Matt Collins
09-22-2011, 09:11 PM
OBAMA-ish: PERRY’S "JOB CREATION" PLAN
https://mail.google.com/mail/?ui=2&ik=4ab49109c7&view=att&th=13294292da4d24ba&attid=0.1&disp=emb&realattid=7a6907a579715a4c_0.1&zw
Like Obama, Perry has subsidized failed companies with taxpayer dollars
"Today we are not only building upon the Enterprise Fund’s tremendous record of creating jobs, we are unveiling its crowning jewel. I am proud to announce that the state of Texas is investing $20 million from the Texas Enterprise Fund to help Countrywide Financial bring 7,500 additional jobs to Texas over the next 6 years." (Governor’s Remarks (http://governor.state.tx.us/news/speech/10202/). December 14, 2004)
Texas Was To Gain Over 5,000 New Jobs By Now, With "Ten-Fold Returns":
"By 2011, Countrywide will bring another 5,000 new jobs to Texas. This expansion will more than double Countrywide’s presence in Texas, and ensure that this outstanding employer remains a driving force in the state’s economy. In total, Countrywide will make a $200 million capital investment in the Texas economy, an amazing ten-fold return on the state’s $20 million investment. That investment means more money circulating in our economy, and more revenue generated for critical priorities like healthcare and education." (Governor’s Remarks (http://governor.state.tx.us/news/speech/10202/). December 14, 2004)
It’s "Proof" And "Exhibit A" of His Record of "Success":
"… Proof that the Enterprise Fund is a key reason Texas is leading the nation to economic recovery. You canconsider the Countrywide expansion to be “Exhibit A” as to why we need to continue to invest state dollars in the Texas Enterprise Fund." (Governor’s Remarks (http://governor.state.tx.us/news/speech/10202/). December 14, 2004)
But Like Solyndra, the corporate subsidies failed, and taxpayers paid MORE:
"Texas Attorney General Greg Abbott has launched a restitution program that will make $7.46 million available to eligible Countrywide Financial Corp residential mortgage customers in Texas." (February 13, 2009. Consumer Affairs (http://www.consumeraffairs.com/news04/2009/02/tx_countrywide_settlement.html))
Countrywide Financial Was Caught Taking Advantage of the Very Taxpayers Who Fed Them:
"Countrywide Financial was sued by Connecticut, which accused the company of steering customers into mortgages they could not afford, and charging excessive legal fees to borrowers in default. Connecticut joined California, Florida and Illinois among the states that have sued Countrywide, which as recently as last year made one in six mortgage loans. Washington State has separately announced plans to fine Countrywide and possibly revoke its lending license. The Bank of America Corporation acquired Countrywide in July for $2.5 billion.
"Connecticut is demanding that Countrywide make restitution to affected borrowers, give up improper gains, and rescind reform or modify all mortgages that broke state laws.
"Other states have accused Countrywide and its longtime chief executive, Angelo R. Mozilo, of unfair, deceptive or predatory lending, including the steering of customers into subprime and other home loans they could not afford." (New York Times (http://dealbook.nytimes.com/2008/08/07/connecticut-joins-other-states-in-suing-countrywide/). August 7, 2008)
But like President Obama, Perry just asks for more:
"Yesterday I announced that I will ask the legislature to authorize $300 million to replenish the Enterprise Fund…
"Let me close by saying how grateful Texas is for the Countrywide commitment."
(Governor’s Remarks (http://governor.state.tx.us/news/speech/10202/). December 14, 2004)
Let’s be fair and focus on another jobs "miracle":
"Gov. Rick Perry today officially welcomed Washington Mutual and 4,200 new jobs to Texas. Last month, Governor Perry announced that, with a $15 million grant by the Texas Enterprise Fund, Washington Mutual had chosen to expand in Texas though a city had not yet been determined.
"…Washington Mutual’s expansion into Texas had been secured, in part, by the Texas Enterprise Fund grant." (Governor’s Remarks (http://governor.state.tx.us/news/press-release/3291). June 29, 2005)
It promised dreams of jobs:
"Every job Washington Mutual creates not only represents a new opportunity for a family to afford their dreams, but also puts more money flowing through the entire economy as paychecks are cashed and spent." (Governor’s Remarks (http://governor.state.tx.us/news/press-release/3291). June 29, 2005)
It promised more growth:
"And it will allow our state’s economy to continue to grow with many more job creation announcements in the coming months and years." (Governor’s Remarks (http://governor.state.tx.us/news/press-release/3291). June 29, 2005)
But what did the investment deliver?
