The Rhode Island Economic Story

In the second paragraph of the following quotation we see why Rhode Island will find another bottom to hit as the rest of the country recovers economically (hopefully):

“With the exception of the tax proposals, I’m not sure what else has been put on the table,” [Department of Administration Director Gary Sasse] said. “If you don’t change our economic climate, deficits are going to get worse, and you’re not going to sustain the investment in services we’re currently making … I think if we make decisions now to position ourselves we could take a quantum step to improve our competitiveness.”
But Sasse’s position was largely drowned out yesterday by a chorus of opposition, which included an economist from the Federal Reserve Bank of Boston.

The article doesn’t explain the reason that a Boston bank VP was at the hearing, but it’s mainly the chorus that’s of interest — drowning out the soft-spoken voice attempting to explain that the various interest groups are going to lose the things that they’re seeking to protect if we don’t take action.

0 0 votes
Article Rating
Subscribe
Notify of
guest
2 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
chuckR
chuckR
12 years ago

‘Critics blasted the governor’s plan as “radical” and “unthinkable,” while administration officials urged the General Assembly to muster the “political courage” to act in the best interests of a beleaguered state.’
There are no best interests of a state. It is a thing, not a person. No corporation has the right to life, liberty and the pursuit of happiness. No state has those rights either. Its time the GA acts in the best interests of the 90% of the PEOPLE who are not employees of the state or a local government. That may be unthinkable to the critics.

George
George
12 years ago

“Its time the GA acts in the best interests of the 90% of the PEOPLE who are not employees of the state or a local government.”
And that doesn’t begin with new taxes, fees or redistribution schemes!

Show your support for Anchor Rising with a 25-cent-per-day subscription.