State of New Hampshire Archives: on Budget & Economy


Derek Dextraze: Market-led recovery better than stimulus

Q: Do you support or oppose the statement, "Stimulus better than market-led recovery?"

A: Strongly Oppose

Source: Email interview: 2016 N.H. gubernatorial race by OnTheIssues Mar 14, 2016

Bernie Sanders: The greed of the billionaire class is destroying our economy

We've got to deal with the elephant in the room, which is the greed, recklessness and illegal behavior on Wall Street. When you have six financial institutions in this country that issue 2/3 of the credit cards and 1/3 of the mortgages, when 3 out of 4 of them are larger today than when we bailed them out because they are too big to fail, we've got to re- establish Glass-Steagall, we have got to break the large financial institutions up.

I don't have a super PAC. I don't want campaign contributions from corporate America.

And let me be clear: While there are some great corporations creating jobs and trying to do the right thing, in my view--and I say this very seriously--the greed of the billionaire class, the greed of Wall Street is destroying this economy and is destroying the lives of millions of Americans. We need an economy that works for the middle class, not just a handful of billionaires, and I will fight and lead to make that happen.

Source: 2015 ABC/WMUR Democratic primary debate in N.H. Dec 19, 2015

Martin O`Malley: Fix is neither socialism nor crony capitalism

Q: How important a role should corporate America play in a healthy economy?

CLINTON: I want to be the president for the striving AND the successful. But I want to make sure the wealthy pay their fair share,

SANDERS: The greed of Wall Street is destroying this economy. We have got to break the large financial institutions up.

O'MALLEY: I look at our economy as an ecosystem. And the fact of the matter is that the more fully people participate, the more our workers earn, the more they will spend, the more our economy will grow. And most heads of businesses--large, medium and small--understand that. But there is a better way forward than either of those offered by my two opponents here on this stage. We're not going to fix what ails our economy, we're not going to make wages go up for everyone by either trying to replace American capitalism with socialism, nor will we fix it by submitting to sort of Wall Street-directed crony capitalism.

Source: 2015 ABC/WMUR Democratic primary debate in N.H. Dec 19, 2015

Jon Lavoie: Stimulus is taking tax money and redistributing it

Q: Do you support or oppose the statement, "Stimulus better than market-led recovery"?

A: No. Stimulus is taking tax money and redistributing it. People will spend their own money if they get to keep more of it. Real jobs will result. Real markets induce progression and advancements.

Source: Email interview for 2016 N.H. Governor race with OnTheIssues Oct 18, 2015

Hillary Clinton: Democrats would have paid off national debt in 2000s

There's just a pattern here [on deficit spending and the national debt], where the other side continues to use the same old tired policies. They don't work and then Democrat presidents have to come in and fix what was broken. I have this old-fashioned idea that you ought to look at the evidence. And if you look at the evidence at the end of Bill Clinton's two terms, we had the longest peace-time expansion in American history, with 22 million new jobs, a balanced budget and a surplus that would have paid off our national debt had they not been so rudely interrupted by the next administration.
Source: Remarks at Dartmouth College in Hanover, N.H. Jul 3, 2015

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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