Abe,

What world do you live in that you believe the policies the Club for Growth Championed were passed into law?

The Bush administration represented was the largest growth in federal spending since LBJ. Rendell has presided over the largest growth in Pennsylvania spending since Milton Shapp. That doesn’t sound like the spending cuts advocated by the Club for Growth.

The Club for Growth opposed Wall Street bailouts, they were passed. They opposed a federal minimum wage hike, it was enacted. They opposed mark-to-market accounting, it was implemented. They opposed using the Community Revitalization Act to push subprime loans, ACORN out lobbied them on that. They opposed increase regulation, but instead we got Sarbanes Oxley and 1,000 new pages of regulation per year under Bush.

The Club supported privatizing Fannie Mae and Freddie Mac – Barney Frank denied there was trouble there. The Club supports expanding free trade – Bush imposed tariffs on steel. The Club supports Social Security and Medicare reform, permanent repeal of the Death Tax, permanent cuts in tax rates, tort reform, and school choice – none of which implement.

The current economic crisis can only be blamed on expansionary government, because policies to expand government were the only policies adopted.
Free markets remain an unknown ideal

http://www.commonwealthfoundation.org/research/detail/free-markets-an-unknown-ideal

The club supports investing in China, Russia, Pakistan, India and anywhere else where capital can reap outsized rewards through child labor and slave labor, pollution and environmental destruction, confiscation of pension assets and outsourcing.

The club opposed the bank bailout but all its members pocketed their share of the loot when the Fed and Treasury dished it out.

The Club for Growth is dedicated to keeping the rich from paying their fair share and instead hoarding wealth. If enacted, their policies would cripple the government providing defense and basic infrastructure, as well stabilizing the economy and helping the poor.

BTW, whenever I used to hear the name, my immediate thought was “Hair Club for Men”.

its kinda sad when we have a Democratic candidate willing to associate himself w this guy (im referring to Joe Sestak, PAL-ING around and drinking beers with Pat Toomey Tunes”)

Interesting tidbit on Sestak, during the UAW crisis at GM i guess he bought a bunch of stock in foreign automakers.

http://blogs.mcall.com/penn_ave/2009/06/with-detroit-ailing-sestak-looked-to-japan.html

Seems he kinda talks out both sides of his mouth a little.

nice to see someone is taking a closer look at Toomeys background. He’s been part of the problem.

[...] Amoros: record always favored Wall St over Main St… [...]

Pat Toomey Tunes… only contributed to ripping people off it seems in the 1980s… you know, his typical Wall Street stuff. Senator Specter on the other hand has been taking a stand against jobs being shipped overseas to China. Pat Toomey would sell them to the next bidder for a “few dollars more”

Club for Growth made laws that forced fannie mae, freddie mac, and other banks to give mortgages to low-income individuals that had no way of paying them back? I knew Barney Frank and Chris Dodd were involved in that scam, but I didn’t realize Pat Toomey also supported these policies that helped destroy the economy. Thanks for informing me of this.

Steve is right, fannie and freddie were the major cause of the collapse. Of coarse let’s not forget the millions of people who bought homes they could not afford. One correction, Prior to the club for growth Toomey was a U.S. congressman, prior to that he own several bars in Allentown. Abe, your Blog does a disservice to legitimate criticism of Wall Street’s part in the collapse.

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