Hats-off to Stephen Moore for his insightful analysis in the Wall Street Journal of the very different economic tracks of Maryland and Virginia. In addition to sharing a border, these two states uniquely are impacted by the "cash-dispenser" in Washington, D.C. Each state also has a powerful Governor that is the Chairman of their respective political party's Governors Association.
But, that's about where the similarities end. Virginia has taken a conservative approach – lower taxes, encourage business investment, reduced government spending – under the leadership of Republican Governor Bob McDonnell. Maryland's Governor Martin O'Malley is an "unapologetic" tax-and-spend liberal who has followed the Obamanomics Keynesian model of more spending, higher taxes, and more debt.
Since I'm writing about it and highlighting Stephen Moore's analysis you probably can guess there is a pretty dramatic tale to tell – and a message about the question in front of the voters in 70 more days. Here's a take away excerpt and a link to the entire article:
The most devastating recent assessment of Maryland's fiscal condition came last month from Peter Franchot, the state's comptroller—and a Democrat. 'The Maryland economy is in trouble. . . . Our current strategy—one that depends excessively on public sector jobs and government spending—is no longer working. To maintain our commitment to better public schools, safer communities, a cleaner Chesapeake Bay and other essential priorities, Maryland needs a fundamentally new approach to job growth, one that is focused squarely on the private sector.'
That sounds a lot like the Bob McDonnell approach in Virginia—and the one promoted nationwide by Mitt Romney and Paul Ryan." Read more.
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for September 1st, 2014 | John Ransom
In Other News: Mary Landrieu Connects with Millennials; Lists Parent’s Basement as Louisiana Address | Michael Schaus
In Other News: Warren Buffet's Secretary Unavailable for Comment on Burger King Tax Move | Michael Schaus