Deficit Hypocrisy Watch
The WSJ editorial page last Thursday remarked upon:
“…the worst fiscal record of any President in modern times…”
Deficit Hypocrisy Watch
The WSJ editorial page last Thursday remarked upon:
“…the worst fiscal record of any President in modern times…”
That statement is from Wisconsin Governor Scott Walker’s State of the State address. Here are some additional remarks:
Wisconsin’s Department of Workforce Development yesterday released preliminary employment figures for December, and revised figures for November. Both nonfarm payroll employment and private nonfarm payroll employment continue to decline (Figures 1 and 2). Total nonfarm payroll employment is now below levels recorded in January 2011, when Governor Walker took office. The divergence between the national employment trend and Wisconsin’s over the past six months is highlighted in Figure 3.
As Governor Walker begins a tour of the state to tout a new jobs plan [0], it might be useful to review economic conditions in Wisconsin. Briefly put, Wisconsin employment (total, private) continues to decline, and Wisconsin’s coincident indicator continues to diverge from the US indicator (as well as most other of the region’s indicators). Hence, points made in previous posts [1] [2] still seem applicable.
That’s the concluding line from the release issued by the Wisconsin Department of Workforce Development’s Secretary Reginald Newson. The preceding sentence is “The job numbers are a lagging indicator for economic conditions, and we will continue to move forward.” Here are two graphs, with updated DWD data incorporating revisions, and preliminary data for November, that place those comments in context.
Macroeconomic indicators turning downward.
There is a recurring commercial going out over Wisconsin airwaves arguing for progress [0], link to . This impelled me to consult some metrics regarding progress in the state, following up on this
post from a month ago.
Here are some macro indicators for the Wisconsin macroeconomy. In sum, civilian employment is rising (to essentially 2011M01 levels), but nonfarm payroll employment is declining; private sector employment (ex-farm) is flat, while government employment is declining; and leading indicators are pointing to a downturn.
From the Milwaukee Sentinel Journal yesterday (h/t TPM):
Gov. Scott Walker has called off plans to sign the 2011-’13 budget bill at a private Green Bay-area company run by an executive with eight felony convictions, a spokesman announced today.
That is Governor Walker’s answer to the question of how much money rescinding collective bargaining for public unions saves the state government. From the Capital Times:
From WisPolitics today:
Gov. Scott Walker says he may have to again consider laying off state employees if his collective bargaining law remains tied up in the courts for much more than the next week or two.