{"id":1301,"date":"2009-02-12T10:58:18","date_gmt":"2009-02-12T15:58:18","guid":{"rendered":"http:\/\/www.scpronet.com\/wordpress\/?p=1301"},"modified":"2009-02-12T10:58:18","modified_gmt":"2009-02-12T15:58:18","slug":"demint-short-selling-us-economy","status":"publish","type":"post","link":"https:\/\/www.scpronet.com\/wordpress\/2009\/02\/12\/demint-short-selling-us-economy\/","title":{"rendered":"DeMint short-selling U.S. economy"},"content":{"rendered":"

By S.C. Sen. Brad Hutto (D-Orangeburg)<\/strong><\/p>\n

As the nation struggles with its worst economic crisis since the Great Depression some in Washington, D.C., are fighting a rear-guard action to block the President Obama\u2019s stimulus plan.<\/p>\n

And among them, U.S. Sen. Jim DeMint, is jockeying to become leader of the heel-dragging pack.<\/p>\n

This professional ad man knows the importance of burnishing his brand. He has become a stock fixture on the national media circuit. If you need someone to defend the failed economic policies of former president George Bush, schedule Jim DeMint for your show.<\/p>\n

DeMint\u2019s ideas sound good to a dwindling number of true-believers who think tax cuts can solve any problem and that magical forces will repair an economy in disarray without public intervention.<\/p>\n

What\u2019s becoming increasingly apparent is that DeMint is not only out of step with Democrats and moderate Republicans, but that he is also out of touch with the real world \u2013 the one where South Carolinians live.<\/p>\n

DeMint on Tuesday voted against the American Recovery and Reinvestment Act, which fortunately passed the Senate with a 61-37 vote. The stimulus package is designed to get money into the economy quickly through spending projects to save or create 3 million U.S. jobs over the next four years. The version passed by the House Jan. 28 included $3.2 billion for South Carolina\u2019s needs from road repairs to college tuitions.<\/p>\n

On ABC\u2019s “This Week with George Stephanopoulos” Feb. 1 DeMint joined a conversation that also included U.S. Rep. Barney Frank, D-Mass., and two chief executives \u2013 FedEx\u2019s Fred Smith and Google\u2019s Eric Schmidt.<\/p>\n

Google has particular interest for South Carolinians. The company recently opened a computer data center in Berkeley County, and has bought land in Richland County, where it might open another \u2013 if demand is there.<\/p>\n

But DeMint thought he should lecture the chief executive of one of the most successful American companies about economics, trotting out studies from the conservative Heritage Foundation that favors tax cuts over direct public spending.<\/p>\n

Schmidt, a soft-spoken man who measures his words carefully, replied, \u201cI’m worried that tax cuts alone \u2026 won’t be sufficient because people are not paying any taxes because they’re not making any money.\u201d<\/p>\n

\u201cThere are plenty of cases where directed spending does help things to happen more quickly,\u201d Schmidt said. \u201cMost of the [stimulus package] money actually goes to reasonably short-term things in education, state relief, various other things that help people in the very short term. Some combination of all that money has got to get out now to get people going again.\u201d<\/p>\n

Schmidt and Smith, the FedEx chief executive, shared one message: Congress needs to act quickly to get the economy moving. \u201cI’m sure this stuff is going to get fixed by you guys, because you’re working very hard on it,\u201d Schmidt said.<\/p>\n

\u201cI wouldn’t count on it,\u201d DeMint replied.<\/p>\n

This is not the first time DeMint has made such comments.<\/p>\n

In a column that ran Jan. 22 in The State he warned Republicans against helping President Obama pass a meaningful stimulus plan. \u201cShould the bill fail to revive the economy, its bipartisan character would inoculate the new president from sole responsibility for what Republicans could otherwise brand \u201cThe Obama Recession.\u201d<\/p>\n

DeMint is using one of South Carolina\u2019s seats in the U.S. Senate to act like a hedge fund manager \u2013 trying to lure citizens and donors to bet that the economic failure his party created will worsen.<\/p>\n

South Carolinians can\u2019t afford to be so cynical.<\/p>\n

Hutto represents Allendale, Bamberg, Barnwell and Orangeburg counties. He can be reached at <\/em>CBH@scsenate.org.<\/p>\n","protected":false},"excerpt":{"rendered":"

By S.C. Sen. Brad Hutto (D-Orangeburg) As the nation struggles with its worst economic crisis since the Great Depression some in Washington, D.C., are fighting a rear-guard action to block the President Obama\u2019s stimulus plan. And among them, U.S. Sen. … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-1301","post","type-post","status-publish","format-standard","hentry","category-network-newsevents"],"_links":{"self":[{"href":"https:\/\/www.scpronet.com\/wordpress\/wp-json\/wp\/v2\/posts\/1301","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scpronet.com\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scpronet.com\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scpronet.com\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scpronet.com\/wordpress\/wp-json\/wp\/v2\/comments?post=1301"}],"version-history":[{"count":1,"href":"https:\/\/www.scpronet.com\/wordpress\/wp-json\/wp\/v2\/posts\/1301\/revisions"}],"predecessor-version":[{"id":1302,"href":"https:\/\/www.scpronet.com\/wordpress\/wp-json\/wp\/v2\/posts\/1301\/revisions\/1302"}],"wp:attachment":[{"href":"https:\/\/www.scpronet.com\/wordpress\/wp-json\/wp\/v2\/media?parent=1301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scpronet.com\/wordpress\/wp-json\/wp\/v2\/categories?post=1301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scpronet.com\/wordpress\/wp-json\/wp\/v2\/tags?post=1301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}