"In what is by far the largest bank failure in U.S. history, federal regulators seized Washington Mutual Inc. and struck a deal to sell the bulk of its operations to J.P. Morgan Chase & Co." (September 26, 2008. Wall Street Journal (http://online.wsj.com/article/SB122238415586576687.html))
Now, Perry swears off the same taxpayer funded policies he championed in Texas:
"…the other thing this president's done, he has proven for once and for all that government spending will not create one job. Keynesian policy and Keynesian theory is now done. We'll never have to have that experiment on America again." (September 7, 2011. New York Times (http://www.nytimes.com/2011/09/08/us/politics/08republican-debate-text.html?_r=2&pagewanted=all))
https://mail.google.com/mail/?ui=2&ik=4ab49109c7&view=att&th=13294292da4d24ba&attid=0.1&disp=emb&realattid=7a6907a579715a4c_0.1&zw
Like Obama, Perry has subsidized failed companies with taxpayer dollars
"Today we are not only building upon the Enterprise Fund’s tremendous record of creating jobs, we are unveiling its crowning jewel. I am proud to announce that the state of Texas is investing $20 million from the Texas Enterprise Fund to help Countrywide Financial bring 7,500 additional jobs to Texas over the next 6 years." (Governor’s Remarks (http://governor.state.tx.us/news/speech/10202/). December 14, 2004)
Texas Was To Gain Over 5,000 New Jobs By Now, With "Ten-Fold Returns":
"By 2011, Countrywide will bring another 5,000 new jobs to Texas. This expansion will more than double Countrywide’s presence in Texas, and ensure that this outstanding employer remains a driving force in the state’s economy. In total, Countrywide will make a $200 million capital investment in the Texas economy, an amazing ten-fold return on the state’s $20 million investment. That investment means more money circulating in our economy, and more revenue generated for critical priorities like healthcare and education." (Governor’s Remarks (http://governor.state.tx.us/news/speech/10202/). December 14, 2004)
It’s "Proof" And "Exhibit A" of His Record of "Success":
"… Proof that the Enterprise Fund is a key reason Texas is leading the nation to economic recovery. You canconsider the Countrywide expansion to be “Exhibit A” as to why we need to continue to invest state dollars in the Texas Enterprise Fund." (Governor’s Remarks (http://governor.state.tx.us/news/speech/10202/). December 14, 2004)
But Like Solyndra, the corporate subsidies failed, and taxpayers paid MORE:
"Texas Attorney General Greg Abbott has launched a restitution program that will make $7.46 million available to eligible Countrywide Financial Corp residential mortgage customers in Texas." (February 13, 2009. Consumer Affairs (http://www.consumeraffairs.com/news04/2009/02/tx_countrywide_settlement.html))
Countrywide Financial Was Caught Taking Advantage of the Very Taxpayers Who Fed Them:
"Countrywide Financial was sued by Connecticut, which accused the company of steering customers into mortgages they could not afford, and charging excessive legal fees to borrowers in default. Connecticut joined California, Florida and Illinois among the states that have sued Countrywide, which as recently as last year made one in six mortgage loans. Washington State has separately announced plans to fine Countrywide and possibly revoke its lending license. The Bank of America Corporation acquired Countrywide in July for $2.5 billion.
"Connecticut is demanding that Countrywide make restitution to affected borrowers, give up improper gains, and rescind reform or modify all mortgages that broke state laws.
"Other states have accused Countrywide and its longtime chief executive, Angelo R. Mozilo, of unfair, deceptive or predatory lending, including the steering of customers into subprime and other home loans they could not afford." (New York Times (http://dealbook.nytimes.com/2008/08/07/connecticut-joins-other-states-in-suing-countrywide/). August 7, 2008)
But like President Obama, Perry just asks for more:
"Yesterday I announced that I will ask the legislature to authorize $300 million to replenish the Enterprise Fund…
"Let me close by saying how grateful Texas is for the Countrywide commitment."
(Governor’s Remarks (http://governor.state.tx.us/news/speech/10202/). December 14, 2004)
Let’s be fair and focus on another jobs "miracle":
"Gov. Rick Perry today officially welcomed Washington Mutual and 4,200 new jobs to Texas. Last month, Governor Perry announced that, with a $15 million grant by the Texas Enterprise Fund, Washington Mutual had chosen to expand in Texas though a city had not yet been determined.
"…Washington Mutual’s expansion into Texas had been secured, in part, by the Texas Enterprise Fund grant." (Governor’s Remarks (http://governor.state.tx.us/news/press-release/3291). June 29, 2005)
It promised dreams of jobs:
"Every job Washington Mutual creates not only represents a new opportunity for a family to afford their dreams, but also puts more money flowing through the entire economy as paychecks are cashed and spent." (Governor’s Remarks (http://governor.state.tx.us/news/press-release/3291). June 29, 2005)
It promised more growth:
"And it will allow our state’s economy to continue to grow with many more job creation announcements in the coming months and years." (Governor’s Remarks (http://governor.state.tx.us/news/press-release/3291). June 29, 2005)
But what did the investment deliver?
"In what is by far the largest bank failure in U.S. history, federal regulators seized Washington Mutual Inc. and struck a deal to sell the bulk of its operations to J.P. Morgan Chase & Co." (September 26, 2008. Wall Street Journal (http://online.wsj.com/article/SB122238415586576687.html))
Now, Perry swears off the same taxpayer funded policies he championed in Texas:
"…the other thing this president's done, he has proven for once and for all that government spending will not create one job. Keynesian policy and Keynesian theory is now done. We'll never have to have that experiment on America again." (September 7, 2011. New York Times (http://www.nytimes.com/2011/09/08/us/politics/08republican-debate-text.html?_r=2&pagewanted=all))