OUR ECONOMY MARCHES ON – AT 7:15 P.M. ET: No matter how much the Obamans try to distract us from reality, it keeps creeping back in. Some blunt facts:
Personal income in 42 states fell in 2009, the Commerce Department said Thursday.
Nevada's 4.8% plunge was the steepest, as construction and tourism industries took a beating. Also hit hard: Wyoming, where incomes fell 3.9%.
Incomes stayed flat in two states and rose in six and the District of Columbia. West Virginia had the best showing with a 2.1% increase. In Maine, Kentucky and Hawaii, increased government benefits, such as unemployment insurance and Social Security, offset drops in earnings and property values.
Please note that one of the few areas to show increased income was the District of Columbia. Of course. You hire all those new government workers, income in that area goes up. Doesn't do a thing for the real economy.
The key factor is unemployment. Florida, obviously a major political state, is especially hard hit:
Florida's unemployment hit 12.2 percent in February, the highest rate on record, soaring past even the rates recorded in the 1973-1975 recession, the state work force agency said Friday.
February's rate rose a 0.2 percentage point from the January revised rate of 12 percent. More than 1.26 million people are out of work in the state.
And with the federal government digging deeper in debt, our national picture is hardly encouraging. This is the time for Republicans to come up with a comprehensive economic plan and present it to the American people.
March 26, 2010