February 9, 2009

Mark Sanford: We’re closing in on a ‘savior-based economy’

Posted: 12:51 AM ET

In an interview with CNN on Sunday about the federal stimulus package, Gov. Mark Sanford of South Carolina succeeded in uniting economics and sacrilege. “We’re moving precipitously close to what I would call a savior-based economy,” Sanford said.

“A savior-based economy sort of is definitial of what 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.

“”And if you think about the power that’s been granted to the fed of the Treasury, it has savior-like qualities. Everybody knows that we’re in an economic slowdown. But the consideration now is, if I can just get my word, if I can be the plaintiff to the right person in Washington D.C., I can get these things fixed.

“That is quite different than a market-based economy where some rise and some fall but there’s a consequence to making a stupid decision.”

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Filed under: Larry King Live • Politics

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Mike P   February 9th, 2009 3:03 am ET

Makes sense. What are we going to do about that? I mean, I don't even know what to say to that. They have the power to dictate how the free world lives their lives by creating laws that are almost immoral, considering we are a christian and capitolist nation. The fact that "WE THE PEOPLE" are completely powerless in this situation just prooves that we are in serious need of a overhaul in washington. I feel that if this is a currupt system w/ its wheels about to fall off, we need to do something now. CA. has already started to slowly turn off the water spigot, if you will, with a haunted look in their eyes as they realize that they can't fix this and to hope we just 'go away'.
How does cutting income (2 days mandotory, every mo) to all the government employee's going to help, anything. CA has 1 of the highest property rates in the nation. You want us to spend money, but everyday thousands of jobs are lost, and the ones that are left, the hours are getting cut.

Dave of Detroit   February 9th, 2009 9:07 am ET

Free Market-True meaning is "Give away the Countries' jobs and create huge deficits in the name of powerful special interests-break unions so the middle class no longer has a voice and allow massive corruption in the financial market" or the shorter version is "Reap what you sew!" When our elected representatives are more concerned with OIL, Pharmacuetical Companies, going to war for Defense Contracts and refusing to protect our Borders agaisnt an onslaught of Drugs and illegal aliens that they hire themselves to get lower wages, it is a prescription for disaster. Obama talks of a catastrophe as if it has not already taken place-It has! The economists think they can generate jobs with money and all they are doing is allowing incredibly corrupt people merge their companies to get bigger CEO bonuses and lay off thousands more of their workers-the snake is swallowing its own tail!

hugh ~ california   February 9th, 2009 11:27 am ET

This is such a typical GOP response. Are the republicans happy their is communism and Russia, so they can call any act of the US government socialism if it goes to aid working people? Where do they think a free-market comes from? It comes from daily harding working people, not from some financial report card. Sanford is so wrong to compare this economic depression to "a market-based economy where some rise and some fall...." It hasn't just fallen, it has crashed to the ground!

The republicans have destroyed our economy by failing to regulate wallstreet, and allowing them to outsource American jobs. The republicans idea of a free-market must mean "Anywhere But American Jobs!" If the GOP would use some of their great talented minds to actual do something to create jobs instead of using the only real gift they seem to have lately–talk–we wouldn't even be in this economic crisis. Talk is the easiest used of all talents. Talk is cheap.

Cornell Miller   February 9th, 2009 12:44 pm ET

Larry King, When will we see a tribute to the late / great Eartha Kitt? who passed Thursday, December 25, 2008.

Thanks [ 2 / 9 / 09 ],

Cornell Miller

James Rupert   February 9th, 2009 2:36 pm ET

Larry, please ask the next person who suggests that payroll tax cuts would be better than the stimulus package, how cutting payroll taxes will help the hundreds of thousands of people who have been laid off in the last few months?

Jack   February 9th, 2009 3:32 pm ET

We can sit back and do nothing like Mark Sanford, maybe that is why his state has one of the highest unemployement rates in the country.

Mike P   February 9th, 2009 3:59 pm ET

When did the presidency become a dictatorship? How can America call itself the land of the free if the government is going against what over half of the nation believe's in? The only people that want this stimulas package to go through is the polititians and big business. For the few citizens that think this plan should go through, they must still take in every word of it and believe it because they still think washington has our best intrest at heart. Poor things, wake up.

