by Steve Haner
First published this morning by the Thomas Jefferson Institute for Public Policy.
This makes if official: Even the Joint Legislative Audit and Review Commission (JLARC) has documented and highlighted how poorly Virginiaโs economy is performing, how far our state is lagging national growth averages.

The admission comes in the most recent summary on state spending trends, an annual report (detailed version here) which was submitted to and approved by the legislators on the panel last week.ย It covers the ten-year period of 2012-2021 and does a rolling update on previous years.
Virginiaโs average annual change in gross domestic product of 1.2% was just 63% of the national average, our per capita income grew 1.1% annually (58% of the national average) and our labor force grew just 0.6% annually over the period, 60% of the national average. The general correlation of the three deficits just demonstrates their interdependence. (more…)









by James C. Sherlock


