Wednesday, January 20, 2010

Americans move to where your money is

The Wall Street Journal reports:
Every day thousands of Americans vote with their feet on the best places to live and work, and these migration patterns can tell a lot about state economies—and economic policies. United Van Lines has released its annual report for 2009, based on those the moving company has relocated across one state line to another, and the winner is . . .

But first the biggest loser, which was Michigan for the fourth year in a row. More than two families left the state for every family that moved in. The fall of GM and Chrysler has obviously hurt. But two-term Governor Jennifer Granholm has also made her state the test case for the policy mix of raising taxes on higher incomes, increasing regulation, and steering taxpayer money at favored programs like job retraining and renewable energy. It hasn't worked for Michigan, even with the auto bailouts.

Ms. Granholm continues to be a regular economic policy adviser to the White House. Yikes.

The next two biggest net losers were Illinois and New Jersey, while California and New York also continued to have far more departures than arrivals.

Barack Obama's Illinois.