Posted by Tina
Would you appreciate some insight into which presidential candidate has the better economic proposals? If so please read the article, “If You Like Michigans Economy, Youll Love Obamas, by Phil Gramm and Mike Salon published in the Wall Street Journal online.
Despite the federal government’s growing economic dominance, individual states still exercise substantial freedom in pursuing their own economic fortune — or misfortune. As a result, the states provide a laboratory for testing various policies. *** In this election year, the experience of the states gives us some ability to look at the economic policies of the two presidential candidates in action. If a program is not playing in Peoria, it probably won’t work elsewhere. Americans have voted with their feet by moving to states with greater opportunities, but federal adoption of failed state programs would take away our ability to walk away from bad government. *** Growth in jobs, income and population are proof that a state is prospering. But figuring out why one state does well while another struggles requires in-depth analysis. *** Ranking states by domestic migration, per-capita income growth and employment growth, ALEC found that from 1996 through 2006, Texas, Florida and Arizona were the three most successful states. Illinois, Ohio and Michigan were the three least successful.
The rewards for success were huge. Texas gained 1.7 million net new jobs, Florida gained 1.4 million and Arizona gained 600,000. While the U.S. average job growth percentage was 9.9%, Texas, Florida and Arizona had job growth of 18.5%, 21.4% and 28.9%, respectively. *** Remarkably, a third of all the jobs in the U.S. in the last 10 years were created in these three states. While the population of the three highest-performing states grew twice as fast as the national average, per-capita real income still grew by $6,563 or 21.4% in Texas, Florida and Arizona. That’s a $26,252 increase for a typical family of four. *** By comparison, Illinois gained only 122,000 jobs, Ohio lost 62,900 and Michigan lost 318,000. *** Workers in the three least successful states had to contend with a quarter-million fewer jobs rather than taking their pick of the 3.7 million new jobs that were available in the three fastest-growing states. *** In Michigan, the average family of four had to make ends meet without an extra $8,672 had their state matched the real income growth of the three most successful states. Families in Michigan, Ohio and Illinois struggled not because they didn’t work hard enough, long enough or smart enough. They struggled because too many of their elected leaders represented special interests rather than their interests. *** Michigan lost 83,000 auto manufacturing jobs during the past decade and a half, but more than 91,000 new auto manufacturing jobs sprung up in Alabama, Tennessee, Kentucky, Georgia, North Carolina, South Carolina, Virginia and Texas.
Read the article to discover what these two gentlemen have to say about the differences between the economic proposals of McCain and Obama and remember…
If you work, if you have children or grandchildren who will soon be looking for work, and if you care about whether this nation prospers (or begins to look economically like Michigan, Ohio, and Illinoise…or even California lately!) you will want to read this important iarticle before casting your vote in November.