Palin's Record on Debt and Liabilities Bests the Rest of the GOP Field

Pennsylvania4Palin ^ | steebo77

[Anamnesis]

Of all current or former governors among the leading candidates for the 2012 Republican presidential nomination, no one’s record of dealing with his or her state’s debt and unfunded liabilities compares with that of Sarah Palin during her three fiscal years at the helm in Alaska.

The following analysis examines the growth of total debt outstanding and total liabilities, both on an actual and per capita basis, for Alaska under Sarah Palin, Massachusetts under Mitt Romney, Minnesota under Tim Pawlenty, Texas under Rick Perry, and Utah under Jon Huntsman.

Total Debt Outstanding

Of the five governorships examined, Alaska under Palin saw the smallest increase in total debt outstanding (12.7% cumulatively, 4.2% per year). Texas under Perry performed worst, with total debt increasing 20.5% annually, almost tripling during his term (a cumulative increase of 184.2%).

On a per capita basis, only Utah under Huntsman performed slightly better than Alaska under Palin. Utah experienced a cumulative increase of 6.8%, versus 7.4% for Alaska (1.4% per year for Utah, versus 2.5% per year for Alaska). Again, Texas under Perry ranks last, with an astonishing cumulative increase in debt per capita of 140.4% (15.6% on an annual basis).

Candidate	Beginning Debt Outstanding	Ending Debt Outstanding	Cumulative Increase/Decrease	Average Annual Increase/Decrease
Palin FY07 – FY10	$2.246 Billion	$2.531 Billion	12.7%	4.2%
Huntsman FY05 – FY10	$3.475 Billion	$4.204 Billion	21.0%	4.2%
Pawlenty FY03 – FY10	$3.474 Billion	$5.768 Billion	66.0%	9.4%
Romney FY03 – FY07	$15.963 Billion	$23.026 Billion	44.3%	11.1%
Perry FY01 – FY10	$12.561 Billion	$35.692 Billion	184.2%	20.5%

Candidate	Beginning Debt Outstanding Per Capita	Ending Debt Outstanding Per Capita	Cumulative Increase/Decrease	Average Annual Increase/Decrease
Huntsman FY05 – FY10	$1,391	$1,485	6.8%	1.4%
Palin FY07 – FY10	$3,326	$3,571	7.4%	2.5%
Pawlenty FY03 – FY10	$688	$1,090	58.5%	8.4%
Romney FY03 – FY07	$2,473	$3,543	43.3%	10.8%
Perry FY01 – FY10	$589	$1,416	140.4%	15.6%

Cumulative Change in Debt Outstanding During Governorship

Average Annual Change in Debt Outstanding During Governorship

Total Liabilities

Alaska under Palin was the only state to see a reduction in total liabilities (34.6% overall, 11.5% per year), due in large part to the Governor’s insistence that the State’s surplus be used to pay down unfunded pension obligations and forward-fund education. All other states experienced cumulative increases in total liabilities, ranging from 19.5% for Massachusetts under Romney to 60.6% for Texas under Perry. On an annualized basis, other states showed increases ranging from 4.9% for Massachusetts under Romney to 8.2% for Utah under Huntsman.

Under Palin, Alaska’s total liabilities per capita fell 37.7% (12.6% per year). All other states experienced cumulative increases, ranging between 18.7% (Massachusetts) and 34.3% (Minnesota), and annual increases, averaging between 4.0% (Texas) and 4.9% (Minnesota and Utah).

Candidate	Beginning Total Liabilities	Ending Total Liabilities	Cumulative Increase/Decrease	Average Annual Increase/Decrease
Palin FY07 – FY10	$9.847 Billion	$6.436 Billion	-34.6%	-11.5%
Romney FY03 – FY07	$37.679 Billion	$45.030 Billion	19.5%	4.9%
Pawlenty FY03 – FY10	$10.188 Billion	$14.366 Billion	40.7%	5.8%
Perry FY01 – FY10	$48.125 Billion	$77.271 Billion	60.6%	6.7%
Huntsman FY05 – FY10	$4.501 Billion	$6.351 Billion	41.4%	8.2%

