Bruce Lang makes an excellent point:

Now something unexpected has happened that can help us greatly: Almost every state in the country now is having big financial problems! So if Rhode Island has the courage and discipline, we can legitimately catapult our great little state into the upper ranks of states’ standings. Because of our small size, we can reverse our poor performance more easily than most states.

Lang’s prescription is hardly revolutionary — lower government expenses, cut taxes, help businesses, and increase government transparency — but it would take an electoral revolution to bring it about. Frankly, I don’t think those who prioritize the future above preserving the perks of the past have sufficient numbers (with sufficient motivation) to spur the turnaround.
Being the first into recessions and the last out isn’t so bad for those who aren’t truly touched by it in any case.