State of Pennsylvania Archives: on Budget & Economy


Tom Smith: Stagnant economy due to over-regulation & complex taxes

So what prompts a successful 64-year-old businessman who should be enjoying his retirement to take on one of Pennsylvania's most formidable politicians? "The three major issues that people want to talk about right now are what got me into this," Smith says, "That's the economy being stagnated, the lack of jobs, and deficit spending and the national debt."

He hears those concerns echoed in countless meetings across the state, as workers and business owners share their frustrations about the economy, and about Washington adding to those burdens. "Businesses are scared to expand right now," Smith says. "It's understandable. I lived that."

After 20 years running mining operations, Smith knows that businesses need consistency to expand and flourish: in energy prices, regulations, and tax policy. It just isn't there today. An overly complex tax code also hurts, Smith says.

Source: Philadelphia Inquirer on 2012 PA Senate debate Sep 23, 2012

Marc Scaringi: We need a balanced budget amendment

Each of the candidates thought the federal debt is the nation's greatest threat. Welch called for a balanced budget amendment and term limits for lawmakers. "It should be a privilege to serve, not a road to riches," he said.

"We need a balanced budget amendment. That is really the only way we have to stop career politicians to spend us to bankruptcy," Scaringi said. He called for elimination of those agencies that harm the economy and are not supported by the Constitution.

Source: Williamsport Sun-Gazette on 2012 PA Senate debate Mar 23, 2012

Joe Sestak: Auto & bank bailouts were to clean up Bush's mess

The two men traded jabs on economic issues. "We can't borrow and spend our way to prosperity, otherwise Greece would have the best economy in the world," said Toomey, founder of a small chain of family restaurants and a former Wall Street trader. He said Sestak did not understand how to create jobs, criticizing his rival's votes for the financial-industry bailout and rescues of General Motors and Chrysler, as well as the stimulus.

Sestak said he had to clean up the mess left behind by irresponsible spending and tax-cutting under President George W. Bush. "We'd been torpedoed and had to caulk the holes," he said.

The two actually agreed that the tone of their race had grown negative, but neither accepted blame for it. Both defended their ads as issues-based and accurate.

Source: Philadelphia Inquirer coverage of 2010 PA Senate debate Oct 23, 2010

Pat Toomey: We can't borrow and spend our way to prosperity

The two men traded jabs on economic issues. "We can't borrow and spend our way to prosperity, otherwise Greece would have the best economy in the world," said Toomey, founder of a small chain of family restaurants and a former Wall Street trader. He said Sestak did not understand how to create jobs, criticizing his rival's votes for the financial-industry bailout and rescues of General Motors and Chrysler, as well as the stimulus.

Sestak said he had to clean up the mess left behind by irresponsible spending and tax-cutting under President George W. Bush. "We'd been torpedoed and had to caulk the holes," he said.

The two actually agreed that the tone of their race had grown negative, but neither accepted blame for it. Both defended their ads as issues-based and accurate.

Source: Philadelphia Inquirer coverage of 2010 PA Senate debate Oct 23, 2010

Joe Sestak: Deregulation of banks led to the economic meltdown

Sestak blamed Toomey, who was a member of Congress from 1998 through 2004, for supporting the Bush tax cuts and deregulation of banks and brokerages, which he argued helped lead to the economic meltdown.

"I learned in the Navy to expect what you inspect," said Sestak, a retired admiral who served for 30 years in the Navy before being elected to Congress in 2006. "Even little league football has a referee on the field. He [Toomey] removed the referee from Wall Street."

Toomey said he admired Sestak's creative mind, but said his opponent did not understand the financial system. The real threat to the economy, he said, is in the billions of dollars spent on bailouts for banks and the auto industry, along with the economic stimulus and now a health-care regime that he said were all pushing the deficit to stratospheric levels. "Some people believe if you are productive and successful you should get soaked and get soaked hard. I just don't believe in that," Toomey said.

Source: Philadelphia Inquirer coverage of 2010 PA Senate Debates Apr 12, 2010

Pat Toomey: Real threat to economy is billions on bailouts

Sestak blamed Toomey, who was a member of Congress from 1998 through 2004, for supporting the Bush tax cuts and deregulation of banks and brokerages, which he argued helped lead to the economic meltdown.

Toomey said he admired Sestak's creative mind, but said his opponent did not understand the financial system. The real threat to the economy, he said, is in the billions of dollars spent on bailouts for banks and the auto industry, along with the economic stimulus and now a health-care regime that he said were all pushing the deficit to stratospheric levels. "Some people believe if you are productive and successful you should get soaked and get soaked hard. I just don't believe in that," Toomey said. He said productive companies and entrepreneurs create jobs. "We need to prevent this radical Democratic agenda, get spending under control, and cut taxes where we can, and we'll see the economy come roaring back," he said.

Source: Philadelphia Inquirer coverage of 2010 PA Senate Debates Apr 12, 2010

Pat Toomey: Strengthen economy via lower taxes & less spending

Sestak and Toomey had agreed to debate on the economy, although only about half of the questions from the audience focused on that topic. "Well, it all relates to the economy," one audience member noted.

The two candidates found some common ground on questions geared toward the economy. Both said federal spending needs to be reduced.

"When I was (in Congress) I was fighting against the spending that was going on," said Toomey.

Sestak said he would like to see the government extend help to the group he says drives the economy--"The working family, not Wall Street"--by getting tax cuts to that group.

Sestak said he does not support the flat tax as he said Toomey does, and the government should look to guarantee community bank loans to entice borrowers.

Toomey said he believes in strengthening the economy through lower taxes, less spending and increasing domestic energy production.

Source: The Express-Times coverage of 2010 PA Senate debate Apr 11, 2010

  • The above quotations are from Commonwealth of Pennsylvania Politicians: Archives.
  • Click here for definitions & background information on Budget & Economy.
  • Click here for other issues (main summary page).
2016 Presidential contenders on Budget & Economy:
  Democrats:
Secy.Hillary Clinton(NY)
V.P.Joe Biden(DE)
Gov.Andrew Cuomo(NY)
Mayor Rahm Emanuel(IL)
Gov.Martin O`Malley(MD)

Republicans:
Amb.John Bolton(MD)
Gov.Jeb Bush(FL)
Dr.Ben Carson(MD)
Gov.Chris Christie(NJ)
Sen.Ted Cruz(TX)
Gov.Mike Huckabee(AR)
Gov.Jon Huntsman(UT)
Gov.Bobby Jindal(LA)
Rep.Peter King(NY)
Gov.Sarah Palin(AK)
Sen.Rand Paul(KY)
Gov.Rick Perry(TX)
Sen.Rob Portman(OH)
Secy.Condi Rice(CA)
Sen.Marco Rubio(FL)
Rep.Paul Ryan(WI)
Sen.Rick Santorum(PA)
2016 Third Party Candidates:
Mayor Michael Bloomberg(I-NYC)
Gov.Gary Johnson(L-NM)
Donald Trump(NY)
Gov.Jesse Ventura(I-MN)
Please consider a donation to OnTheIssues.org!
Click for details -- or send donations to:
1770 Mass Ave. #630, Cambridge MA 02140
E-mail: submit@OnTheIssues.org
(We rely on your support!)

Page last updated: Mar 29, 2014