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First Read is an analysis of the day's political news, from the NBC News political unit. First Read is updated throughout the day, so check back often.

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Mark Murray, NBC Deputy Political Director

Domenico Montanaro, NBC Political Researcher



Huckabee decries 'eBay' presidency

Posted: Friday, December 07, 2007 3:21 PM by Domenico Montanaro

From NBC/NJ's Adam Aigner-Treworgy
CHARLOTTE, NC -- Although he didn't address the growing controversy over his involvement in the parole of Wayne Dumond, Huckabee did speak with the media this morning following a fundraiser here, weighing in on the president's plan to help sub-prime borrowers and his opponents' attempts to, as he claims, buy the presidency.

Huckabee first commended the president for not using any taxpayer money in his proposed solution to help out sub-prime borrowers saying, "I'm glad that the president did not use the tax payers' money to try to fix this because this is not a tax payers' obligation. People have to take responsibility for financial decisions they've made. You know, that's tough.

"What the president did was simply say this was a transaction between borrowers and lenders and let's see if they can create some reasonable ways to keep their transaction alive, but not at the expense of taxpayers. That was a good move on the president's part."

When asked about criticisms that despite a recent surge in the polls Huckabee hasn't seen enough of an increase in donors to compete nationally, the former governor and newly minted frontrunner dismissed the claim. He said that his campaign had between $2 million and $3 million in the bank, and that he has "raised more money in November than we have in the previous 11 months combined."

"Here we are at the top of the polls nationally," Huckabee continued, arguing that his success with such little money is actually indicative of the American people's distaste for money in politics. "Now how did we do that? Did we do it because we bought our way into it? No, we did it because there are a whole lot of American people who don't want to put the presidency up for sale. If they do they might as well put it on eBay."

Huckabee's campaign has spent just a fraction of the money spent by his competitors, and he now claims that finding success with so little money has taught him the fiscal discipline necessary to be president.

"I would suggest that the discipline that we've learned by not having a lot of money is exactly what a lot of Americans are wanting to see not just in a candidate," he said, "but in a president who would lead this country to a same kind of frugal budget management that they have to in their own homes. And when they see people running for president throwing money at everything and everybody they're saying, 'If they'll do that with a campaign what on earth would they do if they had the federal treasury to spend.'"

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This is yet more evidence that Huckabee is, for lack of a better word, an idiot. Bush's fix helps people who weren't creditworthy stay in debt, undermines binding contracts between adults, and removes risk for lending institutions. It's silly how people claiming to believe in a free market so quickly look for government interdiction when the corrective aspect of the economic system periodically rears it head.
Huckabee is already beating Obama in a newly released Survey USA poll...
Obama is an Oprah candidate, he is toast in general election...

Clinton Rudy
48 44
Clinton Romney
51 41
Clinton Huckabee
47 45
Clinton McCain
43 51

Obama Rudy
43 46
Obama Romney
45 42
Obama Huckabee
41 44
Obama McCain
40 51


This was the guy who raised taxes in the millions as gov of Arkansas.
If as Huckabee says, the discipline of running on limited funds produces more fiscally responsible candidates then it sounds like a good argument for campaign finance reform that reins in the spending.
When for crying out loud will the crap about Huckabee and tax increases finally end?  Did taxes in Arkansas increase 47% during the 10 years he was governor?  Yes, of course, matter of record.  But does anyone out there understand the concept that a State cannot just print money to cover its deficits, as the federal government can?   If you are a state, you either raise taxes or cut services, its that simple.   Even more so in Arkansas where the state constitution mandates a balanced budget.   So yes, taxes did increase 47% in Arkansas from 1996-2006.   But the average increase in taxes at the state level, over that exact same time period, was about 90%.  I'd say that when you take all the important relevant factors into account, that's a pretty darn good conservative tax record!
Mike- correct me if I'm wrong, but I understood that the "bailout" only helped those who were not yet late on their mortgage payments and had enough money to make the payments at the current interest rate.  That's not such a bad thing, as far as I can tell.

Also, how much can you increase taxes if you go to the fair tax system.  23% sales tax and no state/fed taxes to bite you in the butt at the end of the year sounds pretty good to me.  Plus Congress wouldn't have quite as many places to hide their pork.  
"Growing Controversy over the Dumond Case"??? Please, it is an OLD controversy that was brought back up the moment Mike Huckabee began to lead in the polls, and addressed ad nauseum 10 years ago and again this week on various other stations that were willing to ask for his response.  As far as his tax record, It stands for itself---quite favorably, if one truly wished to investigate it, and not merely regurgitate factoids---and when compared to others in the race comes out as a shining example of exactly what a Conservative Republican can accomplish in a Democratic State--with a Democratic Legislature. Veritcal Politics, get it?
"Laura, Savannah, GA", I like the idea of a consumption based tax. My comment was in regard to the "bailout".

"...only helped those who were not yet late on their mortgage payments and had enough money to make the payments at the current interest rate.  That's not such a bad thing, as far as I can tell."

It's bad because they agreed to the conditions of their contract in bad faith; they assumed home values cannot drop and that would allow them to "buy" more than they could afford. The contracts did not say that their low, starter rates were in perpetuity.

The lenders were playing the same game based on an ever-rising housing market. They disregarded traditional scrutiny because they were blinded by greed.

It all disregards and rewards irresponsibility by the government (Greenspan slashing Fed rates to smooth over the dot com bubble bursting), lenders, and borrowers. The government, lenders, and borrowers were all gambling and lost. I don't pity that kind of foolishness.
When it comes to Huckabee and taxes, you only need to know one thing - FairTax.  Learn more at www.fairtax.org
Mike:  How did they not understand that the rates would change?  That's why it's called an Adjustable Rate Mortgage!  I call BS on a significant majority of these people who say they didn't know housing values could go down,  that rates would change, et cetera.  These people were very irresponsible and greedy, trying to live far beyond their means.  They obviously didn't read into their contracts, do any kind of research, or anything else a responsible person would do before purchasing a house and entering into legal contracts.  I can't say that I feel particularly sorry for them.  I am, however, disgusted at the idea of bailing them out.  It's a huge slap in the face for all the people who were responsible with their money and didn't go beyond their means or jump into those "too good to be true" deals they saw advertised.  

Any sort of bailout for the purchasers is just another excuse to keep people from having to take responsibility for their own actions and suffer the consequences accordingly.  

I also don't think there should be any kind of bailout for the lenders.  They were throwing money at people they had no business giving it to, those with bad credit and inadequate incomes.  They weren't acting responsibly either.  


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