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Despite the fact that California's tax revenues are down 27 percent from a year ago, the Golden State's economy is apparently growing.
Governor Schwarzenegger's Special Advisor for Jobs and Economic Growth, David Crane, released a memo today revealing data from the Bureau of Economic Analysis showing that California's economy grew 0.4 percent in 2008.
Still, California's growth rate was only the 34th best in the nation. Alaska came in last, with an economy that contracted 2 percent in 2008, while North Dakota was #1 with more than 7 percent growth in real GDP.
All 50 states were down from a year ago, but California had the 16th best performing state economy in the country.
I would have thought if Texas did well according to the article because of the energy industy why was Alaska last? Isnt energy the big industry in Alaska?
California has a very good economy but its getting alot worse than most in impact because basically mismanagement.Alaska is in fact a very limited economy for obvious reasons of it popualtion and weather. But many there amke very good money but the cost of living has always ben high.Its still one of the most gems in the USA.Its also is in much better financially run as to spending verus revenues.Also if you look so many other liberal states are in real trouble.Dropping 27% in revenues and have other staes gainig on you quickly isn't a good sign of a stable balanced economy. Boom and bust has never been a good plan becuase you can work so hard and then die so quickly in such economies.
Despite the fact that California's tax revenues are down 27 percent from a year ago, the Golden State's economy is apparently growing.
Governor Schwarzenegger's Special Advisor for Jobs and Economic Growth, David Crane, released a memo today revealing data from the Bureau of Economic Analysis showing that California's economy grew 0.4 percent in 2008.
Still, California's growth rate was only the 34th best in the nation. Alaska came in last, with an economy that contracted 2 percent in 2008, while North Dakota was #1 with more than 7 percent growth in real GDP.
All 50 states were down from a year ago, but California had the 16th best performing state economy in the country.
Hee hee... Liberals: When conservatives put down California for being liberal, just show them this article.
Wait a minute that just shows how well managed Alaska is. Growth is down yet the state is not on the verge of bankruptcy unlike California. California with pretty good growth is a financial basket case.
Wait a minute that just shows how well managed Alaska is managed. Growth is down yet the state is not on the verge of bankruptcy unlike California. California with pretty good growth is a financial basket case.
Well, I think I see your point, but come on... If California's economy had contracted by 2 percent, this forum would be HOWLING with glee from certain posters.
Alaska has so few people that economic fluctuations can really change the state's statistics without much effort from anyone. But as a general matter, Alaska has been able to coast on pipeline and oil revenue for a while, and as that declines, there will need to be more creativity to find replacements, economically.
Of course, Alaska is the most socialist state in the country, so that could explain why they're doing alright, even when their economy is contracting.
Alaska has long held the distinction of being the per capita pork capital of the country. According to the taxpayer advocacy group Citizens Against Government Waste, Alaska benefits from federal pork-barrel spending to the tune of $555.54 for every Alaskan. That is more than double the per capita amount for the next highest pork-barrel beneficiary state, Hawaii (at $220.63), and nearly 40 times greater than what the poor saps in Arizona receive on a per capita basis ($14.17).
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