Tax revenue in more than half of U.S. states still hasn’t fully recovered from the recession that ended five years ago, according to a report by the Pew Charitable Trusts.The grand failure of Keynesian economics.
Collections in 26 states remained below their 2008 highs as of the end of 2013, with five states more than 15 percent short, according to Pew, a Washington-based nonprofit group that researches public policy. Alaska was furthest off, 60 percent. Wyoming was down 28 percent; Florida, 20 percent; New Mexico, 18 percent; and Louisiana, 15 percent.
Wednesday, May 21, 2014
Pew Study: Recession Lingers in 26 States as Revenue Lags
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