Friday, May 31, 2013

Fed says Wisconsin's economic performance one of nation's worst!

The Federal Reserve Bank of Philadelphia has released its six-month economic forecast for the nation's 50 states.

Wisconsin is one of only five state's (Alaska, Louisiana, North Dakota, Wisconsin, and Wyoming) whose coincident indexes are projected to decrease. Forty-five states, including Illinois and Minnesota, both of which raised tax rates on high income earners recently, are projected to grow.

Walker's austerity economic policies are not working.


Anonymous said...

Is that the same Federal Reserve that says Bernacke's QE is working? And the same Federal Reserve whose solution to too much debt is more debt?

And did you notice it was a six month FORECAST? The Fed can't accurately tell us what happened last month and they are taking that "skill" to predict the next six months?

Look at a recent Forbes article on State growth and competitiveness.

Yes, Wisconsin is in the bottom third, but North Dakota (see Fed forecast to be an underachiever) is number one.

So with all government statistics (and the private Fed), Trust but Verify.

Michael Rosen said...

The numbers don't lie. Not only has the Philly Fed, not Bernacke's by the way, projected Wisconsin to have the 49th worse economic performance among all states for the next 6 months, but Wisconsin ranks 44th in job creation, 45th in wages. These are the facts regarding Wisconsin's actual performance under Walker's leadership. The Forbes ranking is not based on performance. Its ranking of competitiveness is based on whether a state has adopted policies that Forbes promotes like low high-income and corporate taxes and reduced regulation, rather than actual economic performance. I'll take the analysis of independent economists over states' comparative economic performance over the staff of a partisan magazine.

Anonymous said...

What is the unemployment rate in Wisconsin compared to the national average and compared to Illinois? Just curious. Thanks

Anonymous said...

Excellent questions. And what was the unemployment rate when Walker took office compared to now?

Anonymous said...

The new data just published said Wi improved from 40th to 20th. So using your own words, WI improved because of Walker's leadership. Correct????

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