Ed: Posts under "Nom de Plume" are contributions to The Ticker and do not necessarily represent the opinions of The Market Ticker and its owners. To submit an article for consideration, please see the sidebar at the right of the page. Submissions may be edited for size and to correct both grammar and spelling if required.
There are many pundits who have opined that Gary Johnson is an important force in this election, that he offers real choice, and more importantly, that Ron Paul supporters should jump ship to the Libertarian party and vote for The Governor.
But before you do so, let's point out a few inconvenient facts that Governor Johnson doesn't want to talk about.
Such as the fact that in 1995, the year Gary Johnson became Governor, the State of New Mexico spent a total of $8.1 billion; $4.4 billion at the State Government level, $3.7 billion locally.
In 2003, the year he left office, The State spent $7.7 billion and local governments $5.7 billion, for a total of $13.4 billion.
Population went from 1.7 to 1.9 million over the same period.
The alleged Governor Veto wants you to believe he slashed spending and is a model of fiscal restraint. The truth is that state level spending increased by about 7.5% annually over his eight-year term. County and local governments did a better job of restraining spending; their spending advanced by "just" 6.5% annually during the same period.
Population advanced by about 12% over the same period, so don't let Governor Liar tell you this was all population increase; the facts are that he spent 75% more the year he left office than was spent the year he entered it.
Much-more-damning, State GDP went up by 38% during the same period, so in point of fact Governor Fraud advanced state spending twice as quickly as the economy of his state grew in size.
The coup-de-grace though is that State Debt was $1.8 billion in 1995 when Johnson took office. In 2003, when he left, it was a stunning $4.6 billion, or 155% higher. That's right -- the alleged "Governor Veto" more than doubled New Mexico's state public debt during his time in office, adding about 12% a year.
For comparison when President Obama took office total public debt was about $10.6 trillion; today it is about $16 trillion, or 51% higher. That's about a 12% increase annually.
Attention alleged Libertarians: Governor Johnson expanded New Mexico's public debt just as quickly during his adminsitration as President Obama has during his and he did so during a monstrous economic boom rather than a time of recession. He has no record to run on when it comes to fiscal restraint; Johnson did just as much damage to New Mexico's debt profile on a percentage basis as President Obama has nationally!
Governor Johnson is in fact just another big-government promoter that grew spending at twice the rate of the economy of his state and six times as fast as population expanded. He more than doubled the State's public debt load.
He in fact expanded New Mexico's public debt at a rate approximately equal to that of President Obama.
And all of that government expansion came during the "meat" of the tech and Nasdaq boom, a period during which it was easy to expand the economy faster than the government -- if you cared about such things.
So what's Governor Johnson really about?
We know what he's not about -- he's not about cutting the size of government, as under his administration government expanded in size more than six times faster than the population expanded in his state and double the rate of State GDP growth. County and local government agencies under Governor Johnson's administration did a better job of controlling spending (which isn't saying much) than he did.
And yet Governor Johnson claims from the stump he is going to slash the size of the Federal Governmen and get it out of your life.
Or is he? He's not going to get government out of your life when it comes to marriage -- he wants to increase that involvement, by shoving the government's nose in the bedroom of gay people to go along with all the straight couples that are already being abused by big government. Spend a day in a divorce court listening to the guys in black robes trashing people's lives before you tell anyone about how great government involvement is in marriage.
In short Governor Johnson is a liar on all counts. He never reduced spending, he never got the government out of your life, he in fact presided over a 75% expansion in the size of state government in New Mexico which grossly exceeded both GDP and population growth.
Worse, he expanded State Government debt at a rate approximately equal to that of President Obama.
Those are the rather inconvenient facts.
Add all this up and then try to explain why Governor Johnson is running as a Libertarian.
Here's one theory that happens to be mine -- he's angry and, like all who aspire to a position in high office, at least a bit full of himself. Narcissist personalities are part and parcel of high office; you have to tolerate being jacked with for years to obtain the office, and only someone who really likes abusing other people will put up with it. When the Republican Party threw him under the bus for being "too extreme" for their views he decided to get even and found a bunch of willing dupes who were too greedy and inexperienced to realize that they were being played -- the Libertarians. He dangled the carrot of "averred success" in front of them and they chomped on his claim of being a "smaller government" guy who had actually cut the size of government under his administration without taking the five minutes to determine that he was lying to them -- the Libertarian delegates swallowed hook, line and sinker.
Johnson's goal at this point is singular -- to destroy the Republican Party in this election and avenge being told to hit the road. It won't take much either; this election is close and there are a few states where a swing of just a couple of percent will guarantee a Romney loss and Obama second term.
That suits Governor Johnson just fine. He is a true believer when it comes to gay marriage, and Obama will bring that to the fore. Obama, while no particular friend to pot (despite his claims during the 2008 campaign) is certainly more-tolerant of marijuana than a Republican administration would be, so that's a win too. And since Johnson has no problem with growing government -- it grew like a damn weed when he was in office in New Mexico -- Obama's expansion of the size of government is quite ok with him as well since it's about the same rate of increase that Obama has presided over.
At the same time Johnson gets his revenge against those who he believes shut him out, cementing a second Obama term and getting his name in the paper a few times.
That he laid waste any hope of a real third-party choice, trashing the Libertarians' claim to being for "smaller government" (when his record is that he expanded it by 75%) is just tough cookies -- the Libs were too dumb to spend 5 minutes looking at the facts before they nominated him.
Don't be equally dumb before you go to the voting booth or answer a poll.
Where We Are, Where We're Heading (2013) - The annual 2013 Ticker
The content on this site is provided without any warranty, express or implied. All opinions expressed on this site are those of the author and may contain errors or omissions.
NO MATERIAL HERE CONSTITUTES "INVESTMENT ADVICE" NOR IS IT A RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT, INCLUDING BUT NOT LIMITED TO STOCKS, OPTIONS, BONDS OR FUTURES.
The author may have a position in any company or security mentioned herein. Actions you undertake as a consequence of any analysis, opinion or advertisement on this site are your sole responsibility.
Looking for "The Best of Market Ticker"? Check out Ticker Classics.
Market charts, when present, used with permission of TD Ameritrade/ThinkOrSwim Inc. Neither TD Ameritrade or ThinkOrSwim have reviewed, approved or disapproved any content herein.
Market Ticker content may be reproduced or excerpted online provided full attribution is given and the original article source is linked to. Please contact Karl Denninger for reprint permission in other media.
Submissions may be sent "over the transom" to The Editor at any time. To be considered for publication your submission must include full and correct contact information and be related to an economic or political matter of the day. All submissions become the property of The Market Ticker.
Leads on stories of current economic and political interest are always welcome. Our fax tip line is 850-897-9364; please include contact information with your transmission.
User: Not logged on
|Login||Register||Top||Blog Top||Blog Topics||FAQ|
|User Info||The Johnson Deception in forum [Market-Ticker]|
San Antonio, Texas
Draft Denninger 2016.
You can't cheat an honest man. ~P.T. Barnum
|Login||Register||Top||Blog Top||Blog Topics||FAQ|