According to a recent study by 24/7 Wall Street, Rhode Island is the worst run state in New England and the 10th worst in America. These results should not shock anyone who lives here.
According to the study.
40. Rhode Island
> 2017 unemployment: 4.5% (21st highest)
> Pension funded ratio: 53.7% (9th lowest)
> 1 yr. GDP growth: +0.7% (15th lowest)
> Poverty rate: 11.6% (20th lowest)
> Moody’s credit rating and outlook: Aa2/Stable
Rhode Island ranks as the worst-run state in New England and the broader Northeast. Rhode Island has accumulated some of the most debt of any state, and is one of just four states in which total outstanding debt is greater than annual revenue. Partially as a result, Rhode Island allocated 6.1% of its general expenditure to interest payments alone, the largest share of any state.
Rhode Island is partially economically hamstrung by relatively high unemployment, a shrinking labor force, and sluggish growth. Last year, 4.5% of workers in the state were unemployed, slightly more than the 4.4% national unemployment rate. Over the last four years, the number of people working or looking for work in the state fell by 0.4%, even as the U.S. labor force grew 3.4%. Rhode Island’s 0.7% GDP growth in 2017 was less than one third of the 2.2% national growth.
But really, this can’t be a surprise. The unions and the Democrats have been fleecing this state for decades. I worked at the Rhode Island State House for a year on the senate side and didn’t have a desk for months and never had a computer. Essentially I didn’t do anything when I worked there. This is the least surprising study of the last decade. Is there any other state in America where the educated have to go to New York City or Boston to find a decent job?
Without Newport, this place would be West Virginia.
But don’t worry the new tolls on 95 should fix everything!
