I remember a day when Minnesota had a billion dollar (plus) surplus. Then all the southern Minnesota republicans said it was a "symptom of high taxes." So, they sent out refund checks, rolled back the top tier tax rate (income) and started reducing the local aid payouts which forced local units of government to raise property taxes. Now look where we are!
North Dakota’s cheery circumstance — which economic analysts are quick to warn is showing clear signs that it, too, may be in jeopardy — can be explained by an odd collection of factors: a recent surge in oil production that catapulted the state to fifth-largest producer in the nation; a mostly strong year for farmers (agriculture is the state’s biggest business); and a conservative, steady, never-fancy culture that has nurtured fewer sudden booms of wealth like those seen elsewhere (“Our banks don’t do those goofy loans,” Mr. Theel said) and also fewer tumultuous slumps.
Anyone else sense that Gov. Pawlenty is posturing himself for President in 2012? These are not good times to take a hardline stance like that so that has got to be the only reason he wants to choke the life out of any area that did not vote for him! What a creep!!
Tomasz on December 19, 2008 09:35 AM | Permalink
Comments
Wow.
Posted by: vicarious | December 19, 2008 10:05 AM
You can say that again.
Posted by: Nick | December 19, 2008 10:28 AM
Triple post score for extra-scariness!
Posted by: Tez | December 19, 2008 11:07 AM
Go Unions!!
Posted by: Skud | December 19, 2008 11:55 AM
Plus North Dakota has got a billion dollar surplus
http://www.minnpost.com/politicalagenda/2008/12/04/5022/north_dakota_neighbors_basking_in_budget_surplus_while_we_face_deficit_bigger_than_its_whole_budget
Posted by: -Berv | December 19, 2008 12:54 PM
I remember a day when Minnesota had a billion dollar (plus) surplus. Then all the southern Minnesota republicans said it was a "symptom of high taxes." So, they sent out refund checks, rolled back the top tier tax rate (income) and started reducing the local aid payouts which forced local units of government to raise property taxes. Now look where we are!
Posted by: Tim K | December 19, 2008 02:00 PM
3 reasons for ND economic Good Times:
1. Oil
2. Oil
and
3. Oil
Posted by: ann klefstad | December 19, 2008 02:20 PM
NY Times: A Placid North Dakota Asks, Recession? What Recession?
North Dakota’s cheery circumstance — which economic analysts are quick to warn is showing clear signs that it, too, may be in jeopardy — can be explained by an odd collection of factors: a recent surge in oil production that catapulted the state to fifth-largest producer in the nation; a mostly strong year for farmers (agriculture is the state’s biggest business); and a conservative, steady, never-fancy culture that has nurtured fewer sudden booms of wealth like those seen elsewhere (“Our banks don’t do those goofy loans,” Mr. Theel said) and also fewer tumultuous slumps.
Posted by: Barrett | December 19, 2008 04:19 PM
Anyone else sense that Gov. Pawlenty is posturing himself for President in 2012? These are not good times to take a hardline stance like that so that has got to be the only reason he wants to choke the life out of any area that did not vote for him! What a creep!!
Posted by: nbayuk | December 19, 2008 06:08 PM
For all those who've been laid off, you are not alone.
Posted by: aleasha | December 22, 2008 07:54 AM