Saturday, May 05, 2018

Connecticut's Shrinking Economy: Now #49 Out Of 50 States.

It seems that there is constant news about how poor Connecticut's economy is and how it has not recovered since the last recession.  Recessions come in cycles.  The last recession was in 2008 and since that time Connecticut according to United States Bureau of Economic Analysis has only regained roughly 80% of the jobs it has lost while the country as a whole has more than doubled the jobs it has lost since then.  Connecticut now ranks #49 out of 50 states in economic growth dropping from #32 in 2016.  Connecticut's economy has shrunk to its lowest levels since 2004 a regression of enormous proportions.  This means that Connecticut is losing both businesses and citizens at a rapid level.  It is also means that the eight years of the Democrat leadership of Governor Malloy and a Democrat led State House and Senate have failed miserably in their economic programs.  It also means that the eight years of the Democrat leadership of Governor Malloy and a Democrat led State House and Senate increased taxes and expanded tax programs have failed miserably.  The Democrats who are running for reelection are quick to blame the Weicker/Rowland/Rell administrations.  Some Democrats blame the minority Republicans in the House and Senate for not increasing taxes enough. 
Yet the past eight long years in Hartford should prove to any Connecticut voter how poorly managed the economy has been run by the Connecticut Democrat Party.  Yet the Democrats continue to deny that anything is wrong.  They continue to argue for new and higher taxes.  They continue to nurture their brand of political nepotism with tremendous salaries, benefits and pensions for both union and management state workers.  This is the record they are running on in 2018.  The state media continues to embrace their failed policies in their reporting of the upcoming election by focusing upon the supposed "faults" of the Republican candidates.  I read little about any "faults" of the Democrat candidates including their convicted felon who is running for Governor.
Thus 2018 remains a critical election in Connecticut's history.  It could be an election that the economically illiterate Connecticut Democrat Party loses their majorities in the House and Senate.  It could be an election that the state Republican party loses some of their RINOS and become somewhat more fiscally and socially conservative.   It could be an election that we have a Republican Governor elected.  There are a great deal of unknowns this November.  One thing that is known is that Connecticut's economy is in a downward spiral.  Connecticut's economy has not been helped through the giveaway of Connecticut Taxpayer's monies through the Department of Economic and Community Development.  We see now the misuse and lack of record keeping for jobs and loan repayments in this agency.  And we also see that nothing whatsoever is being done at Department of Economic and Community Development to rectify it.
Connecticut's economy is on life support.  Connecticut's economy is damaged and broken.  Connecticut's state government tax and spend policies are economically unsustainable.  They are the direct cause of why businesses and citizens are moving out of Connecticut daily for the past eight years.  Yet many of our elected officials just do not understand it.  And the ultra liberal wing of the Connecticut Democrat Party wants even more state spending and more taxes. 
Connecticut is an economic crisis created by years of Democrat Party rule which has increased taxes to unsustainable levels.  Connecticut can only be saved if it is willing to cut taxes and spending.  Connecticut's swamp really needs to be drained this November to survive.

No comments: