Gary Johnson is a great presidential candidate
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Gary Johnson is a great presidential candidate
2-term Governor of New Mexico. Here's a great interview:
http://www.caseyresearch.com/article...no-one-s-heard
http://www.caseyresearch.com/article...no-one-s-heard
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Joined: Jul 2005
Posts: 6,420
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--quoting--
Gary Johnson’s track record as governor of New Mexico, 1995-2003:
Gross state product (in current dollars) grew from $38.6B to $53.5B, up 38.6%.
State budget went from $6.33B to $7.95B, 2.9% annual compounded growth.
State revenues rose from $5.01B to $7.74B, a 5.5% compounded annual increase.
Inherited a budget deficit of $1.32B. Submitted a balanced budget in 2003, the legislature added spending to produce a $209M deficit, which he vetoed, but the veto was overridden. Taking into account general reserves, left NM with a $1B in surplus funds.
Taxes: cut top rate for personal income tax from 8.5% to 8.2%. Cut gasoline tax 6 cents/gal. Also cut state capital gains tax and unemployment tax.
Per-capita personal income rose from $17,772 to $24,977, a gain of 40.5%.
Unemployment rate dropped from 6.5% to 5.7%.
Gary Johnson’s track record as governor of New Mexico, 1995-2003:
Gross state product (in current dollars) grew from $38.6B to $53.5B, up 38.6%.
State budget went from $6.33B to $7.95B, 2.9% annual compounded growth.
State revenues rose from $5.01B to $7.74B, a 5.5% compounded annual increase.
Inherited a budget deficit of $1.32B. Submitted a balanced budget in 2003, the legislature added spending to produce a $209M deficit, which he vetoed, but the veto was overridden. Taking into account general reserves, left NM with a $1B in surplus funds.
Taxes: cut top rate for personal income tax from 8.5% to 8.2%. Cut gasoline tax 6 cents/gal. Also cut state capital gains tax and unemployment tax.
Per-capita personal income rose from $17,772 to $24,977, a gain of 40.5%.
Unemployment rate dropped from 6.5% to 5.7%.
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TCR: Let’s get back to that in a minute. But before we leave the budget, we’re currently running something like one trillion six in yearly deficit spending. Some people have suggested that the only way out of that mess is simply to default on the debt and carry on from there. How do you feel about that?
GJ: I think we’re on the verge of a monetary collapse. But I don’t see us ever defaulting on the debt. I see us printing the money. Last year, the Federal Reserve was printing, out of thin air, up to 70% of the money it was using to purchase Treasuries. And the monetary collapse comes at the point at which we’re printing 100% of the money used not only to incur new debt, but also the rollover of existing debt. When that happens, in my opinion, it’s “Katie, bar the door.” We need to stop printing money, and that’s not a very sexy message… Or maybe it is sexy, because unless we fix this, we’re all going to find ourselves with nothing.
TCR: So what you’re saying is that you’re going to honor the debt but inflate it away and destroy the dollar.
GJ: No, I’m not going to do that. But that’s going to be the reality of what happens if we keep printing money
GJ: I think we’re on the verge of a monetary collapse. But I don’t see us ever defaulting on the debt. I see us printing the money. Last year, the Federal Reserve was printing, out of thin air, up to 70% of the money it was using to purchase Treasuries. And the monetary collapse comes at the point at which we’re printing 100% of the money used not only to incur new debt, but also the rollover of existing debt. When that happens, in my opinion, it’s “Katie, bar the door.” We need to stop printing money, and that’s not a very sexy message… Or maybe it is sexy, because unless we fix this, we’re all going to find ourselves with nothing.
TCR: So what you’re saying is that you’re going to honor the debt but inflate it away and destroy the dollar.
GJ: No, I’m not going to do that. But that’s going to be the reality of what happens if we keep printing money
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Originally Posted by Gary Johnson
I think we’re on the verge of a monetary collapse. But I don’t see us ever defaulting on the debt. I see us printing the money. Last year, the Federal Reserve was printing, out of thin air, up to 70% of the money it was using to purchase Treasuries. And the monetary collapse comes at the point at which we’re printing 100% of the money used not only to incur new debt, but also the rollover of existing debt.
[...]
Borrowing money is OK when it comes to the debt, as long as you’re borrowing. But we’re printing money to do that.
[...]
But if you abolish the Fed, the Treasury would take over the money printing the next day.
[...]
Borrowing money is OK when it comes to the debt, as long as you’re borrowing. But we’re printing money to do that.
[...]
But if you abolish the Fed, the Treasury would take over the money printing the next day.
