“By the time the national recession hit this fall, Florida was already a year into it. The construction industry felt it first, with 79,000 jobs lost. By last month, unemployment had reached every sector, and 156,200 Floridians had lost their jobs in a year. A once robust housing market has a record inventory of 300,000 unsold homes, six times the normal average of 50,000.”Florida State University President T.K. Wetherell and a former House speaker said:
“You can't be a world-class state and use the tax system that we have. This system is not going to produce the resources that we need to run one of the largest states in the nation and provide the services that people want. You can't keep putting Band-Aids on it.”
4 comments:
Don't know that the charts helped the article in the Herald, or at least they didn't help me. But I did like the article.
Read this in Dan Ricker's report:
The Miami Herald www.miamiherald.com today, in a front page story details how Florida will lose around $31.4 billion less in state funding revenues over the next four years than was expected and the state’s economic nightmare will also spill over into the 67 counties and hundreds of cities budgets, and while Crist is optimistic, state CFO Alex Sink is sounding the alarm at the velocity that the state is spending money and cutting checks.
I'm pretty sure T.K. was a huge supporter of the Services Tax in the early 90s which was such a disaster that it was repealed 6 months later and cost the incomming speaker of the house (Bo Johnson) to lose his next election.
Great Plan T.K.
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By the time the national recession hit this fall...
National Bureau of Economic Research announced that the U.S. economy has been in a recession since December 2007.
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