I was reading an article about how Rick Perry wants to dismantle social security and medicare, which I already knew, but then i ran across this gem.
And Perry thinks TARP was a total mistake—along with all subsequent efforts to backstop or stimulate the economy. Instead, he prefers an entirely laissez-faire approach to job-destroying financial crises. "I think you allow the market to work its way through it," he says. "I don’t understand why the TARP bill exists. Let the processes find their way.
Oh, what does he call his Texas Enterprise Fund? Bwahahah.
Summary of Achievement
The Texas Enterprise Fund (TEF) provides the state’s leaders with a “deal closing fund” that has the flexibility and financial resources to help strengthen the state’s economy. The fund can be used for a variety of economic development projects including infrastructure and community development, job training programs and business incentives. Before funds can be awarded, the governor, lieutenant governor and speaker must unanimously agree to support the use of the TEF for each specific project.
The TEF is used primarily to attract new business to the state or assist with the substantial expansion of an existing business as part of competitive recruitment. State leadership will also be able to use Enterprise funds to leverage other resources for an economic development project.
To be eligible for TEF support, a project must demonstrate a significant return on the state’s investment and strong local support. The review process will consider a variety of factors, including job creation and wages, capital investment, financial strength of the applicant, applicant’s business history, analysis of the relevant business sector, and public and private sector financial support.
Let's just see how well that worked, shall we? Here's from the DMN Jan 2010
AUSTIN - A growing number of companies that received $363 million in public funds to move to Texas or expand are falling short of the number of jobs they promised to create, raising questions about the value of the high-profile deals in a recession-plagued economy.
Aides to Gov. Rick Perry say Texas continues to weather the nation's economic storm better than the rest of the country. But they acknowledge that the results of the incentives provided by the governor's signature jobs program, the Texas Enterprise Fund, are wavering.
A report released Wednesday by Texans for Public Justice, a research and advocacy group, says that since the recession hit in 2008, Perry's office hammered out amendments to six deals with companies so they wouldn't be in danger of violating the terms. From 2003 to 2007, Perry amended just one contract.
"His office has quietly redefined success," the study says.
On the eve of the study's release, the governor's office announced that the total of amended contracts had reached 11.
I just love the *Quietly Redefined Success. In other words, GAMED the numbers down.
Now, read this for an eyeopener about how much Poor Poor Hypocrite Rick Perry just Wants the Market To Do its Jobs , without Stimulus- Countrywide.
UPDATE: This is a flip flop for Rick Perry. He actually was FOR TARP before he was against it. Maybe Perry needs to add this to his apology tour. And here is Rick Perry's letter begging Nancy Pelosit to pass it.
Prophet Rick Perry is a JOKE.
P.S. The other day Rick Perry told the Iowa Corn Growers Association that "The federal government doesn't need to pick winners and losers" (context was about ethanol). Made me laugh. AS IF that's not what Rick Perry is doing with TEF!!!!!! Bwahahahahah.