• The Economic Farcical Clown Show Commonly Known As Connecticut

    April 13, 2024
    Hartford Skyline, Public Domain.

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    This past week, the poor, beleaguered taxpaying citizens of Connecticut were treated to the public sham and spectacle of the state’s leading political brain trust cursing and condemning supermarket operators for “price gouging”.

    Since just about every single one of these people has likely never done anything whatsoever in the realm of private-sector gainful employment, or can tell the difference between a profit and loss statement and a kite, it does not dawn upon them (or just about anyone in the Connecticut Legislature) that bad and foolish energy policy is the root cause of the majority of economic problems. All products and services are affected by fuel. Fuel costs money. Fuel costs increase expenses. Expenses impact prices. And as my friend and colleague Tony De Angelo often says, it's as simple as that, and just as difficult. And unfortunately, these concepts are much too difficult to comprehend for just about every elected official in the state.

    Welcome to the pie-in-the-sky fintech-wind powered-climate-change-terrified economic woke-liberal universe, where simple economic facts understood by high school business students are difficult to comprehend for many of the liberals/Democrats and Socialists in our country. We can see this from the complete economic failures of the pathetic, inept, and corrupt Biden Administration featuring runaway inflation, a failed green energy plan, excessive taxation, and a crippling $34 trillion dollar National Debt.

    As apples do not follow far from trees, let us now focus on the vast economic wasteland with an omnipotent one party Democrat-ruled government known as Connecticut, with socialistic pressure on legitimate businesses, high taxation, a loss of jobs, a poor and uncoordinated infrastructure, an imperious administrative state, excessive state mandates on its cities and towns, and the excessive economic costs of rampant and unchecked crime that the state does not wish to control and frequently explains away in its state-run media broadcasts.

    As just about no legacy–reward the loyal with government jobs media outlet in Connecticut can be trusted with any consistent objectivity, one is forced to look outside of the state to find honest and objective information as to what is actually happening. In this connection, these economic facts were presented in the "2024 Rich States, Poor States ALEC-Laffer State Economic Competitiveness Index © 2024 American Legislative Exchange Council report".

    Screenshot, ALEC.

    This report presents pure and objective economic facts for all 50 states.

    When reading the report, one can see the differences between "liberal Blue states" and "conservative Red states". As a spoiler alert, Connecticut did badly in this survey. According to the ALEC-Laffer State Economic Outlook Rankings, 2024, Connecticut is ranked 40th out of 50 states that is based upon equal-weighting of each state’s rank in 15 policy variables for this category. Connecticut ranked 48th out of 50 states for the ALEC-Laffer State Economic Performance Rankings from 2012-2022, based on its State Gross Domestic Product that measures cumulative growth over this time frame. Since it was only 33.59%, its non-farm payroll employment showed a 0.91% growth over the same time frame, and its absolute domestic move-out of state rate reflected a loss of 181,117 people over the same time frame (see page 12 in the ALEC report).

    Also, there is one horrible elephant in the state-run media newsroom that this veritable Ministry of Information does not want for you to focus on... Illegal Immigration.

    Just how many illegal migrants are being transported into the state?

    Credible reports from real citizens tell us of squatters and break-ins happening in formerly safe neighborhoods. Every bordering Blue State to Connecticut unabashedly admits its mismanagement and incompetence in not being able to stem the tide of the Biden open-border policy. But we have none of those issues in the Land of King Ned Lamont the Unaccountable! He keeps Connecticut safe! Much like he mismanaged Covid-19 while busily figuring out how he could rip off Pandemic money. After all, it's simply the best state to be in!

    Regardless of the state-run media spin that Connecticut residents pay for with their tax dollars, even an unobservant observer can tell what is happening in the state by just living here from day to day. Connecticut is graced with high state and local taxes, a high minimum wage, a high debt service as a share of tax revenue along with it, also not being a right to work state. Connecticut is perpetually in a recession of its own making. Connecticut is always at the bottom of most business and economic categories. Connecticut still has over $100 to $150 billion dollars in short- and long-term debt along with unfunded liabilities. Economic facts are difficult to accept to the economically illiterate Democrat Party at any level of government. Tax more, spend more, promise more, demand more, rule as dictators never compromising on anything at all especially economic issues is their platform. It is a platform that has failed miserably but is endorsed at all costs to the point of economic ruin.

    While the above-mentioned report is proof of the failures of Democrat led states such as Connecticut, one really does not need it. Just venture a little way into the state and draw your own conclusions.

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    Bob Swick

    I am an Adjunct Professor of Business and Economics and have taught for 41 years for several different colleges and universities. I have a Bachelors of Science in Journalism and a Masters of Science in Economics. I have written about economics and political issues in my blog "Swick Speak" since 2006.

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