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Originally Posted by Jim in CT
OK, Spence. So WI and OH turned things around by having the government borrow and spend more. Got it.
Spence, if that's true (and of course it's not), why has that approach faired so poorly in CT, MA, RI, and Washington DC?
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Different situations.
Ohio has benefited from a recovering auto industry of which there's little supply chain in the north east. Ohio also does have a lot of heavy manufacturing which has rebounded well with international infrastructure development and stimulus spending domestically.
Walker certainly did cut some costs, but I believe he's also diverted banking settlement money into the general fund and borrowed $500M to restructure WI debt.
The point being, you can't just say short-term policy has led to growth or stability when there are a number of factors at play...many of which could be geographic or dealing with larger trends.
-spence