TMac on economic growth

Once-and-future Democratic candidate for governor, Terry McAuliffe, shared the op-ed page of The Virginian-Pilot with me today with this article on economic growth.  Interesting that the newspaper didn’t identify him that way 😉

Equally interesting to note is that a 2013 gubernatorial candidate doesn’t rate a link in the VPAP clips. (Yes, I’m going to keep banging away at them for restricting content until they figure out how to open it up to be more inclusive.)

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3 thoughts on “TMac on economic growth

  1. They are re-paving 395 as we speak. I didn’t even know that was planned without the HOT lanes. But it is fantastic! Maybe they will finally fix those potholes on the south bound lanes after the 14th St Bridge 10 years after I moved here.

    They are just doing the North bound lanes as far as I can tell. It is still fairly poor on the South bound lanes. I don’t think I should have to pay personal property tax on my vehicle if Virginia is intent on ruining my suspension. Ah, but if wishes were fishes…

    I’d also like them to remove the speed limit on the freeways. Who do I talk to about that?

  2. Would that be H.R.12, which has no cosponsors, or H.R.2911, which has four?

    Anyway, for those 10,000 VA jobs that would supposedly be created, how many would be destroyed? There is no magic. The money must be taken out of the economy either through taxes or bonds.

    If the purpose of this act is to get people working, more money should go to States with higher unemployment, not Virginia. If more money is going to other States (and more taxes coming out of Virginians), and if TMac’s primary concern is Virginia, should he not oppose the president’s bill and instead push to have Virginia sell bonds to fund these projects?

    The same can be said about the “Teacher Stabilization” and “First Responder Stabilization” sections. And the “School Modernization” section, too. Virginia is on the losing end of such transfers. We pay more in taxes, and get less from this bill, than most States.

    Does TMac really not know where the money comes from?

    1. How do government bonds take money out of the economy when the government is competing with no one? Businesses and individuals are not spending. So, what is lost by the government borrowing to spend? 10-Year Treasuries are yielding 2 percent or lower. If I could get 2% interest on all my debt, I would be racking it up like crazy.

      As to VA not getting any benefit, that is quite a myopic view. Without government spending, Northern Virginia and Hampton Roads would not exist as they do today. And by virtue of these two regions, neither would Richmond. And the Virginia economy is essentially these three areas.

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