I'm pretty sure most Californians appreciate not being like Iowans. I know I'm happy that we're not like California when it comes to the state budget. California's budget deficit is 49% of the total budget. Meaning, they are spending almost twice what they are taking in. Iowa's shortfall of 13% looks pretty good by comparison. In fact, if you read through this report from Pew you'll see that Iowa fairs pretty well on a number of fronts. In the past Iowa often suffered more than other states in a recession, primarily because of our dependence on one industry: Agriculture. The early 1980's was a double whammy as ag and our manufacturing jobs were both devastated. This time Iowa is fairing better because our state's economy has diversified and Iowa didn't have the housing bubble other states had.
No comments:
Post a Comment