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Oh No! Economics Is Broken!

by Goldy — Thursday, 5/15/14, 7:11 am

Goddamn liberal Seattle and its goddamn job-killing liberal policies!

April’s jobless rate of 6.1 percent was down from 6.3 percent a month earlier.

Joblessness in the Seattle metro area, which includes Bellevue and Everett, also declined two-tenths of a percentage point in April, to 5.0 percent.

As usual, Seattle accounted for most of the state’s job growth, with 7,100 of the 7,700 total coming from King and Snohomish counties alone.

No wonder the rest of the state hates us: our high taxes are stealing their jobs!

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Comments

  1. 1

    Travis Bickle spews:

    Thursday, 5/15/14 at 8:39 am

    Yup. Job growth means more money in the economy means more sales taxes means more revenue streaming to Metro.

    I guess this isn’t the thread in which HA types worry about the possibility of a future recession interrupting sales tax revenue flows.

  2. 2

    Better spews:

    Thursday, 5/15/14 at 9:31 am

    @1. That is one glum and bitter cheap labor conservative. Pesky facts are just gnawing at the failure of his conservative ideology.

    Where are conservative economics doing well? Lets’ see…

    Pulling back the curtain on Sam Brownback’s Kansas financial meltdown
    http://www.dailykos.com/story/.....l-meltdown

    Moody’s downgrades NJ debt as Christie’s budget problems grow
    http://www.nj.com/politics/ind....._grow.html

  3. 3

    Better spews:

    Thursday, 5/15/14 at 9:37 am

    At least Texas is doing well

    Boom Time in Texas: Jobs, Traffic, Water Worries

    “”We are already straining our systems for water, power, schools and roads,” says Texas State Demographer Lloyd Potter, appointed by Mr. Perry in 2010. “And they’ll continue to be stressed unless we invest more heavily.””

    “The growing population is taxing the infrastructure. The Texas Department of Transportation estimates that it receives $5 billion less a year from the state than it needs to meet current demands for road construction and repairs. The state’s 2012 water plan estimated regional and local entities would need $53 billion to meet additional water infrastructure needs by 2060. Roughly two-thirds of the state is currently in drought.”
    http://online.wsj.com/news/art.....2328227544

    Have to see how that evolves over the next decade.

  4. 4

    Travis Bickle spews:

    Thursday, 5/15/14 at 9:54 am

    @ 2

    You left out a couple of states, Better. From your NJ link:

    Only California and Illinois have lower ratings from the major Wall Street rating houses.

    That unfunded pension liability of $52B, the source of Christie’s financial woes, didn’t occur under him.

  5. 5

    cantbeme spews:

    Thursday, 5/15/14 at 10:11 am

    @4 and California’s problems with bond ratings aren’t Jerry Brown’s and the Democratic controlled legislature’s either. They are the result of years of fiscal folly caused by the stupid-ass conservative backed (and now repealed) initiative requiring a 2/3 vote to adopt a budget.

  6. 6

    Better spews:

    Thursday, 5/15/14 at 11:04 am

    Typical cheap labor conservative tactic of not telling the full truth, just the part that sounds like it’s the union’s fault.
    NJ is not able to make the payment because state income tax revenue came in far below the governor’s estimates, again.

  7. 7

    Travis Bickle spews:

    Thursday, 5/15/14 at 5:56 pm

    @ 5

    That’s a little less than accurate. Prop 13 passed overwhelmingly, with only three counties in CA voting against it. Jerry Brown was governor at the time.

    And he’s governor, again, now. Does he blame Prop 13? No, not so much:

    Brown made clear Tuesday he was not blaming the state’s current problems on Proposition 13. But, he said, the decisions made by state lawmakers in the wake of Proposition 13’s passage have created an untenable situation.

    “It was what the Legislature did after 13,” Brown said. Proposition 13 was not the problem, “it was what happened after 13 was passed.”

    http://latimesblogs.latimes.co.....op-13.html

  8. 8

    cantbeme spews:

    Sunday, 5/18/14 at 11:57 am

    Nope, sorry @7, you are the one less than accurate.

    In 1978, Prop 13 established a 2/3 vote to raise taxes, something I think is anti-democratic and awful public policy. California has had a 2/3 vote requirement to adopt budgets…..the primary responsibility of a legislative body…..since 1933. It was crazy but it generally worked until we entered the era of budgeting by initiative (ushered in by questionable court rulings allowing paid signature gathering) in which voters simultaneously mandate new spending and yet limit the ability to pay for that spending.

    In 2010, California voters wised up and repealed the 2/3 vote to adopt a budget. They also approved Gov. Brown’s tax increase package. Those two actions resulted in fixing California’s immediate crisis. You can’t undo decades of misguided conservative fiscal policy in two years however and California still faces massive debt. Marginalizing Republicans, which California voters have also wisely done, is the best path forward to clear their lingering fiscal issues.

Trackbacks

  1. Who Needs Metro? AAA Estimates Average Cost to Drive at $8,876 | HorsesAss.Org says:
    Thursday, 5/15/14 at 10:15 am

    […] of the side effects of Seattle’s booming economy and relatively strong real estate market is that we have been relentlessly driving our middle class […]

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