Jim Gilmore on Budget & Economy

Senate challenger 2008; previously Republican Governor (VA)

More banking oversight, even if it means bigger government

When the debate turned to the crisis on Wall Street, Gilmore and Warner both said they would support an increase in regulation, even if it meant bigger government. “We have to have more oversight,” Gilmore said.

Warner said the problems in banking and the mortgage business were caused by “too many people asleep at the switch in Washington. Everyone was looking at the next quarterly profits, and no one had a long-term plan,” he said.

Source: 2008 VA Senate debate reported in Washington Post Sep 19, 2008

I delivered a balanced budget; no deficit when I ended term

Warner criticized Gilmore for delivering [as Governor] a state budget “full of gimmicks” and accused him of implementing fiscal policy that helped create a $6 billion state shortfall. Gilmore said there was no deficit when he ended his term and that he delivered a balanced budget. He also has noted throughout his campaign that Warner promised not to increase taxes when running for governor but later instituted the largest tax increase in state history.
Source: 2008 VA Senate Debate in The Washington Times Sep 19, 2008

Virginia is booming; unemployment at record lows

    Despite the pressures of a national economic slowdown, our economy remains strong. In fact, last year, was a landmark year for economic growth and development.
  1. In November, Virginia unemployment dropped to an incredible 2%-the third lowest rate in the nation.
  2. Virginia companies announced investments of $6 billion in our economy last year, which is an all-time record.
  3. We have already kept our promise to create 250 thousand new jobs before the end of this Administration.
Source: 2001 State of the State Address to VA General Assembly Jan 10, 2001

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

Gilmore 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.

Gilmore 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

Protect local milk supplies with Southern Dairy Compact.

Gilmore signed the Southern Governors' Association resolution:

Source: Resolution of Southern Governor's Assn. on Milk Subsidies 01-SGA8 on Sep 9, 2001

Other candidates on Budget & Economy: Jim Gilmore on other issues:
GOP: Sen.John McCain
GOP V.P.: Gov.Sarah Palin
Democrat: Sen.Barack Obama
Dem.V.P.: Sen.Joe Biden

Third Parties:
Constitution: Chuck Baldwin
Libertarian: Rep.Bob Barr
Constitution: Amb.Alan Keyes
Liberation: Gloria La Riva
Green: Rep.Cynthia McKinney
Socialist: Brian Moore
Independent: Ralph Nader
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Page last updated: Feb 08, 2010