Friday, March 13, 2009
With a 10.4% unemployment rate, South Carolina has the fastest growing unemployment rate in the country, and economists do not see an end to the cycle of job losses spreading across the state. Between January 2008 and January 2009, South Carolina’s unemployment rate increased 4.7% — the largest jobless rate increase in the country.
Yet Governor Mark Sanford, a wealthy man in his own right, doesn’t want to spend stimulus money on the unemployed. Sanford, who is white, said the recently signed economic stimulus bill could spur a Zimbabwe-style economic collapse of the U.S. economic system. A curious comparison for a governor to make in a state with an African-American population of 30%.
So, what does Gov. Sanford want to do with the Federal stimulus money? He wants to use it to pay down the state’s debt. Reducing debt on the back of suffering citizens can only mean one thing: he plans to run for president in 2012.