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It's the Economy, Bill Sali

Today, in a stunning admission before the House Committee on Oversight and Government Reform, former Federal Reserve Chairman Alan Greenspan admitted "that he 'made a mistake' in trusting that free markets could regulate themselves without government oversight."  Stunning because as the New York Times says, he was "once considered the infallible maestro of the financial system."  Also a fervent proponent of deregulation, he now admits that his free-market ideology was not working.

This is not news to middle class Idahoans who have spent the last eight years waiting for the economic trickle to flow their way, but who are now facing increasingly sobering economic news, including nearly worthless retirement accounts, home foreclosures, layoffs and news that the state is now in recession.

Despite previously labeling the oversight hearings "political theater," Congressman Bill Sali (who is not shy about asserting that his free-market ideology is the solution for everything from gravity to health care), made the trip to Washington to join the hearings and even asked the chairman of the Securities and Exchange Commission, Christopher Cox, a question which included wondering if "somebody [was] going to go to jail."  (Short answer is, apparently not.)

It's unclear what prompted Sali's return to D.C. for this hearing while preferring to skip others but perhaps it had something to do with this from Politico:  "GOP 'goner' list warns of House rout," or maybe this from CNN:  "Late-breaking House races shift political playing field."

Whatever the reason, it's a little late to be concerned about oversight now.  Where was Congressman Sali when banks were lobbying for deregulation?  Not sure, but he was taking their handouts.  Where was Congressman Sali a year ago when Idahoans facing foreclosure could have used his vote to reduce taxes on their renegotiated mortgages?  He voted "No."  Where was Congressman Sali when Idahoans could have used some relief at the pump by reducing dependence on foreign oil and investing in alternative fuels?  Well, he blustered a bit and voted "No" on that too while also taking oil company handouts.

Seems he was voting "No" a lot, actually.  Here are just a tiny few:

Nothing wrong with voting "No" occasionally but Idaho's 1st District could have used someone looking out for them these last two years.  It's a little late to be figuring that out.

October 23, 2008 at 08:14 PM in Sali |

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legion

Well, people who haven't actively been getting rich off it have know for at least a couple of decades now that supply-side ("trickle-down", "voodoo", etc.) economics _just doesn't work_...

Maybe one of these days Republicans will realize that the richest 3-5% of America still only does 3-5% of the voting...

Posted by: legion | October 24, 2008 at 12:19 PM

MountainGoat

Well said legion.

For another link to the original NYT article go here:

http://www.nowpublic.com/world/greenspan-concedes-error-regulation

Posted by: MountainGoat | October 24, 2008 at 07:06 PM

The comments to this entry are closed.

MountainGoat
MountainGoat

Quotes For 2010

  • "The main thing is to keep everybody going down that road as we try to find the answers and solutions to all these problems. It'll be fun! We'll get it done." — Majority Leader Mike Moyle (R-Star) when asked in an Idaho Reports broadcast how the State House will handle making tough budget decisions this year, 1.29.10.

Quotes For 2009

  • "[Some politicians] wouldn't recognize the Constitution if it fell in their laps and called them Daddy." — Rep. Lenore Hardy Barrett (R-Challis) at a tea party tax protest.
  • "Just, you know, putting beans on the table." — former Congressman Bill Sali (R-ID-01) when asked by Nate Shelman (670 KBOI) what he's doing these days.
  • "I said yesterday we hope and pray things will get better before they get worse. It's obvious to me some of you need to do a better job of praying." — Sen. Dean Cameron (R-Rupert), Joint Finance-Appropriation Committee co-chair on the grim economic forecast facing the committee.
  • “We’ve been called a lot of things but we’ve never been called sneaks before.” — Rep. Maxine Bell (R-Jerome) in a budget dispute with the governor's staff over legislators' computer funding.
  • "I’m not wearing rose-tinted glasses. But I am a glass-half-full kind of guy." — Gov. C. L. "Butch" Otter attempting to remain optimistic while delivering tough economic news in his State of the State/Budget message.

