Rick Perry Doesn’t Understand the Word “Subsidy”

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Paul Kane writes in the Washington Post today that both Ron Paul and Rick Perry, who have spoken out against energy subsidies, nonetheless lobbied for federal loan guarantees for a nuclear plant in Texas. Is this hypocrisy? Paul actually had a perfectly good answer: he opposes federal intervention in the energy market, but once funds have been allocated he’ll do his best to make sure that his district gets its fair share.

And then there’s Perry:

On Wednesday, Perry spokesman Mark Miner said he thinks loan guarantees are not the same as “subsidizing” corporations, because a well-managed company will not default and leave taxpayers liable for repayment. The governor said energy promotion will be a hallmark of his jobs creation plan during the presidential campaign.

Unlike Paul’s answer, this one is nonsensical. Of course loan guarantees are a subsidy. What else would they be? And the whole point of a federal guarantee is that it’s only necessary if the private sector isn’t sure about whether the company will default. If the loan is a sure thing, Wall Street would be happy to finance it all on its own.

I may not agree with Ron Paul on much, but at least he has a functioning brain that knows how to think consistently. But Perry’s just dim, and apparently so is his spokesman.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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