South Carolina Governor Mark Sanford articulates the Republican position on the democrat party Porkulus:
A problem that was created by building up of too much debt will not be solved with yet more debt,â€ Gov. Mark Sanford said Sunday, making a reference to the federal deficit spending that will likely finance the federal stimulus package.
â€œWeâ€™re moving precipitously close to what I would call a savior-based economy,â€ Sanford also said Sunday on CNNâ€™s State of the Union.
The South Carolina Republican said such an economy is â€œwhat you see in Russia or Venezuela or Zimbabwe or places like that where it matters not how good your product is to the consumer but what your political connection is to those in power.â€
â€œThat is quite different than a market-based economy where some rise and some fall but thereâ€™s a consequence to making a stupid decision,â€ Sanford said after pointing to the powers granted to the Treasury Department and the Federal Reserve to help deal with the current economic crisis.
â€œA lot of people whoâ€™ve made some very stupid decisions are being bailed out by the population at large,â€ he added.
Instead of bailing out failing companies, Sanford told CNNâ€™s John King that the government should let the economy work through the current challenges without intervention.
â€œWeâ€™re going to go through a process of deleveraging,â€ Sanford said. â€œAnd it will be painful. The question is: Do we apply a bunch of different band aids that lengthen and prolong this pain or do we take the band aid off? I believe very strongly: letâ€™s get this thing over with, letâ€™s not drag it on.â€