Wednesday, December 10, 2008

Alabama Senator Shelby and Louisiana Senator Vitter should take responsibility for their states' terrible economies

Both Shelby and Vitter are opposed to the loans to the Big 3 automakers and they will try to block this legislation. If they succeed it will likely result in another major blow to the U.S. economy.

One look at the horrendous economic ranking of the states represented by these senators should expose them for the hypocrites and liars that they are.

Gross State Product
-Alabama gross state product 25th in the nation
-Louisiana gross state product 24th in the nation
-Michigan gross state product is 9th in the nation, even with all the difficulties they are having.

Per capita earnings
-Alabama per capita net earnings $20,965 43rd in the nation
-Louisiana per capita net earnings $22,720 34th in the nation
-Michigan per capita net earnings $23,204 29th in the nation (even with the problems and layoffs)

But here's the real kicker...

Transfer payments received from the Federal Government (per capita):

-Alabama: 13th in the nation when it comes to receiving transfer payments per capita
-Louisiana: 12th in the nation
-Michigan: 20th in the nation.

So the residents of Mr. Shelby's and Mr. Vitter's states are more on the dole from the Federal Government than the people in Michigan! Outrageous!!!

Let them know how you feel. Their email is below:

Vitter email:
Shelby email:


googleheim said...

Fiscal balance budgeting, give-nobody-nothin', I'm a chicken-hawk, sort of response to the present situation is going to blame game and focus all monies (even if they are Fed credits) as stolen from great great great great great children, social security, and all that as if they were from the RReal Economy firstly, and not separate from the Fed's ability to credit accounts.

Separate the real economy from the Fed's ability to expand the financial foundation of our sovereignty.

Maybe they want to start printing Confederate currency and this of course would be backed by the Yen since the Honda and Toyota plants are all in the South ???

taxes will not be raised? maybe, if you can keep the Fed's from misunderstanding the process and not mix things up themselves later.

mike norman said...

Yes, if Shelby and Vitter understood floating exchange rates and non-convertible currency they'd get their states to issue IOU's for all state spending needs. Then they could deficit spend like the Federal Gov't and perhaps they'd see an improvement in their states' economic rankings.

googleheim said...

Well, it's a good time to pay back any foreign suppliers.

Why don't they just spin and rotate the currencies so that we can all take turns paying off all the debt.

OK - energy bubble popped, but Houston is still OK compared to 1987 ( 185,000 jobs lost in one year ).

What are the other bubbles to come ?

Credit Card debt ?

Credit default swaps ?

Is the present dollar a bubble ?

When the USA sends aid to countries like Georgia, Israel, and other allies - is it possible to find out where the money goes ?

Russia used to immediately wire the money back to a bank in NYC so it would not get devalued or stolen during the 1990's.

London calling ...