$20M for Memorial Bridge, Guinta Opposed Grant

In the interest of completeness. (0.00 / 0)

Any budget, which is a plan for spending, can be balanced with borrowed funds.  Borrowing money for capital improvements is a long-standing tradition.  Investors, particularly like to subscribe to state and municipal bonds because the interest they earn is guaranteed, provides a steady trickle into their pockets AND is exempt from the federal income tax.  So, a two-fer.  Not to mention that fees to consultants and bond brokers that go with each issue and revised issue.  
The opponents of "tax and spend" have an alternate preferred agenda, "lend and spend."  There's always a preference for the components of their equations to be on opposite teams.  So, for example, in cost/benefit, the costs accrue to the public and the benefits accrue to the private sector.  That's how the 98% get poorer and the 2% get richer automatically/magically, without anyone having to do anything.

Also, the main objection to the stimulus by Republicans was based on the fact that Washington was handing out grants of money for projects that would normally be bonded.  In other words, the financial sector was not getting its cut.  Add that to the fact that the banks had been deprived of the student loan program's guaranteed revenue, they were looking at a double whammy -- not a nice alternative to the two-fer they prefer.  And then there's the potential that the insurance industry will no longer have as much surplus to funnel to Wall Street. It's not hard to see why Obama is not in favor.

If, indeed, Republicans make inroads on Congress, there is little for them to do since the legislation cannot be reversed and the administration is going to use the next two years to develop rules and regulations to implement the laws.  If they want to invite Obama to capitol hill, I'm sure he'll be glad to come.

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by: hannah @ Fri Oct 15, 2010 at 14:03:46 PM CDT

NH = (4.00 / 1)

Manchester.  Federal money is OK for Manchester, but not that foreign place that votes for Democrats.

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by: Lucy Edwards @ Fri Oct 15, 2010 at 14:43:19 PM CDT

Just think Japan too (4.00 / 1)

Guinta doesn't read Paul Krugman of course, but he could brush up on Japan's failure to stimulate its economy in the 1990's.

Not to mention the obvious merits of a bridge for heaven's sake.

What the right won't acknowledge is the huge loss of wealth when economies like Japan stagnate.

If he's so concerned about the private sector he would do well to study a little history,

Of course that doesn't fit the narrative of magic.

( To borrow a term from Lucy) . These people think that with no taxes and public investment everything will just end up swell.

In my three years of writing at NH Insider ( a right wing web site) I never once saw anyone on the right do any research that didn't fit their simplistic worldview.

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by: Chaz Proulx @ Fri Oct 15, 2010 at 16:18:01 PM CDT

last time I checked... (0.00 / 0)

Even though there is some controversy about where the state line is, last time I checked, Kittery was in Maine and Portsmouth was in New Hampshire.  That makes the Memorial Bridge a federal issue.  

Also, federal highways go over all three bridges connecting Portsmouth and Kittery.  Moreover, the Memorial Bridge serves the Portsmouth Naval Shipyard.

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by: TimothyHorrigan @ Fri Oct 15, 2010 at 17:51:35 PM CDT

But he supports renaming it the Judd Gregg Bridge! (0.00 / 0)

2012 starts today.

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by: Ray Buckley @ Fri Oct 15, 2010 at 18:08:35 PM CDT

and if people lose jobs (4.00 / 1)

and businesses close down - that's just tough. We have to bring the budget into balance.  

sanctimonious purist/professional lefty

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by: susanthe @ Fri Oct 15, 2010 at 19:01:06 PM CDT

What is the Job of a Representative? (4.00 / 1)

Why is it that Frank Guinta doesn't understand the role of a Congressman which is to represent his/her district?  Getting funding to replace the Memorial Bridge is part of the job.  Who is he planning on representing, us or the out-of-state special interests groups that are funding his campaign?  Why should anyone vote for this guy?

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by: ProfessorMike @ Fri Oct 15, 2010 at 20:24:21 PM CDT

I can hear Republicans (0.00 / 0)

Bill Young and Thad Cochran laughing at Guinta from here.  These two guys lead the league in raking in earmarks with a combined $625 million.  Compare that to Carol's $2.3 million (solo) and about $48 million with others.

I don't see Republicans giving these earmarks up without a knife fight.  Hope Guinta's Blackberry is charged.

"Physical concepts are free creations of the human mind, and are not, however it may seem, uniquely determined by the external world." A. Einstein

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by: StraffordDem @ Fri Oct 15, 2010 at 21:18:35 PM CDT

Frank Guinta is all alone. (0.00 / 0)

In announcing the visit of LaHood, Republican Sens. Olympia Snowe and Susan Collins of Maine said the funding validates the hard work of their office and the entire Maine and New Hampshire congressional delegations.

"This is terrific news," said Collins, a member of the Senate Appropriations Subcommittee on Transportation. Collins arranged for a top U.S. DOT official to visit the area earlier this year. "I am delighted that the DOT has agreed to help fund this project."

"I could not be more pleased that the DOT has awarded this vital funding to Maine and New Hampshire, that will make fantastic strides toward repairing this crucial piece of our transportation infrastructure spanning the two states," said Snowe, a senior member of the Senate Commerce Committee.

http://www.seacoastonline.com/...

birch, finch, beech

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by: Dean Barker @ Sat Oct 16, 2010 at 05:18:32 AM CDT

I see Tea Party challenges next door, coming soon. n/t (0.00 / 0)

"Physical concepts are free creations of the human mind, and are not, however it may seem, uniquely determined by the external world." A. Einstein

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by: StraffordDem @ Sat Oct 16, 2010 at 06:51:08 AM CDT

[ Parent ]

Where's John Stephen on this? (0.00 / 0)

Does he agree with Guinta - would he demand that New Hampshire taxpayers pay the $20 million on their own?

Or does he think Guinta's approach would hurt the state?

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by: elwood @ Sat Oct 16, 2010 at 05:58:31 AM CDT

Does Chris Sununu? (4.00 / 1)

Does Russ Prescott? Nancy Stiles? Fenton Groen? Angerhoffer?

2012 starts today.

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by: Ray Buckley @ Sat Oct 16, 2010 at 07:31:07 AM CDT

[ Parent ]