State of New Hampshire Archives: on Budget & Economy


Maggie Hassan: Balanced budget with no income tax nor sales tax

Today I present to you a balanced budget--with no income or sales tax--that is fiscally responsible and focused on innovation, economic growth, and creating good jobs to support a strong middle class. A budget that begins rebuilding, based on the priorities that are critical for an innovative future: ensuring that all of our people can receive an education and develop skills for good jobs, attracting and growing cutting-edge businesses, and sustaining our high quality of life by keeping our communities and people safe and healthy.

But it is also a budget that recognizes that we cannot address all of our challenges all at once in these uncertain economic times. We must still make difficult choices to protect our priorities while living within our means.

In preparing this budget, we cut agency budget requests by more than $500 million, keeping general fund spending 7% below fiscal year 2008 for fiscal year 2014.

Source: 2013 State of the State N.H. Budget Address Feb 14, 2013

Paul Hodes: Stimulus bill was needed to stabilize economic free fall

As for the controversial stimulus spending that supporters argue kept a recession from becoming a depression, Ayotte believes the government's role should be one of support through pro-growth policies and lower taxes. "It's not the government that's going to create jobs in this country, it's our small businesses. It's the private sector," said Ayotte. "Many of the so-called jobs that were created under the stimulus were essentially temporary jobs, government jobs, not private sector growth."

Hodes defended the spending and argued the stimulus funds created needed jobs for teachers, fire fighters and police officers. "It was certainly necessary to stabilize our economy that was in absolute free fall," said Hodes. "At the time the recovery act was passed we'd lost almost 4 million jobs, the financial markets were locked, the economy was in a free fall."

Source: Fox News coverage of 2010 N.H. Senate debate Sep 23, 2010

Paul Hodes: $800B stimulus was an emergency investment

Hodes defended his 2009 vote for the $800 billion stimulus package. "Nobody wanted to make those investments, but they had to be done; it was an emergency situation," Hodes said.

Ayotte said the stimulus only created "temporary or government" jobs and more taxpayer-paid spending hurt the economy as national unemployment increased by 2.5 million jobs. "It was a big government program, but it didn't allow the growth in the private sector," Ayotte said.

During the four years Hodes was in Congress, Ayotte said the federal deficit went up 525%, the debt increased $5 trillion to $13 trillion and Hodes voted for 9,000 earmarks last year. "Congressman Hodes is wanting to portray himself as a fiscal conservative," Ayotte said.

In this campaign, both candidates call for a ban on earmarks. Ayotte said Hodes had an election year conversion on earmarks. Hodes noted Ayotte earlier in this campaign had defended earmarks as long as they were transparent until after Hodes had endorsed the ban.

Source: Nashua Telegraph coverage of 2010 N.H. Senate debate Sep 23, 2010

Jeanne Shaheen: Bush-Sununu self-regulation policy led to financial meltdown

Shaheen said the financial meltdown is a “function of the Bush-Sununu policy.” The Democrat blamed Bush & Sununu for failing to provide oversight of Wall Street, letting financial institutions self-regulate, & for ignoring predatory lending practices.

“Where has John Sununu been on those issues? He’s been in Washington for 12 years--5 years on the Banking Committee,” she said. “He’s been missing in action when it came to cracking down on those practices that led us to the crisis that we’re in today.” In response, Sununu’s campaign maintained Shaheen is the “last person N.H. needs in an economic crisis” because her “first inclination” is to raise taxes. Shaheen seems to anticipate the tax-and-spend criticism. She said she balanced three budgets when she was governor and when revenues were lagging, she cut spending.

Sununu has been promoting three priorities: protecting taxpayers’ interests, implementing strong oversight of regulatory markets and promoting policies that encourage long-term growth.

Source: 2008 N.H. Senate Debate on Fosters.com Sep 20, 2008

John Sununu: Raising taxes is last thing needed during financial meltdown

Shaheen said the financial meltdown is a “function of the Bush-Sununu policy.” The Democrat blamed Bush & Sununu for failing to provide oversight of Wall Street, letting financial institutions self-regulate, & for ignoring predatory lending practices.

