PETE STARK: "I wouldn't dignify you by peeing on your leg"

One of Pete Stark's Town Hall meetings was held in Fremont, California. Although the media reported that only one person was in opposition to Stark in San Leandro, Fremont was a different story.




A senior citizen told Pete "don't pee on my leg and then tell me it's raining", Pete's reply: "I wouldn't dignify you by peeing on your leg - I wouldn't waste the urine". Not exactly Congressional level behavior in my opinion...




Here is a condensed version of the meeting which gives you a flavor of the questions that opponents and supporters alike asked Stark.

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[sternumagnum]

"STOP SPENDING MONEY WE DO NOT HAVE!" This is a very strong sound bite and a great slogan --but unfortunately has no relation to how Macroeconomics work whatsoever! Sorry, guys, but government *first* spends and *then* collects. If you start a new country and have your new currency, don't you think the money has first to go out there before some portion of it comes back? The people in these meetings are well intentioned but treat state finances like a household's. Which is 100% erroneous.

[cvminutemen]

@sternumagnum

So are you saying that the USA is a "new" country?? I think we've been around long enough to create a spending budget before we spend the money. Nice try...

[RadarGuidedVermin]

@jerico641 Jerico641 likes to abuse young illegals because their parents are less likely to go to the police. He now feels threatened because tough new immigration laws will make it more difficult for him to "score."

[RadarGuidedVermin]

@jerico641  Your comments here have been judged unworthy. POOF, they're gone.

[sushimoustache]

Pete Stark is my hero. I wish I lived in his district.

By the way, what did that first fellow say to Pete to get his dander up like that? I mean besides attributing the rats and mismanagement taking place at the VA under the previous administration to Obama? I notice the video editor clipped out the middle of that interchange.

[scatcoitusmoosic]

pete stark, the most honest politician ever. He should run for president

[dashy654]

Some people don't have drivers license?

[sternumagnum]

@TeaPartyTelevision About the "loans-create-deposits" bit you dispute. You must think only the government controls the money supply, right?

Suppose the government targets some specific limit on some M at, say, $100 billion. And next day, Bigbank happroves a 2 billion dollars loan for your company Newbusiness Inc. You take all that money and deposit it in a checking account. You just bombed the government's M target! That's new money, "printed" the same way the Fed "prints" money.

[sternumagnum]

@cvminutemen The solution out from the crisis is totally clear, in modern monetary theory terms:

The private sector is in deficit; the CA is in deficit (more dollars go out from the US than coming in); ergo, the government sector HAS to go into deficit! And persistently so. If the government cuts spending or increases taxes at this point we'll have inevitably a contraction of the private sector's wealth. And that's a statement above and beyond politics. It's arithmetic. It's accounting.

[sternumagnum]

@cvminutemen 1st, Obama's first year in office carried a 'Bush budget'! 2nd, Clinton inherited to GWB a surplus, which means the priv.sector LOST wealth and increased its indebtness - which was a major cause for the bad performance of US economy during Bush's first term. (And note I'm against most of Dubya's policies!)

3rd The banks are not lending because : they do not trust the ECONOMY; there not many creditworthy customers out there; and many corporations themselves don't want more debt!

[cvminutemen]

@sternumagnum

So what's the solution? Continue down the same road? Obama has outspent Bush by over 2 to 1, and Bush had outspent Clinton by 3 to 1. The reason the financial sector isn't lending is because they don't trust the politicians. Their also tired of govt intervention into everything. Until we see the govt toss stupid things like the ethanol subsidies and cut it's spending on actual "entitlements", NOBODY will have any confidence in them at all.