When South Carolina governor Mark Sanford announced that he would reject the stimulus money for his state I was wishing and hoping that he would follow through.

Well good news…he did.

South Carolina Gov. Mark Sanford is expected Wednesday to become the first governor to formally reject some of the federal stimulus money earmarked by Congress for his state.

The problem with the stimulus is that it allows state legislators to take some of the money that the governor rejects (despite the fact that the political leader of the state doesn’t want it), so Sanford can’t reject 100% of the money (assuming his state legislator wants any).

Mitch McConnell also came out today with a startling statistic. Since Obama’s inauguration the federal government has spent $1 billion an hour, most of which is borrowed money.

Which leads me to a video you should all watch. It’s on YouTube and discusses why Keynesian economics doesn’t work. It’s actually common sense, if government is borrowing money to spend money, they’re simply taking the money out of the economy’s right pocket and putting it in its left. It’s a very good video.

Also something new that hit the net the last couple of days. A jazz singer, Kathleen Stewart, has released a new single called “It Ain’t Your Money to Spend!” Very catchy song, we’re working out a time right now to do an interview with her for the show so look out for that!

–jb