Governor Rick Perry released the following statement last week regarding federal assistance to state governments. I wholeheartedly agree with the Governors' position, which is why I continue to strongly oppose these endless and unaffordable bailouts:

OFFICE OF THE GOVERNOR

R i c k P e r r y

FOR IMMEDIATE RELEASE
Thursday, December 10, 2008

Washington, DC – Texas Governor Rick Perry issued the following statement regarding the House Appropriations Committee Hearing on a Federal Spending Plan. Governor Rick Perry: “As the House Appropriations Committee takes up the issue of federal assistance to the states, I hope that they will keep in mind the basic laws of economics. Nowhere, in any business, organization or home, is it prudent to pile debt on top of debt. However, the federal government seems to think it operates under a different set of rules, all seemingly intended to increase dependence on its generosity with other people's money.

Every dollar the government taxes and spends is a dollar a family could invest in their children's education or an employer could have used to create more jobs. Pouring those dollars as well as dollars borrowed from future generations into the coffers of mismanaged companies is just bad public policy. This same bailout mentality also fails to justify the rush to mortgage a massive new spending plan for the states onto future generations. Instead of giving away more dollars they don't have or will take from taxpayers, the federal government should press for the best economic stimulus of all: a tax cut.”