Jeff   February 9th, 2009 7:09 pm ET

Obama is one-step above used car salesman. "You gotta do this plan or we will a have disaster." Sounds like "you gotta buy this car now. ".. Nobody can feel any pain in our country. Everyone wants something for nothing. Recessions are good for the economy. They clean out the loser companies and let the strong thrive. But our silly federal government wants to prolong the agony. The congress and President think they are doing good, but in reality, they are just wasting taxpayer money that will prolong the recession. Has anyone in Washington, D.C., ever read any economic history? Finally, where exactly in the U.S. constitution does it say Congress can give taxpayer money to private companies? I think this out thing is illegal.

Gary Chandler in Canada   February 9th, 2009 9:16 pm ET

Jeff; America is $53,000,000,000,000 trillion in the hole. Watch the documentary, I O U S A
There is no 'wash out' for this catastrophe that does not end before your grandchildren and great grandchildrens' time.
The World Bank should have walked in long ago.
Economies have been running like Ponzis, and they want to "get credit flowing again." sheesh
I completely agree with you, that good money should NOT be thrown after bad! Where we differ is you think it is bad: I think it is BAD, BAD< BAD!
If everybody [government deaprtments, businesses, people] viaGovernment for the People regulations, HAD to live within their incomes, [fiscal responsibilty], there would be very rich, rich, middle and poor folks, but everybody, who wants, would have a job.
Circle the Wagons.

Barb   February 9th, 2009 9:50 pm ET

And to think the Sec of the Treasury, is going to come in with a super plan tomorrow night , when this man couldn't remember to pay his income taxes for 3 years. And he is now over the IRS which really should investigate this individual. I wouldn't trust a word he says, unless the words are I resign. I'm sure President Obama can find some one (maybe) who is more qualified and who has paid his/her taxes on time.

Shivaglal M. Cheruvalath   February 9th, 2009 9:54 pm ET

Hello CNN:

Is it possible for you to avoid Rowland as your expert political contributor. I have been watching him for long. He is a totally baised fellow. The way he talk and the way he analyse facts.
I am just an independent observer.
It will be good for CNN, because you are suppose to be independent.

Gary Chandler in Canada   February 9th, 2009 9:59 pm ET

If somebody has a booger hanging out, a good friend will tell them. I am not anti American, but, boy, Obama is way too pro American.
You canNOT be saved, if you don't know you NEED saving. He keeps saying America has always risen to occasion, which it has a few times.
In terms of crime, education, health and foreign affairs, the plan should be to become a World role model BEFORE talking about becoming the World leader again!
When CNN reported 1,000,000 teen age girls had chlamydia and a FULL 25% of them had some form of STD; I wondered if a brilliant lawyer gain fame and fortune from doing a class action lawsuit.
Sue every President back to Eisenhower for creating a country that caused them to be born into such a high risk situation.
What about all the victims of crime? They should be able to blame 'someone' for creating the #1 crime rate of developed nations.
High school drop outs? If America was #1, instead of #20, in education there would be a SHIP load of graduates.
If Obama looked at the #12 Ranking in the United Nations Human Development Index and made it the #1 Prime Directive to be in the top 5, like Canada, within 8 years; all other Issues would fall into place.
Circle the Wagons!

Gary Chandler in Canada   February 9th, 2009 10:16 pm ET

The ONLY plan available is a World Bank take over. They are the ones sleeping at the switch right now!
Short selling HAS to be outlawed.
ALL Lending over twice of prime HAS to be outlawed.
Wage and price controls in the economy are just as essential as traffic lights and Stop signs on the roadways. Letting pigs run wild in the trough is NOT a free economy, it is WILDNESS.
[Credit rates have to be reduced by 1% per month until they are under the level of loan sharking and usury. NO MORE irrecoverable lending, period!]
America HAS to be the World leader on building up the Fair Trade Movement. [FAIR WORLD]

Gary Chandler in Canada   February 9th, 2009 10:21 pm ET

James Rupert February 9th, 2009 2:36 pm ET

Larry, please ask the next person who suggests that payroll tax cuts would be better than the stimulus package, how cutting payroll taxes will help the hundreds of thousands of people who have been laid off in the last few months?
The theory is, JR, they have more money to spend, forcing employers to hire at minimum wage to keep up with the rush of shoppers.
Direct stimulus checks to individuals are the same animal.
6 of one, or 1/2 dozen of the other.

