Update, 4/4: The editors of the Denver Post agree with my commonsense observation, saying "We would prefer to see Ritter's project hew more to the kind of details espoused in the legislative proposal." What kind of online state spending database are Coloradans going to get if they are going to hope to keep an eye on state government and help find cost efficiencies to save us all money? This is the question of the hour, after Governor Bill Ritter's weak executive order came out yesterday. We're also learning that the Governor is working to kill bipartisan House Bill 1288, which would provide the real detail that is lacking from his watered-down order. The highly impressive new State Representative B.J. Nikkel is the sponsor of HB … [Read more...]
Putting Today’s Economy in Perspective
It's national election season, which means perspective on the economy is badly needed. Thanks to Rossputin for highlighting this article from economists Brian Wesbury and Robert Stein. Read the whole thing for yourself, but interesting tidbits are that family income last year hit its first all-time high in 7 years, income inequality declined faster than at any point in the previous 45 years, and the poverty rate stayed below its pre-1999 norms. Yes, economic growth has lagged, causing the country to flirt with recession. But according to Wesbury and Stein, "these figures bolster the case that the underlying fundamentals of the US economy were sound in 2007, before the Federal Reserve decided to try to inflate our way out of financial … [Read more...]