The Senate seems set to pass an $820 billion spending bill dubbed a “stimulus package.” President Obama calls the bill absolutely essential and warns of economic catastrophe if swift action is not taken in Congress.

Not everyone agrees that this unprecedented spending package should be passed. In fact, South Carolina Governor Mark Sanford, whose state would be a beneficiary of the largess, claims the legislation will mean economic disaster.

Governor Sanford is far more eloquent than I, so you can watch him explain himself here:

The main takeaways:

• America is turning into a political economy: The key to success is having the right Washington D.C. connections, not actually running a good business
• Congress is trying to fix a problem caused by too much borrowing and spending by  borrowing and spending on an unprecedented scale
• The U.S. debt-to-GDP ratio is at a critical tipping point (government has borrowed too much!), which is increasing the risk of our currency collapsing

It looks like Republicans have a rising star in Mark Sanford.

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