Quotes For 2008

  • "I am not ashamed that we use a lot of energy in this country. It has made us the most prosperous Nation on the face of the planet. ... Using energy makes us prosperous." — Congressman Bill Sali (R-ID-01) during debate on an energy bill that, among other things, invested in alternative and renewable energy sources and repealed tax subsidies for large oil companies. (H.R.6899)
  • "If [Oversight Committee Chairman] Henry Waxman was interested in doing more than just showboat, we'd be there in a heartbeat. It's political grandstanding." — spokesman Wayne Hoffman explaining why Congressman Bill Sali (R-ID-01) was absent from congressional oversight hearings into the financial crisis where, among other things, it was learned that AIG executives indulged in a lavish retreat a week after the bailout.
  • "You know what, campaigns are fast and furious, I accept responsibility that we don't have the right citation there, but the facts I stand by - we are correct about that." — Congressman Bill Sali (R-ID-01) reacting to a campaign commercial fact-checking report.
  • "There are people out there without health care, and we need to address that, but it's not as big of a problem as some people would make it out to be" — Congressman Bill Sali (R-ID-01) in a Lewiston, ID debate
  • "People the world over have always been more impressed by the power of our example than by the example of our power." — President Bill Clinton in a speech at the 2008 DNC
  • "To my supporters, to my champions, to my sisterhood of the traveling pantsuits, from the bottom of my heart, thank you." — Senator Hillary Clinton in a speech at the 2008 DNC
  • "The America that we know, that the founding fathers envisioned, will cease to exist." — Congressman Bill Sali (R-ID-01) speaking at the state GOP convention about the possibility of a Democratically controlled White House and Congress.
  • "Sometimes the problems have to get larger before you can solve them. We can still drive around the potholes, so they must not be big enough." — House Speaker Lawerence Denney (R-Midvale), explaining that lawmakers still need to be convinced about the extent of road maintenance problems before they'll agree to tax or fee increases.
  • "Those people that believe in shooting animals through the fences . . . ought to turn the rifle the other way." — Former Governor Cecil Andrus, at sportsmen's rally, decked out in full camouflage, urging opposition to "shooter bull" operations on domestic elk farms.
  • "GARVEE is like swallowing a raw egg - it seems to be one of those things that's really hard to stop in the middle of." — Rep. Marv Hagedorn (R-Meridian), in comments on a package of transportation bills introduced by House GOP leaders at an emergency committee meeting.
  • "I'm a professional dairyman. I have milked and milked everything I can possibly milk." — State Police Maj. Ralph Powell, arguing that the state crime lab's bare-bones operation has reached its limit and now costs the state money as testing is sent to private labs.
  • "Idaho is ranked last in the nation in protecting the safety of children in day care centers." — Sen. Kate Kelly (D-Boise), in support of an unsuccessful move by Senate Democrats to force a daycare standards bill out of committee.
  • "This [anti-discrimination bill] is something we will propose every year until it passes." — Rep. Nicole LeFavour (D-Boise), responding to the latest BSU Public Policy survey in which 63 percent of Idahoans think it ought to be illegal to fire someone for being gay or seeming to be gay.
  • "I assumed it would be a bunch of radical college students, so to fit the part, I grew a goatee, got a revolutionary T-shirt and put on some ratty jeans." — Rep. Curtis Bowers (R-Caldwell) in an Idaho Press-Tribune opinion explaining how he disguised himself to uncover alleged communist plots.

Quotes For 2007

  • "Divorce is just terrible. It's one of Satan's best tools to kill America." — Rep. Dick Harwood (R-St. Maries) describing the work of the Idaho Legislature's Family Task Force.
  • "I am not gay; I never have been gay." Senator Larry Craig (R-ID) in a statement responding to news of his arrest and subsequent guilty plea to disorderly conduct after an incident in an airport men's room.
  • “Most of the hospitals in this country have Christian names. If you think Hindu prayer is great, where are the Hindu hospitals in this country? Go down the list. Where are the atheist hospitals in this country? They’re not equal.” — Rep. Bill Sali (R-ID-01) to the Idaho Press-Tribune editorial board in response to criticism of his views regarding Hindu prayer in the Senate.
  • "We are all Nintendo warriors today. Remember that game, that electronic game, a few years ago, push buttons zim, zam, boom and it was all over with? That is not the way you fight war, although we as a society have grown to believe that." — Senator Larry Craig (R-ID) during debate on an amendment to a bill providing for defense authorization.
  • "While we are Democrats and Republicans, in our hearts we are all Idahoans." — Sen. Clint Stennett (D-Ketchum), reaching out to Republicans while outlining the Democratic agenda for the 2007 legislative session.
  • "One of the hardest things we've had to do here is taking off our party hats." — Rep. Marv Hagedorn (R-Meridian) on a proposal to restrict Idaho's primary elections.
  • "This is outrageous. The people of Idaho are entitled to have their representatives base their votes on the merits of a bill, not on who backed the loser in a speaker's contest." — Former GOP Gov. Phil Batt responding to accusations of political retribution taken by House Speaker Denney (R-Midvale) on other members.
  • “There was one of those six projects that was removed altogether. Why? Because the senator and the representatives from that district were from the wrong political party. We need to take a step back" — Sen. Dean Cameron (R-Rupert) to the Senate when debating the GARVEE bill.
  • "I'm prepared to bid for that first ticket to shoot a wolf myself." — Gov. Butch Otter, speaking to a hunters' rally at the Statehouse.
  • "To get a kick out of smoking industrial hemp, it would take a cigar the size of a telephone pole." — Rep. Tom Trail (R-Moscow), downplaying the relation between hemp and its cousin marijuana
  • "I guess I would just make a plea saying we need the money. You know we need the money on roads." — Rep. JoAn Wood (R-Rigby), on proposed bill to collect gas tax from sales on Indian reservations.
  • "No one wants to carry the canoe bill." — Rep. Eric Anderson (R-Priest River), agreeing with Gov. Otter that non-motorized boats should also pay registration fees, but noting any such proposal will be a tough sell.
  • "I don't think we should let the threat of a lawsuit force us to implement something that's not well thought out." — Abbie Mace, Fremont County Clerk, testifying against a "modified-closed primary" bill being pushed by GOP leaders.
  • "There's a lot of things that I pointed out in my State of the State (address) that haven't passed. Unfortunately, I can't think of one that has." — Gov. Butch Otter, addressing reporters on the legislative session so far.
  • "I say let's have a hearing and take our clothes off and go after it." — Rep. Jim Clark, R-Hayden Lake, trying to get lawmakers to print his bill.
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