Candidate	Beginning Total Liabilities Per Capita	Ending Total Liabilities Per Capita	Cumulative Increase/Decrease	Average Annual Increase/Decrease
Palin FY07 – FY10	$14,581	$9,079	-37.7%	-12.6%
Perry FY01 – FY10	$2,256	$3,065	35.8%	4.0%
Romney FY03 – FY07	$5,837	$6,928	18.7%	4.7%
Huntsman FY05 – FY10	$1,801	$2,244	24.5%	4.9%
Pawlenty FY03 – FY10	$2,017	$2,710	34.3%	4.9%

Cumulative Change in Total Liabilities During Governorship

Average Annual Change in Total Liabilities During Governorship

Summary

During the fiscal years for which Sarah Palin exercised budgetary authority as Governor of Alaska (FY08 through FY10)

•   Debt outstanding increased 12.7%, or 4.2% per year

•   Per capita debt outstanding increased 7.4%, or 2.5% per year

•   Total liabilities decreased 34.6%, or 11.5% per year

•   Total liabilities per capita decreased 37.7%, or 12.6% per year

During the fiscal years for which Jon Huntsman exercised budgetary authority as Governor of Utah (FY06 through FY10)

•   Debt outstanding increased 21.0%, or 4.2% per year

•   Per capita debt outstanding increased 6.8%, or 1.4% per year

•   Total liabilities increased 41.1%, or 8.2% per year

•   Total liabilities per capita increased 24.5%, or 4.9% per year

During the fiscal years for which Tim Pawlenty exercised budgetary authority as Governor of Minnesota (FY04 through FY10)

•   Debt outstanding increased 66.0%, or 9.4% per year

•   Per capita debt outstanding increased 58.5%, or 8.4% per year

•   Total liabilities increased 40.7%, or 5.8% per year

•   Total liabilities per capita increased 34.3%, or 4.9% per year

During the fiscal years for which Mitt Romney exercised budgetary authority as Governor of Massachusetts (FY04 through FY07)

•   Debt outstanding increased 44.3%, or 11.1% per year

•   Per capita debt outstanding increased 43.3%, or 10.8% per year

•   Total liabilities increased 19.5%, or 4.9% per year

•   Total liabilities per capita increased 18.7%, or 4.7% per year

During the fiscal years for which Rick Perry exercised budgetary authority as Governor of Texas (FY02 through FY10)

•   Debt outstanding increased 184.2%, or 20.5% per year

•   Per capita debt outstanding increased 140.4%, or 15.6% per year

•   Total liabilities increased 60.6%, or 6.7% per year

•   Total liabilities per capita increased 35.8%, or 4.0% per year

Sources:

Comprehensive Annual Financial Reports

State of Alaska

Fiscal Year July 1, 2006 – June 30, 2007

Fiscal Year July 1, 2009 – June 30, 2010

Commonwealth of Massachusetts

Fiscal Year Ended June 30, 2003

Fiscal Year Ended June 30, 2007

State of Minnesota

Year Ended June 30, 2003

Year Ended June 30, 2010

State of Texas

Fiscal Year Ending August 31, 2001

Fiscal Year Ending August 31, 2010

State of Utah

Fiscal Year Ended June 30, 2005

Fiscal Year Ended June 30, 2010

Population Figures

U.S. Department of Commerce, Bureau of the Census

Preliminary Annual Estimates of the Resident Population for the United States, Regions, States, and Puerto Rico : April 1, 2000 to July 1, 2010

[reasonisfaith]

Maybe it’s because Sarah Palin means what she says.

Like Ronald Reagan did.

[peyton randolph]

Comparing apples and oranges for a variety of reasons.

Example: Compare Alaska to Texas.

1. The Texas governorship is a weak office. The most powerful position is Lt. Governor. Giving Perry credit or blame for anything has to acknowledge the limitations of his office.

2. Perry has served as governor a lot longer than Palin did. Regardless of the reasons why, there’s a real record (good or bad) to look at for Perry. A partial term as Alaska’s governor isn’t enough to definitively say what Palin will or won’t do.

3. Alaska has about 700,000 people. Texas has 25 million. The economies of both are vastly different. It would be more accurate to compare Alaska’s governorship to being the mayor of the city of Austin.

In other words, these governorship comparisons are of limited value because we’re not comparing similar entities, similar populations, or even similar political offices with regard to the power wielded by the person elected as “governor.”

[Windflier]

Our choice couldn't be more clear. Palin for President 2012

[SoConPubbie]

You’re making excuses for Perry like most of the Perry Cheerleaders.

