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Transcript from "1 hr. Live Wire Chat with Larry LaRocco @ 10:00 a.m."

Date: October 17, 2008

ctaule

10:01

Welcome to our Q&A with Democratic congressional candidate Larry LaRocco. Larry is here at the Post Register to answer your questions. Keep it civil and he'll take them one at a time. Thanks very much for participating and enjoy.
corey taule

scotsman

10:05

what will ypu do as us senator to gurantee stable funding at the inl?

LarryLarocco

10:10

It's great to be with you this morning. As a former Member of Congress I will go to the front of the line for seniority when I go to the US Senate. This is important to Idaho because I will be a member of the majority party. As a part of the team setting the agenda I will be able to fight for the INL effectively and actively. My policy statement on energy independence is on my website at: www.laroccoforsenate.com. Please go to there to view my policy statement that is very supportive of the INL agenda and research. I have pledged to continue my "working for Senate" activities when I am in the US Senate in order to stay grounded with Idaho values and our economic base. I look forward to "taking a job" at the INL after January to stay in touch. We need to set an aggressive agenda to achieve energy independence and everyone in the US Senate will know the INL is well-positioned for us to reach that goal. Also, I will work closely with Senator Mike Crapo as a team for the INL.

darlene rydalch

10:10

Thank you for your service to our country. I'm interested in a mandatory service program for our youth ages 18-25. Either one year of AmeriCorps or one year of Military Service. Other countries do this and I think it helps to foster a sense of patriotism, plus shows that we value service work in our communities. Would you be willing to support a mandatory service program?

LarryLarocco

10:13

Thank you for your question. It's a great one. I think President Bush missed a huge opportunity after 9/11 to rally our country around a commitment to national service. I will certainly promote this concept as a US Senator. I believe we build strong communities and a strong country through public service. Service to my country has been a huge part of my life, as a soldier, staffer for Senator Frank Church, Member of Congress and candidate for office. We are on the same wave length and I believe a return to this notion and value of public service is a proper policy for us to pursue.

ctaule

10:14

I'll keep this rolling. You've said you would have voted for the $700 billion bailout while your primary opponents in this race, Rex Rammell and Jim Risch said they would have opposed it. Two parts: Can you explain your reasoning? And did the amount of pork in the bill give you pause?

theghoitman

10:15

Mr. LaRocco, we have seen massive amounts of spending by the Federal Government over the past eight plus years. What would be the best solution to fix this and how should we go about it?

ctaule

10:16

Just so you know, we're skipping me. I'll ask when we have a lull, so if you guys keep the questions coming I can sit back, relax and drink coffee.
corey

ctaule

10:19

We're on the federal spending question with the economic crisis on deck.
corey

LarryLarocco

10:21

The deficit spending of this country is a huge problem that must be reversed. When I entered the US House of Representatives the annual deficits were largest in history. In town meeting after town meeting my constituents pleaded with me to do something about them. They knew the deficits choked our economy and saddled our future generations with debt. At that time the deficits were 6% of GDP and unacceptable. I did do something about it and the vote I cast to cut spending by approximately $500 Billion over five years and raise some revenues resulted in a surplus in 2001 and a long period of job creation and prosperity for America. I took my job seriously. I was not credited at the time with doing the right thing but as we look back that vote set us on the right fiscal course for America. We need to do the same thing now. You will see on my website that I support a Balanced Budget Amendment. The Iraq War and the "bailout" will mean we must continue to be vigilant on our deficits. The debt ceiling will grow soon to a whopping $11 Trillion. That must be reversed. As your next US Senator I will work for your job(s). This election is not about my job. It's about your job and I will go the extra mile as I have during this campaign.

idahogie

10:21

Good morning. I'd like to hear your explanation of the cause of our current economic crisis. What are the primary things that need to be fixed?

