Previously Democratic Governor (NH); candidate for Senate 2008
Bush-Sununu self-regulation policy led to financial meltdown
Shaheen said the financial meltdown is a "function of the Bush-Sununu policy." The Democrat blamed Bush & Sununu for failing to provide oversight of Wall Street, letting financial institutions self-regulate, & for ignoring predatory lending practices.
"Where has John Sununu been on those issues? He's been in Washington for 12 years--5 years on the Banking Committee," she said. "He's been missing in action when it came to cracking down on those practices that led us to the crisis that we're in today."
In response, Sununu's campaign maintained Shaheen is the "last person N.H. needs in an economic crisis" because her "first inclination" is to raise taxes. Shaheen seems to anticipate the tax-and-spend criticism. She said she balanced three budgets when
she was governor and when revenues were lagging, she cut spending.
Sununu has been promoting three priorities: protecting taxpayers' interests, implementing strong oversight of regulatory markets and promoting policies that encourage long-term growth.
Lack of oversight caused financial crisis; regulation needed
Sununu worked aggressively to carve out a pro-taxpayer position and cited his previous calls for stepped-up regulation of a key mortgage player.
Jeanne Shaheen countered that "the lack of oversight and the lack of accountability that
George Bush and his allies like John Sununu in the Senate supported have really brought us to where we are today." She pushed for tighter regulations and liquidity-disclosure requirements as well as a consolidated oversight system.
Sununu parried back aggressively, telling how he had long sought to beef up regulation for Fannie Mae and Freddie Mac, the ailing public-private mortgage finance companies seized by the government this month. "That's an issue where
I've led the effort not just in the past year, but going back five years," Sununu said. He also said taxpayers should be kept off the hook for Wall Street's failures.
Crack down on no-bid contracts; limit pork barrel spending
Washington is borrowing more and more from China and India, saddling our grandchildren with billions and billions in debt, because of runaway spending and giveaways to special interests. As Senator, Jeanne Shaheen will insist we stop the corruption,
crack down on no-bid contracts, make every member of Congress put their names on any pork barrel spending they support, and get back to fiscal accountability.
Source: Campaign website, www.jeanneshaheen.org, "Issues"
Mar 2, 2008
Regional transportation network to foster trade & economy.
Shaheen signed the New England Governors' Conference resolution:
WHEREAS the Conference of New England Governors and Eastern Canadian Premiers encourages initiatives furthering economic cooperation and trade development within the region; and
WHEREAS the Conference recognizes the vital importance of effective and efficient transportation links in furthering economic cooperation and trade development; and
WHEREAS improvement in the road, rail, marine, and air transportation links between the Eastern provinces and the New England states would contribute to a better and more integrated transportation system, and that transportation services would benefit from better harmonized, simplified and efficient standards and regulations supporting a competitive economy and trade development;
NOW, THEREFORE, BE IT RESOLVED THAT the Conference of New England Governors and Eastern Canadian Premiers fully recognize multimodal transportation systems, transportation corridors and links, as strategic issues to be addressed in the mandate and work plan of the Trade and Globalization Committee and encourage road, rail, marine and air operators to assist the Committee towards strengthening transportation services and infrastructure.
Shaheen adopted the National Governors Association policy:
The Governors are particularly concerned that bankruptcy reform legislation address the following issues:
Prevent Chapter 7 Use by Those with the Ability to Pay: Present bankruptcy law does not prevent use of Chapter 7 by those with ability to repay, nor does it require that debtors use Chapter 13, which would require them to repay creditors what the debtor can afford. The Governors strongly support federal efforts to prevent debtors from using Chapter 7 when they are financially able to pay some or all of their unsecured debts.
Encourage Payment of Domestic Support Obligations: Bankruptcy interferes significantly with states’ ability to assist citizens owed domestic support and to collect unpaid domestic support owed them. The Governors strongly encourage Congress to ensure that any federal bankruptcy reform requires that domestic support obligations have the highest possible repayment priority, that all domestic support obligations be nondischargeable,
and that commencement of bankruptcy not prevent the continued collection of child and other support obligations.
Give State Claims Parity with Federal Claims in Bankruptcy: Today, bankruptcy rightly gives certain preferences in payment to federal claims against the bankruptcy estate, but similar treatment is not always accorded state claims. The Governors strongly support congressional efforts to reform the treatment of state claims in bankruptcy to provide parity of treatment with federal claims.
Protect the State Role: The Governors oppose efforts to preempt state authority to determine exemptions under state bankruptcy law. Currently, debtors have a right to choose between federal and state exemptions. The Governors support efforts to shape bankruptcy reform policy that protects the rights of states to determine their own standards instead of having uniform federal regulations imposed without regard for individual state needs.
Source: NGA Economic Development Policy EDC-21: Bankruptcy Reform 01-NGA2 on Feb 15, 2001
Uphold commitments to states before other spending.
Shaheen adopted the National Governors Association position paper:
The Issue
The major budget issue will be over the surplus and how big of a surplus there will be. How much will be dedicated to paying down the national debt, how much to tax cuts, how much to increase defense spending, what to do about key discretionary spending programs, and whether and how to change key entitlement programs, such as Medicaid, Medicare, and Social Security? How these decisions are made could have significant impacts on the federal-state partnership, especially as they affect vital health and human services programs. What will happen to funding for priority state domestic discretionary programs for the federal fiscal year? When will Congress act?
NGA’s Position
Before considering new spending initiatives or tax cuts, the federal government must first uphold its current commitments to the states.
Source: National Governors Association "Issues / Positions" 01-NGA8 on Sep 14, 2001