Gary Chandler in Canada   February 9th, 2009 10:23 pm ET

Oh yummy, David Gergen just mentioned the World Bank. Where have I heard that mentioned before? International Monetary take over anyone?

Ella   February 10th, 2009 12:01 am ET

It is so interesting that for the past 8 years American has been sitting in the toilet as the fat cats fed their faces and stuffed their pockets. This president comes in and tries to help the middle class who has been left sitting under the pipes about to receive the results of the flush, i.e, prices continued to soar on every front while wages stood still, jobs being shipped abroad and people laid off. How was our economy suppose to survive? Now all of a sudden, after Mr. Obama has not been in office a month yet, he is to blame for the mess we're in. And, what happened to the billions of dollars not accounted for before Mr. Obama took office? Yet the republicans have the audacity to cry foul. What hyprocrisy!

Michael C. Mchugh   February 10th, 2009 8:59 am ET

I respect the governor for sticking to his principles, even if those principles are not mine. I favor a mixed economy with a much stronger state sector to pull us out of this depression. Time will tell that this is the right course, providing that we don't run out of time.

I do question the other Republicans in Congress, who fully intend to vote against everything Obama proposes in the next two years, while quietly sending lots of federal money back to their states. They get to have it both ways, unless someone calls them on it. If they truly think all this spending is a bad policy and will bankrupt the country, then they ought to do what the honorable governors of Texas and South Carolina have done and refuse to take any of it for their states. Not to do so appears to be merely hypocritical.

Actually, I agree with Senator McCain and others about the long term dangers of the debt. The world may be on the brink of general fiscal and monetary collapse, and the US might not even be able to pay for scaled-down defense and Social Security. (Forget about being the Great Superpower of 1945: those days are long and gone, folks.) What McCain and the other Republicans are very slow in figuring out id that there are already plans underway to deal with all these trillions in debts, involving major changes to the IMF and other global institutions. They are slow on the uptake, as usual.

angiebova   February 10th, 2009 5:30 pm ET

Thank you for not having Joy Behar host
anymore. She is really too opinionated, a
real bigot and likes to embarass people.
Her constant rudness about Pres. George
W. Bush is tiring. I used to enjoy The View
but can't watch her on it anymore.
I am thriled you have people of the calibur
of John King, Campbell Brown and Anderson
Cooper instead.

Where is Cindy Sheenan? Is she camping
out in Chicago by Obama's old mansion?

Joe , Oh   February 10th, 2009 9:04 pm ET

I would like to know if our government plans on helping people who make there mortgage payments maybe by way of an interest rate cut. So many people mortgaged there homes beyond what the budget could aford with all interest loans etc...... I absolutely refuse to file for bankrupsy!!!!!

Patricia Lite Hickman   February 11th, 2009 11:27 pm ET

My sister-in-law, Barbara and I, often chat and solve the world ills in our conversations 🙂 This is the plan we came up with for the bailout.

If you agree that this could be a solution, copy and email friends and family. If it gets attention it could quickly pull us out of the mess we are in, solve the homeless problem and various other ills we have going on now.
According to CNN two-thirds of the economy depends on consumer spending, this is a solution that could immediately boost the economy and cost nowhere near, the eight hundred billion package in the process of being worked out.

1. Freeze all prices where they are today.

2. Secure the borders – allow no drugs into the Country

3. Population of the USA is 300,000,000

4. Give each adult over age thirty $1,000,000

People would immediately start buying or paying for homes. Purchase cars and boost the over all economy within the first week. That in turn would boost the manufacturing industry immediately, and most likely create a backlog which in turn will create more jobs.

5. Stop the tax breaks for outsourcing American jobs immediately.
It was a mistake that has come home to roost in a few decades.

6. Give incentives to open small businesses.

7. Continue the tuition/student aide plan.

8 Institute the Health Care plan for every citizen that Senators and Congress have.

9. Work on a minimum wage plan that would deliver a true living wage for workers.

10. Continue with the job creation programs for every state.

11. Let the banks and business that used poor judgment fail. With the boost in the economy, they will regroup. Stop bailing them out with taxpayer funds that are not helping the people.

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