ctaule

10:24

Larry is retyping his economic crisis answer (wrong button) with the environment on deck.
corey

ctaule

10:27

Excellent questions, by the way. Keep 'em coming.
corey

LarryLarocco

10:31

We veered away from the true basics of economics by promoting something for nothing. There is plenty of blame to go around. With the securitization of mortgages there were many folks from the start of the process to the end that collected fees and stood to benefit with fees and commissions if mortgages were placed with consumer - regardless of the credit worthiness of the applicant. Also, the SEC was asleep at the switch and has made the astonishing admission that it allowed "self-regulation" of investment banks. That was dead wrong. Also, the huge derivatives market was left un-regulated and under capitalized. That added to the problem when the approximately $450 Trillion bi-lateral contracts were called. This brought down AIG and Lehman....among others. Additionally, we strayed from the policy that eliminated "too big to fail" and this created a moral hazard with firms that felt the government was available as a safety net. We need to immediately establish a new regulatory regime that restores the prominence of the US financial markets. Our markets have historically been the envy of the world. Until now. Greed played a huge part in this fiasco and disaster. CEO's did not understand what cancer existed in their organizations. They turned a blind eye to units that were generating enormous profits. Those units then caused the collapse of venerable firms. I am well position to help clean up this mess. I have over 30 years of experience in the financial services arena. I'm ready on Day One to go to work for you.

DOH

10:32

The environment seems to have been all but forgotten because of the concerns about war and economy. What will you do to ensure that Idaho's outdoor interests, including good environmental health, are represented in the Senate?

LarryLarocco

10:36

Since 1975 I have been working on public lands issues. I helped Frank Church negotiate the Gospel-Hump Wilderness and the protection of the St. Joe River under the Wild and Scenic Rivers Act. My legislation - The Snake River Birds of Prey National Conservation Area - is the last piece of legislation passed by Congress and signed into law to protect any area of Idaho. More remains to be done. I have authored legislation in the US House to protect the Lower Salmon River and the North Fork of the Payette River. I had a solid proposal to create more Wilderness in the 5 National Forests of the 1st CD when I served in Congress. I am not in denial about global warming and I have a solid proposal for energy independence on my website: www.laroccoforsenate.com. I will be an active participant with conservation groups to insure access and protection to our public lands. I welcome your input when I am your next US Senator in the post-Larry Craig era. And I look forward to working with Mike Crapo to protect our wonderful habitat and clean waters of Idaho.

hippie kym

10:36

Would you share with us a few examples of Obama's policies you agree with most, and also least? Thank-you for your time here today!

ctaule

10:40

Just a head's up to you all while Larry types: Lt. Gov. Jim Risch, the Republican candidate for this Senate seat, will be participating in this forum next Friday at 3:30 p.m.
corey

LarryLarocco

10:40

I share Barack Obama's commitment to extricate us from Iraq and deal forcefully with the situation in Afghanistan. Although he has a different proposal than I do on health care I share his passion for building an American-based system that will move us towards insurance coverage for all Americans. Please view my health care policy on: www.laroccoforsenate.com. I share his commitment to our brave men and women in uniform. I have position papers on veterans issue as well. We must do more for our veterans as they face terrible brain injuries (TBI- Traumatic Brain Injury) and PTSD. I share his support for a middle income tax cut. Overall, I share his optimism about our great country and know that if we roll up our sleeves and work together we can tackle any problem confronting America.

DOH

10:41

Is the Democratic party growing in Idaho, do you think, because of the recent interest in the presidential election? I've been an independent, mostly, but my wife is die-hard Democrat. It's a lonely life in Idaho Falls... :-)

LarryLarocco

10:46

Boise State University studies since 2005 show that fewer and fewer Idahoans self-identify themselves as Republicans. They are moving into the Independent and Democratic category. I believe this is happening because of the Bush policies and the strength of our candidates in Idaho. Also, middle-income Idahoans are riveted on issues that are being addressed by Democrats in a meaningful way: health care, Iraq, energy independence and alternative sources of energy, civil liberties. Additionally, my "hand shake poll" tells me that Idahoans hunger for change. We'll have a pleasant surprise on November 4th. I believe that we govern as we campaign and Jim Risch's strategy of "hiding behind the elephant" is not going over well with Idaho voters. It's the wrong strategy in 2008. Idaho voters know I am going the extra mile to work with them and know more about the challenges working families face in the face of rising energy costs, an economic downturn and exploding health care costs.

scotsman

10:47

Recently the moderator during the debates asked each canidate what their priorities were because they cant do it all. What would be ypur three top proorites representing the state of idaho

LarryLarocco

10:53

Scotsman: Great question. I am always tempted to mention a specific issue when faced with this question. However, the most important issue is whether the Congress can actually function as a deliberative body instead of the constant wrangling and virulent partisanship that has produced gridlock on the issues of importance to you. I want to make Congress work better and I will reach across the aisle to do so. Beyond that I recognize we have to get our economy back on track, create good jobs for Americans and compete in a global economy. I view health care as another priority and my plan will go a long way to relieving the economic insecurity working families now feel because the exploding costs of health care. This is not a partisan issue. Small, medium and large businesses are all feeling the pinch of these rising costs. Coalitions are forming to solve this growing problem and those coalitions will transform US politics. I have identified health care as the next looming crisis because the costs outstrip inflation. We must have a plan for withdrawal in Iraq. Those are issues that are at the top of my list. I have 13 position papers on my website. Please check them out at www.laroccoforsenate.com

DOH

10:53

Many thanks for taking the time for this chat, Larry. Thanks to Corey, also, for moderating.

