November 6, 2018

THANKS, JERRY!:

Trump Models U.S. Economy on Kansas. That's a Mistake: The better choice is one of his favorite whipping boys, California, which has a balanced budget, rapid growth and industries of the future.   (Barry Ritholtz, October 19, 2018, Bloomberg)

Kansas has been a disaster, with giant budget shortfalls, service cuts, slashed education budgets and a brain drain with young people leaving the state. The economy has failed to keep up with growth in the rest of the country and is much weaker in terms of job gains, wage increases and gross domestic product growth than neighboring states with similar economies. In 2015, for example, Kansas had one of the worst job growth rates in the country, at 0.8 percent, adding just 10,900 nonfarm jobs.

In the five years before Donald Trump was elected president in 2016, no state economy performed worse than Kansas. Things became so bad that Kansas decided to simply stop updating the public about state economic news. There's no reason to do this other than to obscure the obvious: Kansas's wounds were self-inflicted.

Compare that record with California's robust economy, increased tax base, balanced budget and job growth that exceeds the national average. The president may criticize the politics of the state, but there is little to find fault with its economy. If California were its own country, its $2.75 trillion economy and would be the world's fifth largest, after the U.S., China, Japan and Germany.

Governor Moonbeam should have been the 2016 presidential nominee.



Posted by at November 6, 2018 4:13 AM

  

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