SC Governor: We're moving close to 'a savior-based economy'
Gov. Mark Sanford
âA problem that was created by building up of too much debt will not be solved with yet more debt,â Gov. Mark Sanford said Sunday, making a reference to the federal deficit spending that will likely finance the federal stimulus package.
âWeâre moving precipitously close to what I would call a savior-based economy,â Sanford also said Sunday on CNNâs State of the Union.
The South Carolina Republican said such an economy is âwhat you see in Russia or Venezuela or Zimbabwe or places like that where it matters not how good your product is to the consumer but what your political connection is to those in power.â
âThat is quite different than a market-based economy where some rise and some fall but thereâs a consequence to making a stupid decision,â Sanford said after pointing to the powers granted to the Treasury Department and the Federal Reserve to help deal with the current economic crisis....
Finally! Common sense on the other side of the fence. Except, the pain will not just be prolonged but crippling. Although only the Lord knows when this will happen a depression is our future. Hyper-inflation is imminent. Wisdom here could be ownership.