Blue state blues. The Associated Press is summarizing Virginia’s latest Comprehensive Annual Financial Report regarding the economic health of The Old Dominion. The news is bleak.
“Personal income grew 4.1 percent in Virginia compared to 4.5 percent in the U.S. Housing prices in Virginia rose 5 percent compared to 6.8 percent nationally. Virginia also lagged behind the national average in employment growth and the number of new building permits for privately owned housing.”
It sees that as Virginia continues to turn from red to blue politically it is also turning from red hot to icy blue economically. Coincidence? Perhaps. However, to the victors go both the spoils and accountability for results. Democrats have won every state wide race in Virginia since 2009. Perhaps it’s time to start asking the Democratic politicians some hard economic questions.
Good state, bad state, best state, worst state. US News & World Report has their own take on the quality of life in the 50 states. Again, the news is not good for Virginia. Virginia’s overall rankings fell from #11 in 2017 to #20 in 2018. The economy ranked 30th overall but 41st in growth. That growth number puts us in the same neighborhood as Illinois (#44) and New Jersey (#45) – two of Jim Bacon’s favorite targets for fiscal irresponsibility.
Wasn’t super-businessman Terry McAuliffe going to get Virginia back on track? Whatever happened to all those promises of jobs and growth? And given that Virginia ranks #9 in terms of opportunity and #39 in terms of infrastructure maybe Ralph Northam ought to resist his inner Karl Marx and think more about roads than increased wealth transfer.
— Don Rippert.