[SoConPubbie]

1. The Texas governorship is a weak office. The most powerful position is Lt. Governor. Giving Perry credit or blame for anything has to acknowledge the limitations of his office.

I'll give you credit for being honest on this point.

Too bad most of the Perry Cheerleaders want to give him credit for how good the economy is in Texas and refut everyone that points this fact out.

[SoConPubbie]

2. Perry has served as governor a lot longer than Palin did. Regardless of the reasons why, there’s a real record (good or bad) to look at for Perry. A partial term as Alaska’s governor isn’t enough to definitively say what Palin will or won’t do.

Actually, if you had studied what she had actually done while Governor this excuse of yours for ignoring the evidence would simply fade away. Shoot, just read the facts as they were posted. She actively fought to keep the budget small and act responsibly with the tax monies given to the state. She was actually a limited-government conservative.

[SoConPubbie]

Hey Guys, whoever has the ping list, please ping em’

[Retired Greyhound]

Who are you pinging?

[GBA]

I hope she gets in. I want to see her run the primary gauntlet and let the chips fall where they may.

[jla]

Is Sarah Palin a 'Perry cheerleader'? After all she has described Rick Perry as one who "walks the walk of a true conservative".
Why do you suppose she said this? She surely couldn't have been misleading people. So it must be true. Right?

[Anamnesis]

Sorry, but the rest of us aren’t idiots who forget the political context. Your misleading rhetoric won’t work here.

Perry definitely “walks he walk of a true conservative” when you compare him to Kay Bailey Hutchison. his opponent for the TX Governorship.

[peyton randolph]

I’m not a big fan of Perry. Just noting that these comparison charts are of limited value when you consider what each governor has to contend with and the powers (or lack thereof) each possesses.

Right now, I’d hold my nose and vote for Bachmann of the existing GOP field.

If Perry enters the race and Palin doesn’t, I’ll vote for him over Bachmann.

If Palin enters the race and Perry doesn’t, I’ll vote for Palin over Bachmann.

If both Perry and Palin enter the race, I wait to see how each performs before deciding which one to vote for in the primaries.

[magna carta]

Well actually Kay voted down the DREAM ACT.

[normy]

Palin and Perry both rejected stimulus money because of the strings attached.

Texas has grown by almost 4.3 million people, the most of any state in the last 10 years (oddly the same amount of years Perry has governed)

Texas has bond debt to cover infrastructure and the jump in unemployment benefits in 2009 to accommodate those 4.3 million people.

Texas has a balanced budget and a rainy day fund. The debt Texas has will be paid off like it was in 2003. The massive growth requires such things. Imprudent spending did not cause Texas bond debt, growth of population did, the only way to pay for that kind of growth is to borrow or tax and since there is no state income tax, Texas borrowed at very reasonable rates.Alaska's budgets surpluses and shortfalls rise and fall directly with the price of oil.

[rabidralph]

This is nuts! Nobody votes for a politician to keep their campaign promises! She’s destroying the curve!/sarc

[geege]

And what was Zero doing???? Oh that’s right....hanging curtins.....

[geege]

And what was Zero doing???? Oh that’s right....hanging curtins.....

[normy]

Palin and Perry are fiscally conservative with very different states to govern.

Did you know Alaska receives the 3rd most federal money of the 50 states? Did you know Texas is a net donor state? Did you know most infrastructure in Alaska is paid by the US Govt i.e. you and I. Did you know that is not the case in Texas?

I mean if Texas was 3rd in federal funds received (and Alaska was numero uno for many years)instead of losing federal dollars to those recieving fed welfare, perhaps we wouldn't have to sell bonds to build our roads and bridges. Alaska gets that done by Uncle Sam, not the Lone Star State.

Under 2% of Texas is public land, the rest is privately owned.

Alaska doesn't have a sales tax or an income tax and it's citizens receive around $1,500 a year just for living there. Boy that Sarah Palin and every governor before her and after her are budgetary miracle workers. Could they do the same for the whole of the USA? Perhaps by levying a windfall profit tax on the oil companies but someone has to pay the welfare dollars to the states, who would that be?

[grey_whiskers]

Thanks, Anamnesis.

*PING* to the rest of you.

jla, PSYCHO-FREEP, wtc911 EveningTroll-- suck on this.

Cheers!