The Truth About Jeb Bush And Florida
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2016-02-14 13:58 by Karl Denninger
in Politics , 1021 references Ignore this thread
The Truth About Jeb Bush And Florida*

OK folks, time for some truth.

Jeb claims he was a budget hawk and "cut spending" during his time in office from 1999 to 2007.

Really?

Your definition of "cut" must different than mine Jeb:

 by tickerguy

Incidentally the population of Florida went from 15.76 million to 18.53 million during that time period, or an increase of 18% -- far less than spending increased.

If you want to know why Trump was outright calling Jeb a liar on stage there it is, in numbers.  Jeb is a liar and this sort of crap ought to lead to him being charged and imprisoned for attempted fraud upon the public.

He didn't shrink state spending he basically doubled it.

Now Jeb claims he had a 4.4% economic growth rate.  However, government spending went up at roughly 7%, as anyone with basic knowledge of the Rule of 72 knows is the rate that gets you a doubling in 10 years.

In other words he grew government at a rate almost twice that of the alleged economy, and what's even worse is that he financed a huge part of that on the back of the common Floridian with the housing bubble that blew up right after he left office.

Even the Wall Street Journal admitted to this in July of 2015.

In addition the state's debt went from $15 -> $23 billion, and annual interest payments nearly doubled from $900 million to $1.7 billion.  (Source: Miami Herald)

I lived here the entire time, incidentally.  Jeb's claim that the economy was "booming" was a load of crap.  What we saw during that time was ramping fees and costs, which have not abated (e.g. MidBay Bridge anyone?), massive spending increases and crazy, unconscionable acts by local and county officials (including but not limited to school boards) to try to cover up what they had done -- such as our local system that tried to get the people to pay twice for roof and refrigerator replacements in the schools.  (See, they had not bothered with a sinking fund from tax receipts, so when the inevitable end-of-life came they tried to sucker the people into accepting a sales tax override.  We told them to go screw a goat, and justly so.)

To finance all of this the state encourage and looked the other way while the housing bubble doubled prices on houses, which of course came with ramping real estate taxes -- and all of those houses were built with illegal immigrant labor that paid no taxes and broke the law, yet Jeb's "regulators" in the licensing of said contractors did exactly zero to pull the licenses of all of those builders.

Jeb Bush deserves prison, not the nomination.

Trump was telling the truth last night.  Jeb, on the other hand, was lying through his teeth.

I was here and witnessed all of it, from start to finish, and in any event the math is what it is.

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User Info The Truth About Jeb Bush And Florida in forum [Market-Ticker] *
Bjonsson
Posts: 1753
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The LBC
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Looks like Jeb! was reaping the financial benefits of the housing bubble, and using it to mask a fiscal expansion. Holds about as much water as Clinton touting his "fiscal responsibility" in office when he was really just riding the coat tails of the tech boom.

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Uwe
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KD wrote..
inline

I kinda wish Trump had evidence like this ready to wave around when he says someone is lying.

Maybe I remember Ross Perot's flip charts a bit too fondly. smiley

-Uwe-

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"Corona Virus will come and go, but government will NEVER forget how easy it was to take control of everyone's life; to control every sporting event, classroom, restaurant table, church pew, and even whether you are allowed to leave your house.

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Obseedian
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Diversitopia
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I'm OK with Jeb getting credit for Florida's "growth" caused by cheap credit fueled housing speculation, under one condition: he also gets to take the blame for the inevitable bust that always follows credit bubbles.

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Those who vote decide nothing. Those who count the vote decide everything. - Joseph Stalin
Fedwatcher
Posts: 1973
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Southern California
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The media and the establishment want Hillary and Jeb to be the candidates.

Thus whoever wins can pardon the other and they both escape the greybar hotel.


Maynard
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South Houston
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Curious, what was the deal with 2003?
Health and pension appear to drop off.
Tickerguy
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There's data missing from the database. It didn't actually drop off.

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Bigdaddy63
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Azbob
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Tx
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LOL smiley
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