Thursday, May 23, 2013

Wisconsin - America's Greece Thanks to Walker

From HuffPo 
Before Wisconsin, Greece was seen as a case study of what not to do during troubled economic times. A safety net destroyed, public unions decimated and massive corporate tax breaks that did nothing to help their economy, leading only to skyrocketing unemployment and a faltering GDP. Now, Wisconsin sadly serves as a parallel study, with an economy sinking into severe long term job losses, far behind the national pace of job growth.
Scott Walker and his tea party cohorts bought the snake oil of austerity. They forced the Badger State to drink it. And Wisconsin's families are suffering because the governor ignored the evidence that it is a toxic brew.

Read the Whole article

But I think President Saunders is giving Scottie Walker too much credit for this rosy economic outlook.  Scottie needs to share this excellent state performance with his Wisconsin ALEC legislators who together pushed the economic policies of American Legislative Exchange Council - like, selling state assets.

Oh - but wait
ALEC report declares Wisconsin economy a success:

MacIver News Service | May 23, 2013

[Madison, Wisc...] Wisconsin improved 17 spots on the American Legislative Exchange Council's Rich States, Poor States Economic Outlook Ranking from 32nd to 15th, the greatest improvement of any state over last year

BEWARE of Partisan and Biased economic performance reports
Oh, But wait

As the national employment recovery slowly has begun to brighten, Wisconsin struggles to keep pace, according to the latest available government jobs data deemed credible by economists.

Wisconsin ranked 44th out of the 50 states in private-sector job creation in the 12 months from September 2011 to September 2012. The state's position has deteriorated progressively from a revised rank of 41st in the previous 12-month period through June 2012; and from a rank of 37th in the 12 months through March 2012.

Oh, But wait
State Democratic chair Mike Tate accused Walker in a statement Thursday of focusing more on presidential ambitions than the state's economy, saying, "The day Scott Walker took office, we were 11th in job creation. Now, we are 44th, and it is a direct result of both his inattention and his policies."
BEWARE of Partisan and Biased economic performance reports
Be well informed
Be sure to read both sides of the issue.
Don't make the mistake of accepting partisan - one-sided arguments when it comes to the economic health of your state

Prominent studies that purport to measure and rank the states’ “business climates” are actually politicized grab - bags of data. They have no predictive value and should not be used to inform public policies. Those are the main conclusions of a new study published today by Good Jobs First . “Grading Places: What Do the Business Climate Rankings Really Tell Us?” is authored by Dr. Peter Fisher, an economist who has written extensively on economic development. “

When we scrutinized the business climate methodologies, we found profound and elementary errors,” said Fisher. “We found effects presented as causes. We found factors that have no empirically proven relationship to economic growth. And we found scores that ignore major differences among state tax systems. ”
And unless the partisan and extremist American Legislative Exchange Council has drastically changed their format and data analysis- this report may still apply.

In actuality, Rich States, Poor States provides a recipe for economic inequality, wage suppression, and stagnant incomes, and for depriving state and local governments of the revenue needed to maintain the public infrastructure and education systems that are the true foundations of long term economic growth and shared prosperity.  

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