Michael Franc
Michael Franc
autonomy federal government relationship short sovereigns state states traded wound
You look at the relationship between 50 state sovereigns and the federal government, and the states always come out on the short end of the stick. They've consistently traded autonomy for cash, and they've consistently wound up with neither.
face
The conundrum they face is that they know better.
entire federal government opportunity relationship sees
He sees this as an opportunity to revamp the entire relationship of the federal government to the region,
becomes debt grow higher increases large larger matter pay requires run short tax taxes trend
In the short run, you have to have higher taxes to pay for it. Or in the long run, you run up a larger debt and at some point, the debt becomes large enough that it requires tax increases to pay off the debt. No matter how you look at the trend lines, you can't grow your way out of it.
bad happen
Bad things that were going to happen have not happened,
boxes cause crises existing federal government innovative occurs response test today within
Crises cause government to grow. The test today will be how much of the federal response occurs within the existing boxes or through innovative ways.
afford consumer margins people push
It's going to push some people who are at the margins of being able to afford it into the consumer category.
action certain great issues year
They did a lot of tier-two issues that were important to certain constituencies but that, in and of themselves, were not of any great magnitude. It was not a year for, obviously, enactment or even action on tier-one issues.
They'd (lawmakers) would like to get a lot of these things out of the way before the end of the year.
almost calendar definition election
The legislative calendar is shorter and, almost by definition in an election year, tempers will be shorter, too.
business continues effects enormous government protect stake walk
If government continues to do things with enormous effects on business, they'll just find another way to protect their interests. There's too much at stake to walk away.