Originally Posted by Casey Research article
Gary Johnson’s track record as governor of New Mexico, 1995-2003:
Gross state product (in current dollars) grew from $38.6B to $53.5B, up 38.6%.
State budget went from $6.33B to $7.95B, 2.9% annual compounded growth.
State revenues rose from $5.01B to $7.74B, a 5.5% compounded annual increase.
Inherited a budget deficit of $1.32B. Submitted a balanced budget in 2003, the legislature added spending to produce a $209M deficit, which he vetoed, but the veto was overridden. Taking into account general reserves, left NM with a $1B in surplus funds.
Taxes: cut top rate for personal income tax from 8.5% to 8.2%. Cut gasoline tax 6 cents/gal. Also cut state capital gains tax and unemployment tax.
Per-capita personal income rose from $17,772 to $24,977, a gain of 40.5%
Gross state product (in current dollars) grew from $38.6B to $53.5B, up 38.6%.
State budget went from $6.33B to $7.95B, 2.9% annual compounded growth.
State revenues rose from $5.01B to $7.74B, a 5.5% compounded annual increase.
Inherited a budget deficit of $1.32B. Submitted a balanced budget in 2003, the legislature added spending to produce a $209M deficit, which he vetoed, but the veto was overridden. Taking into account general reserves, left NM with a $1B in surplus funds.
Taxes: cut top rate for personal income tax from 8.5% to 8.2%. Cut gasoline tax 6 cents/gal. Also cut state capital gains tax and unemployment tax.
Per-capita personal income rose from $17,772 to $24,977, a gain of 40.5%
Between 1990 and 2009 (which would exceed Johnson's terms), New Mexico was the "worst" state, running a cumulative deficit of over 200% of GDP.
Source
Source
And, for what it's worth, I probably agree with the majority of his positions including his healthcare positions, gun rights, reduced military presense overseas, more state-run institutions versus Federal, etc.
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So, as New Mexico balanced its state fiscal budget, it increased its federal transfer deficit. What does everyone think would have happened if there were no federal transfers?
I'm thinking a reduction in federally and state supported projects and support like Medicaid, unemployment, municipal construction projects, etc.
I'm thinking a reduction in federally and state supported projects and support like Medicaid, unemployment, municipal construction projects, etc.
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http://www.advocate.com/News/Daily_N...to_GOP_Debate/
Johnson wasn't asked during the first debate about his views on same-sex marriage (only Ron Paul was asked), but he is on record elsewhere as firmly in the column for marriage equality. When candidates such as Mitt Romney, Michele Bachmann (and later Rick Perry) signed a pledge from the National Organization for Marriage to ban same-sex marriage in the U.S. Constitution, it was Johnson who scolded them.
"If candidates who sign this pledge somehow think they are scoring some points with some core constituency of the Republican Party, they are doing so at the peril of writing off the vast majority of Americans who want no part of this ‘pledge’ and its offensive language," said Johnson. "The Republican Party cannot afford to have a presidential candidate who condones intolerance, bigotry and the denial of liberty to the citizens of this country. If we nominate such a candidate, we will never capture the White House in 2012."
Johnson advocates for "gay unions" as an extension of personal freedom. "I think the government ought to get out of the marriage business," he told ABC News, echoing libertarian-sounding statements made by Paul. (Watch the interview below.) It's not clear what Johnson would support if it's not an option for the government to stop deciding who is married.
"If candidates who sign this pledge somehow think they are scoring some points with some core constituency of the Republican Party, they are doing so at the peril of writing off the vast majority of Americans who want no part of this ‘pledge’ and its offensive language," said Johnson. "The Republican Party cannot afford to have a presidential candidate who condones intolerance, bigotry and the denial of liberty to the citizens of this country. If we nominate such a candidate, we will never capture the White House in 2012."
Johnson advocates for "gay unions" as an extension of personal freedom. "I think the government ought to get out of the marriage business," he told ABC News, echoing libertarian-sounding statements made by Paul. (Watch the interview below.) It's not clear what Johnson would support if it's not an option for the government to stop deciding who is married.
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Eater. As Johnson cut the state fiscal budget, the "deficit with the US Treasury" increased.
They left out that New Mexico went from receiving $1.85 in Federal spending per $1.00 paid in Federal taxes in 1995 to receiving $2.17 in Federal spending per $1.00 paid in Federal taxes in 2003. That ranked it "worst" in terms of deficit states.
Between 1990 and 2009 (which would exceed Johnson's terms), New Mexico was the "worst" state, running a cumulative deficit of over 200% of GDP.
Source
Source
Between 1990 and 2009 (which would exceed Johnson's terms), New Mexico was the "worst" state, running a cumulative deficit of over 200% of GDP.
Source
Source
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