November 12, 2009

Rhode Island Economy

The California of New England, but Not in a Good Way

Carroll Andrew Morse

Here is the Christian Science Monitor's bleak summary of the results of a rapidly-circulating Pew Center on the States report, which says that 9 other states are facing California-like fiscal disaster in the near term…

The “great recession” may be over, but its impact on state governments is still unfurling – and could threaten America’s fragile economic recovery…

The Pew Center on the States released a report concluding that nine states have joined California in a condition of “fiscal peril.” Their budget troubles could cause a round of job cuts and tax hikes in states from Florida to Illinois and Oregon.

Rhode Island is one of the nine, achieving a score of 28 out of a possible 30 points for Californianess.

A link to the entire report and report summary is available here.

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"Wish they all could be California ..."

(Actually, in this case, not so much.)

Posted by: Monique at November 12, 2009 6:04 PM

I wonder why the "green" stats are in the middle of the country. I know that Texas is "industrializing", but I have no idea about the Dakotas and the other states.

Posted by: Warrington Faust at November 12, 2009 11:20 PM

Warrington Faust,

Maybe it has something to do with the states having low unemployment rates and/or low housing foreclosure rates.

Posted by: Ken at November 13, 2009 1:17 AM

At least California has the wine country, fabulous sunny weather, and a major technology sector, including biotech. Why am I here? Must be the meatballs and gravy.

Posted by: MadMom at November 13, 2009 5:12 PM
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