Waddya know....."R's" admit the Gov't CAN help create jobs..and more

[Sheepshank]

WASHINGTON (AP) — As Texas governor, Rick Perry spent tens of millions in taxpayer money to lure some of the nation's leading mortgage companies to expand their business in his state, calling it a national model for creating jobs. But the plan backfired.

Just as the largest banks began receiving public cash, they aggressively ramped up risky lending. Within four years, the banks were out of business and homeowners across Texas faced foreclosure. In the end, the state paid $35 million to subsidize it.
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That was a year before the mortgage crisis began to escalate, and six months before Perry announced his Countrywide deal. In a speech at the time, Perry called Countrywide a good employer and said state government subsidies would help other such companies move their businesses to Texas.

Just three short paragraphs...and so much that is wrong with the Reps austerity platform. All that bluster...and the reality is that they do realize Gov't can be instrumental in creating jobs when it's done right. It's pretty clear they just don't want Obama to create jobs. On to the other side of this story...using tax payer money on financing their corporate money lending overlords, and then bailing them out after croaking about TARP? Wow, what hypocrits.

Perry is well done roasted imo.