Are the unvaccinated responsible for the slowing economy? Not really
The Atlanta Fed’s GDPNow tracker downgraded its forecast for Q3 GDP growth again: it has now dropped from 6 percent at the end of July to 1.3 percent now. Then came the…
I wrote the op-ed below, on Minnesota’s economy, for some of the free suburban weeklies in the Twin Cities. It is beginning to appear in those papers. One of American Experiment’s key themes is that Minnesota’s liberal tax, spending and regulatory policies are dragging down the state’s economy. In the op-ed, I cite some basic economic data that come from our soon-to-be-published comprehensive report on Minnesota’s economy.
Minnesota is a blue state. That means that we have high taxes, lots of government spending, and endless government regulations. How is that working out for Minnesotans? Not very well. Consider the following, from the Brookings Institution, the Bureau of Labor Statistics, the U.S. Bureau of Economic Analysis, and the Internal Revenue Service:
Minnesota once had a strong, diverse economy that was the envy of most other states. But in recent years, Minnesota’s economic performance has lagged. It is telling that the last Minnesota company to join the Fortune 500, United Health Group, was founded in 1977. It has been nearly 40 years since Minnesota gave birth to a company that went on to become one of the country’s 500 largest.
Minnesota can do better. In fact, Minnesota has done better. But Minnesotans can’t expect to keep following the same policies and get different results. In order to do better, Minnesota needs to re-think its high-tax, high-spending, high-regulation approach. Being blue is bringing Minnesota down.