
According to the report, below, from the BR Business Report, Louisiana will return to the status quo, economically, by 2012.
Is that good news or bad news?
On the surface it might seem to be good news because being better than where we are currently seems like an improvement. However, if one looks where we were before the recession/depression it might not be.
The status quo
Before the recession/depression LA ranked 49th out of the 50 states in terms of the state’s economy. That ranking included the activity from the billions in Federal dollars to repair the damage inflicted on us by the incompetence of the U.S. Army Corps of Engineers.
Currently, we are being asked by the politicians at the national and state level to accept as “good news” that the rate of the economic decline is slowing. That’s like saying that we were drowning in 12 feet of water, but now we are drowning in 10 feet of water because some of the water has evaporated. For those of you who choose to look at the glass being half-full instead of being half-empty that might pass for good news. However, for the realists among others, the fact remains we are still drowning.
Thus, if you can tread water until 2012, you will only drown in 10 feet of water. However, if you choose not to drown, it’s time to demand that the elected officials in Louisiana do better than what they have done.
A suggestion
A suggestion from one who chooses not to drown is to forget making government more efficient as is the only plan in motion from the Jindal Administration. Instead, call a special session to immediately repeal all business taxes, fees and regulations not mandated by the Federal government and down-size government in Louisiana to whatever size can be sustained by the remaining consumer taxes.
If businesses are willing to come to our state for cash bribes and tax breaks in spite of the fact that we rank last in quality of life issues, then surely they will flock here if there are no state business taxes at all. Why wait to 2012 to get back to where we’ve always been — at the bottom.
All it takes is political courage by our elected officials to throw us a life line instead to telling us to continue to tread water.
If anyone has a better suggestion please let me know. I’m open to any suggestions other than telling me to tread water and pretend that I’m actually going somewhere.
C.B.
Baton Rouge Business Report’s Daily Report July 30, 2009
Report says La. will recover from recession by 2012
The number of jobs in Louisiana is expected to return to pre-recession levels by 2012, according to a new report. IHS Global Insight says the state will recover quickly from the recession, since there was never a housing bubble and because of the oil industry.
According to preliminary figures from the Louisiana Workforce Commission, the state had about 15,000 fewer jobs in June, when compared with numbers from a year earlier. IHS says states in the Northeast and industrial Midwest will emerge more slowly from the recession; Connecticut, Indiana, Michigan, Ohio and Rhode Island aren’t projected to return to pre-recession job levels until after 2015.
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CB
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