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Angus King on Budget & Economy

Independent Former ME Governor


Taming the deficit without revenue increases isn't realistic

[As governor, King] accepted a $102 million loan guarantee financed by a federal stimulus program to pay for a wind-power project He would have voted for the stimulus and has no qualms about benefiting from it. And after a long conversation with Erskine Bowles, Pres. Clinton's chief of staff, he said he was "dating"--but not marrying--the deficit-reduction plan put forward by Bowles and former GOP Senator Alan Simpson. Taming the deficit without revenue increases "isn't realistic," he said.
Source: New York Times, "Senate Control Could Hinge on Angus" , May 6, 2012

How are deficits suddenly cause for mass demonstrations?

Federal deficits have been with us for 50 years, through Democratic and Republican administrations; in fact, the only balanced budgets in living memory were at the end of the Clinton administration. So it's hard to understand how deficits are suddenly cause for mass demonstrations. And is a mandate to buy health insurance or cap carbon emissions really enough to justify talk of secession and "Second Amendment remedies"? No, something else is going on here whose outlines are not yet clear.
Source: Governor`s Travels, by Gov. Angus King, p. 48 , Aug 16, 2011

Regional transportation network to foster trade & economy.

King signed the New England Governors' Conference resolution:

Source: NEG/ECP Resolution 25-2: Transportation Corridors 00-NEGC2 on Jul 18, 2000

Bankruptcy reform: limit Chapter 7; protect states' role.

King adopted the National Governors Association policy:

    The Governors are particularly concerned that bankruptcy reform legislation address the following issues:
  1. Prevent Chapter 7 Use by Those with the Ability to Pay: Present bankruptcy law does not prevent use of Chapter 7 by those with ability to repay, nor does it require that debtors use Chapter 13, which would require them to repay creditors what the debtor can afford. The Governors strongly support federal efforts to prevent debtors from using Chapter 7 when they are financially able to pay some or all of their unsecured debts.
  2. Encourage Payment of Domestic Support Obligations: Bankruptcy interferes significantly with states’ ability to assist citizens owed domestic support and to collect unpaid domestic support owed them. The Governors strongly encourage Congress to ensure that any federal bankruptcy reform requires that domestic support obligations have the highest possible repayment priority, that all domestic support obligations be nondischargeable, and that commencement of bankruptcy not prevent the continued collection of child and other support obligations.
  3. Give State Claims Parity with Federal Claims in Bankruptcy: Today, bankruptcy rightly gives certain preferences in payment to federal claims against the bankruptcy estate, but similar treatment is not always accorded state claims. The Governors strongly support congressional efforts to reform the treatment of state claims in bankruptcy to provide parity of treatment with federal claims.
  4. Protect the State Role: The Governors oppose efforts to preempt state authority to determine exemptions under state bankruptcy law. Currently, debtors have a right to choose between federal and state exemptions. The Governors support efforts to shape bankruptcy reform policy that protects the rights of states to determine their own standards instead of having uniform federal regulations imposed without regard for individual state needs.
Source: NGA Economic Development Policy EDC-21: Bankruptcy Reform 01-NGA2 on Feb 15, 2001

Uphold commitments to states before other spending.

King adopted the National Governors Association position paper:

The Issue

The major budget issue will be over the surplus and how big of a surplus there will be. How much will be dedicated to paying down the national debt, how much to tax cuts, how much to increase defense spending, what to do about key discretionary spending programs, and whether and how to change key entitlement programs, such as Medicaid, Medicare, and Social Security? How these decisions are made could have significant impacts on the federal-state partnership, especially as they affect vital health and human services programs. What will happen to funding for priority state domestic discretionary programs for the federal fiscal year? When will Congress act?

NGA’s Position

Before considering new spending initiatives or tax cuts, the federal government must first uphold its current commitments to the states.
Source: National Governors Association "Issues / Positions" 01-NGA8 on Sep 14, 2001

Other candidates on Budget & Economy: Angus King on other issues:
ME Gubernatorial:
Paul LePage
ME Senatorial:
Scott D`Amboise
Susan Collins

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Page last updated: Dec 20, 2013