LarryLarocco

10:54

I have truly enjoyed being with you today. I'm sticking around for a while longer to answer some more questions. This is the most important election of our lifetime and we must get this one right at all levels. Thank you.

theghoitman

10:54

Mr. LaRocco, thank you for your answer to my previous question. How do we end our foreign dependence on oil while minimizing the growing pangs that come with converting to alternative sources of energy? And what can you do in the Senate to deal with this problem?

LarryLarocco

11:00

There don't need to be huge growing pains. Congress - as an institution - is normally reactive and looks at issues in a rear view mirror. T. Boone Pickens is already leading the way on some issues in the private sector. We need to tackle these energy issues with the same determination. The government can help but it shouldn't be an obstacle while it jumps in the middle. We knew we were in trouble when the solar panels came off the White House during the Reagan Administration. We can do a tremendous amount with the tax code to encourage the development of alternative sources of energy. The Production Tax Credit (PTC) must be in sync with the needs of developers so that it doesn't discourage development and promote folks sitting o the sidelines. Also, the consumer is a very important ingredient in energy independence. We have all altered our behavior with $4.00/gallon gasoline and we should take note of how we have become more aware of our consumption. True leadership in the White House minimize the growing pangs. As we view this issue we know that it is truly a national security issue and we can take pride in "doing our part" to take us down the road to energy independence. I estimate we can create approximately 14,000 new jobs in Idaho by aggressively moving towards alternative sources of energy. These are jobs for our kids and grandkids. One of the jobs I had during the past 18 months was with US Geothermal in Malta.

darlene rydalch

11:00

I like pork as much as the next person, especially when we get money for projects in our state. However, I think the current process of hiding multiple unrelated spending projects/earmarks deep within various bills is not a very honest way of doing business. I'd like to see change in the process.

If you support the way business is currently being done, please tell me why it is the best way. If you agree with me that there should be a change to that process, what changes would you make?

LarryLarocco

11:05

We now gauge the effectiveness of an elected representative by the amount of pork he/she delivers. That's not the right measurement. There are many actions needed for our country that are not immediately quantifiable. However, transparency of the earmarks in the appropriations process is absolutely essential. I have seen a cottage industry of lobbyists created in DC because of earmarks resulting a "pay for play" environment. In turn this led to the unethical activities of Jack Abramahoff who was a lobbyist on steroids. This was wrong. We need changes. When I was in the US House the earmarks amounted to about 1,000. That has grown 10 times for the reasons stated above. Appropriators will never give up their turf to bring home the bacon from the committee on which they serve but we can avoid the abuses of the recent past.

scotsman

11:05

What will you do to restore proper funding for the US Forest Service so they can get back to enviromental restoration instead of putting out jjust fires?

LarryLarocco

11:07

I will fight to make certain the USFS has the proper funding for the jobs they need to do to protect the resources and fight the burgeoning number of forest fires. Fires have sucked the oxygen out of their budgets, and we need to harmonize the budgeting system so that other goals don't get stuck at the back of the line.

ctaule

11:08

Everyone, thanks so much for participating. Great questions all the way through. Remember, Jim Risch, same place, next Friday at 3:30 p.m. We'll let Larry say his good-bye's and see you all next week.
corey taule

ctaule

11:11

Also, a transcript of this chat will be available on our Web site today, through Election Day.
ct

LarryLarocco

11:14

I have truly enjoyed being with you today on this blogging session. I'm especially grateful to my high school sophomore teacher that taught me how to type! I appreciate your thoughtful questions and hope that I answered them with the candor you would expect of a candidate for the US Senate. I have gone the extra mile in this campaign to reach out to Idaho residents/voters. Your participation in today's session has helped me understand your concerns and has been valuable to me. I'll keep fighting for the working families of Idaho. Best wishes and thanks. Larry


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