Mark Neumann wants to take Economic Stupidity to U.S. Senate.

To contact us Click HERE
Mark Neumann is another one of those millionaire “citizenlegislators.” He’s a business man, and as such, knows money inside and out. He’llbring that business expertise to government.

Problem is, he’s either dumb as a board, or is knowinglylying about finance and his business acumen. According to theheadline in Politifact:

If the U.S. didn't borrow $1.2 trillion every year "tofund government operations," that money would be available "forentrepreneurs and business people to put to work creating jobs and building andexpanding their businesses." Mark Neumann onWednesday, June 13th, 2012 in an interview

Keep in mind: Neumann has been in state politics for years, andhe liked the freeloading Republican lifestyle of doing nothing hard aslawmakers so much, he wants to do nothing in the U.S. Senate.   Since I hate Politifact so much, I’m only going to showcasethe economic expert’s opinion of Neumann’s claim to fame about taking hiseconomic business experience to Washington.
Neumann wasn’t shy about putting his stupidity on display:

Neumann: "They (fed) are borrowing that money andthat's the point exactly. If they did not borrow that money, that money wouldbe available out here in the private sector for entrepreneurs and businesspeople to put to work creating jobs and building and expanding theirbusinesses.

"As it is -- and listen, I'm a business owner myself, I've been inbusiness for 35 years here in Wisconsin creating Wisconsin jobs -- and thereality is, I understand that I'm now competing against the federal governmentto borrow money to expand our businesses. We just expanded into the Madisonmarket to the Dane County area with our business and it was a monumental taskto arrange the financing to do that because the federal government is taking$1.2 trillion first, before any of us entrepreneurs get to compete to borrowmoney."

Wrong!!! But hey, he’s a business man and a citizenlegislature, say it ain’t so:

"The U.S. government and American entrepreneurs are notrunning after the same pool of money," said AbdurChowdhury, chairman of the economics department at Marquette University inMilwaukee. The U.S. borrows largely from overseas -- by selling securities --while domestic businesses borrow mostly from domestic banks, he said.

That wasn't the only economic expert to trash Neumann:

The notion that the amount of federal borrowing limits money available to beloaned to businesses "is absurd on its face," said Dean Baker,co-director of the liberal Center for Economic and Policy Research inWashington. "Every single measure of the interest rate (Aaa bonds, Baabonds, mortgage loans, car loans etc.) is lower today than at any point in the(George W.) Bush administration," he said by email. "If governmentborrowing were pulling money away from businesses, it would be by pushing upinterest rates."

BarryBosworth, senior fellow in economic studies at the Brookings Institution inWashington, agreed. Neumann’s statement "makes little sense right nowbecause the basic problem is the opposite -- no one wants to borrow, and henceinterest rates are near zero.  If we could get more people to borrow andinvest, the economy would quickly recover," he said.

AndrewReschovsky, professor of public affairs and applied economics at theUniversity of Wisconsin-Madison, said that among other reasons, Neumann isproven wrong by "basic economics." Increased federal borrowing shouldincrease demand for money and raise interest rates, which would discouragebusinesses from borrowing, but interest rates have been at or near historiclows, he said. We rate Neumann’s statement False.