“Where has John Sununu been on those issues? He’s been in Washington for 12 years--5 years on the Banking Committee,” she said. “He’s been missing in action when it came to cracking down on those practices that led us to the crisis that we’re in today.” In response, Sununu’s campaign maintained Shaheen is the “last person N.H. needs in an economic crisis” because her “first inclination” is to raise taxes. Shaheen seems to anticipate the tax-and-spend criticism. She said she balanced three budgets when she was governor and when revenues were lagging, she cut spending.

Sununu has been promoting three priorities: protecting taxpayers’ interests, implementing strong oversight of regulatory markets and promoting policies that encourage long-term growth.

Source: 2008 N.H. Senate Debate on Fosters.com Sep 20, 2008

Jeanne Shaheen: Lack of oversight caused financial crisis; regulation needed

Sununu worked aggressively to carve out a pro-taxpayer position and cited his previous calls for stepped-up regulation of a key mortgage player.

Jeanne Shaheen countered that “the lack of oversight and the lack of accountability that George Bush and his allies like John Sununu in the Senate supported have really brought us to where we are today.” She pushed for tighter regulations and liquidity-disclosure requirements as well as a consolidated oversight system.

Sununu parried back aggressively, telling how he had long sought to beef up regulation for Fannie Mae and Freddie Mac, the ailing public-private mortgage finance companies seized by the government this month. “That’s an issue where I’ve led the effort not just in the past year, but going back five years,” Sununu said. He also said taxpayers should be kept off the hook for Wall Street’s failures.

Source: 2008 N.H. Senate debate reported in Concord Monitor Sep 19, 2008

John Sununu: Sought more financial regulation; keep taxpayers off hook

Sununu worked aggressively to carve out a pro-taxpayer position and cited his previous calls for stepped-up regulation of a key mortgage player.

Jeanne Shaheen countered that “the lack of oversight and the lack of accountability that George Bush and his allies like John Sununu in the Senate supported have really brought us to where we are today.” She pushed for tighter regulations and liquidity-disclosure requirements as well as a consolidated oversight system.

Sununu parried back aggressively, telling how he had long sought to beef up regulation for Fannie Mae and Freddie Mac, the ailing public-private mortgage finance companies seized by the government this month. “That’s an issue where I’ve led the effort not just in the past year, but going back five years,” Sununu said. He also said taxpayers should be kept off the hook for Wall Street’s failures.

Source: 2008 N.H. Senate debate reported in Concord Monitor Sep 19, 2008

John Sununu: Difficult to say that fundamentals of our economy are strong

The N.H. Democratic Party worked to tie Sununu to former senator Phil Gramm, the former McCain adviser & champion of free markets who Sununu once named as a role model. A party press release was titled: “Sununu Opposed Wall Street Oversight.”

But the parallels aren’t exact. For one, Sununu declined to agree with a McCain line that generated flack earlier this week, proclaiming that the “fundamentals of our economy are strong.” Asked during the conference call, Sununu replied: “I think it’s very difficult to make a statement about the fundamentals,“ he said, citing the pace of change.

To make their case against Sununu, Democrats point to Sununu’s vote as a congressman for the Financial Services Modernization Act of 1999. That bill, co-sponsored by Gramm, removed New Deal-era restrictions on mergers between financial institutions. Democrats have circulated a news story saying the law ”helped pave the way for AIG and Lehman Brothers to become behemoths laden with bad loans.“

Source: 2008 N.H. Senate debate reported in Concord Monitor Sep 19, 2008

John Lynch: I erased a major budget deficit without new taxes

I worked with both parties in the legislature to erase a major budget deficit, without new taxes, while still investing in what’s important - education, health care and job creation. I will continue to bring that same fiscally responsible approach to state government, looking at all our priorities as a state and making sure we are meeting them as efficiently as possible. That includes continuing to strengthen our commitment to education, preserving open space, and protecting public health and safety.
Source: 2006 N.H. Gubernatorial National Political Awareness Test Nov 7, 2006

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