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The Spectacle Blog
In his speech to the Value Voters Summit here in Washington this morning, Mike Huckabee addressed those who say that social issues should be deemphasized while the nation was in the midst of a severe economic crisis.
Though he didn’t mention the name, his remarks were a clear response to a potential presidential rival, Indiana Gov. Mitch Daniels, who he has explicitly criticized in the past for calling for a “truce” on social issues.
Huckabee argued that the financial crisis was rooted in a moral crisis, because greed-driven bankers turned Wall Street into a casino, and had taxpayers pick up the tab when they lost their bets.
He also said that our fiscal problems represented a family crisis. As an example, he noted that children from broken homes have a higher probability of ending up in prison, which costs taxpayers more money.
As for the rest of the speech, Huckabee echoed many of the standard conservative criticisms of President Obama, taking aim at the health care law and his handling of the BP oil spill.
The speech also had flashes of Huckabee’s trademark joke-telling style. At one point, he reminded the audience of House Speaker Nancy Pelosi’s infamous comment that we have to pass the health care bill to find out what’s in it. Huckabee chided that he imagines what that would be like if he applied such a comment to food. “I’m gonna know what I’ve just had for lunch when I passed it,” he said, to audience laughter.
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More Blog Posts by Philip Klein
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Booger| 9.17.10 @ 10:27AM
So, the country is in an economic crisis. The crisis is brought on by an utter lack of ethics/morals/scruples etc. by bankers and D.C. power brokers. So Daniels tells us we shouuld ignore the moral rot that brought on the economic crisis until the crisis is resolved.... Welcome to the REAL voodoo economics! If this makes Daniels presidential timber then I guess I need to start setting up crooked land deals to get to the Senate.
Siegfried X| 9.17.10 @ 10:53AM
The Democrats are forcing votes next week on homosexual rights and illegal immigrant amnesty. It is insane to talk about a "truce" on social issues. All that means is letting the Democrats win by default.
William R| 9.17.10 @ 12:08PM
No Huckster, the financial crisis has its roots with do gooder politicians making owning a home an entitlement.
Hank| 9.17.10 @ 12:54PM
I'm not surprised that Huckster would prefer to talk about "values" over economics, given his own preference for expanding government in ways that seem all to reminiscent of Obama himself.
Joe Carter| 9.17.10 @ 1:04PM
If you don't like Huckabee because he's a social conservative, it's fine to say so. But now that the 2008 primaries are over and people don't have to lie about other candidates to prop up Mitt Romney, it's time to drop the "Huckabee is an economic liberal" canard.
The people who say it are simply parroting some nonsense they heard somewhere else. Huckabee has a more conservative record on economics than any of the other candidates in the last primary (or Palin, for that matter).
I recommend doing your own homework rather than spouting the old talking points from Romney's campaign staff.
William R| 9.17.10 @ 6:02PM
The Huckster's expanded government in Arkansas.
Curly Smith| 9.17.10 @ 1:28PM
Ah, yes, those greed-driven bankers...
Let's see... Congress passes the Community Reinvestment Act in 1977 to make it easier for minorities and low-income residents to buy homes. Then the Act was amended in the 90's to further loosen mortgage standards. Then in the early part of this decade Fannie Mae and Freddie Mac "strongly encouraged" expansion of "sub-prime" loans.
And what happened... housing prices were greatly inflated as buyers who couldn't afford the available housing were snapping it up faster than it could be built, then infomercials told every one the secrets to being a real estate millionaire without spending a penny of your money, and more money was "loaned", housing prices continued to escalate, until the bubble collapsed under its own weight.
So Congress created the bubble and the greedy-bankers are too blame? Yeah, that sounds like the populist Mike Huckabee.
Joe Carter| 9.17.10 @ 1:32PM
So your complaint is that Congress was wrong to creat a more laissez-faire system? I guess when they did the had no choice but make bad loans to people without jobs. And the solution we needed was, what, more regulation?
Curly Smith| 9.17.10 @ 2:24PM
Joe, Joe, Joe...
If you want to argue the terms then at least understand them.
From: http://dictionary.reference.co.....ssez-faire
laissez-faire:
1. the theory or system of government that upholds the autonomous character of the economic order, believing that government should intervene as little as possible in the direction of economic affairs.
2. the practice or doctrine of noninterference in the affairs of others, esp. with reference to individual conduct or freedom of action.
Now that you know what laissez-faire means, perhaps you might explain how government intervention in the market creating the Community Reinvestment act, which forced specific obligations on lending institutions, coupled with further government intervention in the market by forcing the lending institutions to lower mortgage standards, followed by even more government intervention in the market when Fannie and Freddie actively sought sub-prime loans could be anything even remotely resembling laissez-faire?
Oh? What's that you type? The greedy bankers lowered standards so that must be laissez-faire? That they were compelled to do so by force of law is irrelevant? Yeah, that's the populist Mike Huckabee's answer too...
Joe Carter| 9.17.10 @ 3:47PM
It wasn't the CRA that caused the financial crisis (most bad loans were made by banks that were not covered by the CRA) but by loosening of restrictions on financial instruments.
It was the need for mortgage-backed bonds (and more than the legitimate market forces could produce) that drove the creation of bad loans.
I'm not letting the government off the hook (and neither is Huckabee). But the idea that banks were innocent bystanders who were forced by the government, against their will, to make bad loans is absurd.
Conservatives should be advocates for the free market. But that requires holding people accountable when they make stupid decisions. Blaming everything on the government and letting dumb businesses off the hook may be consonant with the GOP's agenda, but it is definitely not conservative.
