Sound familiar?

  • Article by: LORI STURDEVANT , Star Tribune
  • Updated: October 25, 2011 - 1:42 PM

State GOP mimics national GOP.

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jeditemplarOct. 25, 11 2:48 PM

I would be curious to hear about the sources that debunk the contention that job creators are holding back because of uncertainty. We have the huge Obamacare mandate hanging over us as well as the threat of cap and trade as well as other regulations that are discouraging investment in the economy just now. That is what I see in the economy and hear from leadership at the company where I work. Not familiar with any debunking sources.

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jo1glexOct. 25, 11 3:41 PM

I just attended a conference hosted by a major financial firm. The heads of several major mutual fund companies were there, as well as several former Bush Administration Treasury officials (who now work in the private sector).

There were hours of discussions of the current economic situation and projections for the future. Their job is to invest on behalf of others.

The unanimous sentiment was that the major problem facing the job market in the US is household debt. Income stagnation for the past several decades forced an over-reliance on credit, which in conjunction with relaxed regulation as demanded by the finance industry, created a bubble in credit of all forms including housing finance. The bursting of that bubble has forced US households to cut back on spending. This has slowed the economy to a crawl, as consumer spending is 70% of GDP.

Additionally, all agreed that political paralysis prevents meaningful efforts to reduce health care costs for businesses, employees and Medicare, sensible adjustments to Social Security, or responsible taxation policy. So they don't see things getting any better sooner. One expert did mention "Obamacare," but said that it would be at worst a wash, considering the annual 10% increases we've had for over a decade.

Nobody--not a soul--said anything about regulation, other than to say we need to reinstate Glass-Steagall.

This from Wall Street people; some of whom are on TV talk shows regularly.

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DanW52Oct. 25, 11 4:29 PM

I strongly agree with all regulations and laws getting regular reviews, with input from any citizen or business.

What I strongly disagree with is the Republican's motivation for doing so.

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patrickjdOct. 25, 11 4:58 PM

Republicans should stress implementing and doubling down on the Stossel Rule. For every new job killing regulation that the DFLers try to pass, there should be not 5 but at least ten current regulations that should be eliminated. No longer would this state be referred to by "The Mayor" as the "State where nothing is allowed."

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hinjonOct. 25, 1110:13 PM

@patrickjd...can we apply that same logic to the right? For ever social issue that the GOP tries to pass based on their religious beliefs, can we eliminate 5-10 current social issues they've passed?

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