown. Rammell said overregulation caused the economic disaster. “Did you know that Fannie and Freddie were required by law to give 42% of their loans to low- and moderate- and high-risk individuals.... All I hear now is we need more regulations that’s exactly the opposite of what we need. If we truly lived in a free market economy nobody would have made these high-risk loans. Nobody. The banks wouldn’t have done it and the people wouldn’t have dared do it.”

Source: 2008 Idaho Senate Debate reported in Boise Weekly City Desk Oct 9, 2008

  • The above quotations are from State of Idaho Politicians: Archives.
  • Click here for definitions & background information on Budget & Economy.
  • Click here for other issues (main summary page).
2012 Presidential contenders on Budget & Economy:
  Democrats:
Pres.Barack Obama(IL)
V.P.Joe Biden(DE)

Republicans:
Gov.Mitt Romney(MA)
Rep.Paul Ryan(WI)
Third Parties:
Green: Dr.Jill Stein(MA)
Libertarian: Gov.Gary Johnson(NM)
Justice: Mayor Rocky Anderson(UT)
Constitution: Rep.Virgil Goode(VA)
Peace+Freedom: Roseanne Barr(HI)
Reform Party: André Barnett(NY)
AmericansElect: Gov.Buddy Roemer(LA)
Please consider a donation to OnTheIssues.org!
Click for details -- or send donations to:
1770 Mass Ave. #630, Cambridge MA 02140
E-mail: submit@OnTheIssues.org
(We rely on your support!)

Page last updated: Dec 16, 2013