State of Maryland Archives: on Budget & Economy
Federal Reserve is over-leveraged, like in 2008 crash
We seem to be at the beginning of the economic collapse predicted by many for 2016. The predictions call for a collapse worse than 2008. There are trillions of dollars more in high risk investments and central banks are over-leveraged. After central
banks shifted trillions to wealthy businesses after the last collapse, they are now in a weaker position to respond to the next collapse. The Federal Reserve is leveraged at 78 to 1, for comparison Lehman Brothers was at 30 to 1 when it triggered the
The US commodities markets are at depression-era levels not seen since 1938. Wholesale sales collapsed creating an inventories-to-sales ratio that is the highest since 2008's crisis and as high as the worst in the 2001 recession. The ris
Source: 2016 Maryland Senate campaign website FlowersForSenate.org
Feb 3, 2016
Tax reductions & regulatory reforms to help job creators
Ladies and gentlemen, it is time for us to listen to Maryland's hard working taxpayers and our job creators. The people of Maryland simply cannot afford for us to continue on the same path of more spending, more borrowing, more taxes, and politics as
usual. It is time for a new direction for Maryland. Our administration will work to enact the necessary budgets, tax reductions, regulatory reforms, and legislation that is necessary, to ensure that we turn our economy around.
Source: State of the State address to 2015 Maryland Legislature
Feb 4, 2015
- High taxes, over-regulation, and an anti-business attitude are clearly the cause of our economic problems.
- 40 consecutive tax hikes have taken an additional $10 billion out of the pockets of struggling Maryland families and small businesses.
- We've lost more than 8,000 businesses, and Maryland's unemployment nearly doubled.
- We're number three in the nation in foreclosures, and dead last in manufacturing.
Morally wrong to spend more than government takes in
It is morally wrong and irresponsible for our government to continue to spend more than it takes in. As individuals and families, we have to work within our budget, and so should our government. We must cut programs that don't work, but ensure that we
don't leave people who need them without safety nets. I oppose "across the board cuts" because they too often destroy the very goals we are seeking to achieve. Every department's budget must be reviewed to maximize efficiencies.
Source: 2012 Senate campaign website, www.sobhaniformaryland.com
Oct 15, 2012
Page last updated: Feb 28, 2017