Joe Carter| 9.17.10 @ 3:47PM
It wasn't the CRA that caused the financial crisis (most bad loans were made by banks that were not covered by the CRA) but by loosening of restrictions on financial instruments.
It was the need for mortgage-backed bonds (and more than the legitimate market forces could produce) that drove the creation of bad loans.
I'm not letting the government off the hook (and neither is Huckabee). But the idea that banks were innocent bystanders who were forced by the government, against their will, to make bad loans is absurd.
Conservatives should be advocates for the free market. But that requires holding people accountable when they make stupid decisions. Blaming everything on the government and letting dumb businesses off the hook may be consonant with the GOP's agenda, but it is definitely not conservative.
Curly Smith| 9.17.10 @ 5:25PM
OK then, how did the mortgage backed bonds fail?
I know, it's a puzzler because those mortgages were insured by Fannie and Freddie and backed by the full faith and credit of the United States. The bonds, therefore, were risk-free as the underlying mortgages were risk-free. The bonds could not possibly have failed - yet they did... why?
I'll give you a hint, it's in the name "mortgage backed bonds", and it's neither "backed" nor "bonds".
There's nothing about the financial mess that says "free market". Before, during, and after the crisis the industry is one of the most heavily regulated industries. The loaning institutions were forced to loan to those who lacked the resources to repay thus distorting the housing market. Ultimately the house of cards collapsed and taxpayers were forced to bail-out the failed institutions, again distorting the market.
So, to summarize, the housing bubble wasn't the free market at work and the bail-out wasn't the free market at work. The root cause was bad legislation as is the root cause of all our problems. But go ahead and chant "greedy bankers" it's the populist thing to do.
Joe Carter| 9.17.10 @ 1:43PM
***Huckabee argued that the financial crisis was rooted in a moral crisis, because greed-driven bankers turned Wall Street into a casino, and had taxpayers pick up the tab when they lost their bets.***
Huckabee makes this claim at a social conservative event and its used as proof that he is an "economic liberal."
Palin makes the *exact* same claim at the Tea Party convention and she is hailed as an economic conservative.
I can see why outsiders are so critical of our movement when we fail to maintain even a base level of consistency in our thinking.
Max| 9.17.10 @ 2:13PM
You are devoid of values if you let a brutal killer out of prison only for him to go on and kill police officers. What kind of morals would lead a person to let loose a monster like Maurice Clemmons?
Thank God Gov. Daniels is not stupid enough to ever do such a thing.
Joe Carter| 9.17.10 @ 3:16PM
First of all, Huckabee did not let anyone out of prison. As governor he didn't have that authority.
Second, guess who was pushing Huckabee to recommend to the parole board that Clemmons sentence be commuted? Conservatives. And why? Because they thought Clemmons had been railroaded by a Clinton-appointed judge based on flimsy evidence (the victim was a cousin of Bill Clinton).
Now we have different conservatives bashing Huckabee for doing what another set of conservatives pushed him to do.
Is it any wonder that a movement that is so schizophrenic is in such a mess?
Max| 9.17.10 @ 2:15PM
Huck is scum. He's trying to sabotage a potential Daniels bid they same way he did Romney with all of the whisper campaigns about Mormonism.
Daniels is 10 times the conservative then Huckabee could ever dream of being. His record on social and fiscal conservatism dwarfs Huck's lip service to these issues. Huck's big government compassionate conservatism is finished in the GOP. Stick with talk shows fat boy, you're not in Daniels' league.
Joe Carter| 9.17.10 @ 3:19PM
Again, you're lack of knowing anything about what you're talking about is an embarrassment.
What sort of "whisper campaign" did Huckabee institute? Were people unaware that Mitt Romeny is a Mormon?
And Daniels isn't even a conservative—he's a libertarian (and not really a smart one). By the way, where did Daniels stand on TARP?
Tim| 9.17.10 @ 2:18PM
The only things Huck loves more then grits and flap jacks are to raise taxes and give illegal immigrants huge government benefits.
Joe Carter| 9.17.10 @ 3:23PM
Oh good grief. Seeing such ignorance among conservatives is painful.
Huckabee raised taxes less than Romeny. And unlike Palin, he couldn't soak the oil companies to fund his state's services.
The Arkansas constitution requires a balanced-budget. After making all of the cuts that the Democratic-controlled legislature would allow, Huckabee allowed a 1 cent sales tax increase (over a ten year period) in order to pay for roads, prisons, cops, etc.
There used to be real fiscal conservatives in the GOP. Now they've been replaced by the Grover Norquist clones that think all taxes—even those for necessary services—are evil.
It's these boneheads that are killing the party and perverting the meaning of "economic conservative."
Paulo| 9.17.10 @ 2:38PM
Governor Huckabee is the only true conservative. He was the only major Republican presidential contender to oppose TARP under Bush, Stimulus under Obama, bank, auto, insurance bailouts, and the chronic Washington spending disease. Not only has he been a staunch opponent to liberal government spending but he has a proven record of balancing budgets. Huckabee is the only candidate with the communication skills capable of conveying principled, common sense, conservative solutions. HUCKABEE FOR PRESIDENT 2012!!
William R| 9.17.10 @ 8:38PM
The Huckster is not a true conservative. While he is culturally conservative he believes in using government to promote his beliefs. Just like Bush. I'm afraid the Huckster would be worse than Bush.
shipley130| 9.17.10 @ 4:21PM
The financial crisis was enabled by the sloppiness of previous Clinton administration officials, such as Larry Summers and Alan Greenspan. Please review The Ascent of Money if you don't believe that.