Rhode Island Economy
WRNI’s Ted Nesi explains how RI has become over-reliant on the Federal Government for budget dollars: [T]he share of Rhode Island’s state budget paid for by the federal government has jumped from 28% to 37% since the recession began; over the same period, the share paid for by state tax revenue (the ol’ General Fund)…
Steve Malanga at RealClearMarkets gives us the national perspective of what’s going on in Rhode Island (h/t Jim Hackett via Facebook): Tucked in between Massachusetts and Connecticut and overshadowed in Northeastern political discussions by states like New Jersey and New York, Rhode Island is barely noticed these days. Still, the Ocean State bears watching. Its…
John Kostrzewa makes a number of excellent points in a recent column: [Two economists’] forecast is important because there is an argument making the rounds in City Halls and at the State House that the recovery of the economy will eventually pull city and state finances back from the brink of disaster. The thinking is…
This episode of Newsmakers makes me wish I’d been there… or had had a means of communicating suggestions to Bill Felkner of the Ocean State Policy Research Institute: Newsmakers 1/28: Stokes, Felkner, Sgouros: wpri.com For one thing, in attempting to present the other side, Tom Sgouros (whom Tim White bills as a “progressive economist”) holds…
Sure, we hear counter-arguments all the time, around here, but Michael Miale of Johnston offers an evidential anecdote that certainly captures the impression of many: [After listing close friends and family,] I then refined the list further into two categories: those who have left the state within the previous 12 months, which is 8, and…
Speaking of the suspicious structure of the “new economy”… the economics of wind have come under some scrutiny, lately. Specifically, the project being questioned is Portsmouth’s windmill: Because the setup was considered net metering under state law, National Grid never negotiated a power purchase agreement with Portsmouth. An agreement would have been reviewed by the…
It seems as if, whenever I cite economic trends in Rhode Island, as I’ve been doing all this week, commenter Russ chimes in regarding studies of the “new economy” or “knowledge economy” by the Kauffman Foundation, as he did here: According to the 2010 Kauffman State New Economy Index Rhode Island ranked 8th nationally in…
Last night, on the Matt Allen Show, I mentioned my work on population trends and Andrew’s work on legislation. Stream by clicking here, or download it. Once again, I didn’t go into the sales pitch, but please email or call (401-835-7156) me to pledge financial support — as subscriptions, donations, or advertising — for 2011…
On Monday, I presented the growth trends among different income groups in Rhode Island. Tuesday, I dipped into the state income taxes that they’ve paid and the numbers of taxpayers leaving the state. And yesterday, I looked at the trends of each income group to get a sense of where the shifts are occurring. So…
Yesterday, I presented two facts: Every year, from 2003 to 2008, thousands of people who had filed tax returns from Rhode Island filed them from somewhere else. Subtracting those who moved in the opposite direction, during that five-year span, the state lost 17,221 taxpayers. Because those leaving have typically had higher average incomes, the state…