I begin this week’s program by discussing the current financial crisis with Jerry Bowyer, Chief Economist at Benchmark Financial.  Jerry and I agree that the government “bailout” bill passed into law this Friday is filled with unnecessary pork barrel spending, but does have some good features, including the extension of the Alternate Minimum Tax patch (AMT), the increase of the FDIC guarantee on bank accounts, and the purchase by the treasury of some troubled loans at market prices.  The problem is that almost $1 trillion in new potential government spending and government debt could create a long term drag on our economy.

 I also interview Chet Beiler, GOP candidate for PA Auditor General, who is running against Democratic incumbent, Jack Wagner.  Chet is a great man who believes that government—just like business—should exercise conservative fiscal responsibility.  He also believes that as the “tax payer’s fiscal watchdog,” the auditor general must insure Pennsylvanians that their tax dollars are being used correctly and efficiently.  Chet wants to clean up the toxic culture of corruption endemic to Harrisburg and reverse the financial crisis infecting PA.

 Because I believe that development of all economically viable energy sources is necessary to the long term health and prosperity of our nation, I explore the natural gas potential of the Marcellus shale, which runs through Western Pennsylvania and West Virginia with Scott Rotruck, Vice President of Corporate Development at Chesapeake Energy Corporation.  Finally, I discuss the performance of Alaska Governor Sarah Palin and Senator Joe Biden in the Vice Presidential debate Thursday evening.

 

 October 4-5, 2008 - From Financial Crisis to Palin Power: Play Now | Play in Popup