11-10-2010, 10:54 AM
Washingtonismoney makes several great points. I agree with everything he wrote.
Pastor: I would not argue that one state was influenced by the recession and another was not. But would you dispute that the recession has hit some states harder than others? Nationwide, housing and related services comprise around 15 percent of GDP. Foreclosures in California are happening at around four times the rate that they are happening in Texas. I think it\'s easy to see how this kind of disparity in the impact of the housing bust could result in a large part of the 4.3 percentage point difference in the two states\' unemployment rates.
Also, are you saying that someone has done an analysis of the effects of the Oregon tax increase on the state\'s revenue situation that controls for the effects of the recession? If so, please provide the link.
I will take a look at the Boston College study that you refer to.
Pastor: I would not argue that one state was influenced by the recession and another was not. But would you dispute that the recession has hit some states harder than others? Nationwide, housing and related services comprise around 15 percent of GDP. Foreclosures in California are happening at around four times the rate that they are happening in Texas. I think it\'s easy to see how this kind of disparity in the impact of the housing bust could result in a large part of the 4.3 percentage point difference in the two states\' unemployment rates.
Also, are you saying that someone has done an analysis of the effects of the Oregon tax increase on the state\'s revenue situation that controls for the effects of the recession? If so, please provide the link.
I will take a look at the Boston College study that you refer to.