Tue
Jun 11 2013
02:03 pm

Gov. Haslam is touting a recent report saying Tennessee has one of the fastest growing economies in the U.S. But at what cost? And who's paying for it?

There's no good way to determine how many millions of taxpayer dollars the state has spent in the "corporate welfare" shell game to lure business (including some incentives that have not paid off).

Haslam also forgets to mention that:

  • During the recovery from 2010 to 2012, average annual wages grew only 2.6% in Tennessee v. 3.1% nationwide.
  • 14.9% of Tennessee residents are on food stamps, v. 10.2% nationwide.
  • 18.4% of Tennessee's population is on TennCare, the state's version of Medicaid public health care assistance.
  • Another 9.2% of Tennesseans are uninsured.
  • 16.9% of Tennessee residents are living in poverty, v. 14.3% nationwide.
  • Tennessee has the highest combined state and local sales tax in the nation.
  • Tennessee unemployment is consistently higher than the U.S. rate.
  • Tennessee is number one in meth abuse.

But hey, things are looking up for the governor and his wealthy pals, especially now that we have gutted workers comp, eliminated prevailing wage laws and protected negligent corporations from victims seeking justice.

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jbr's picture

With the huge cash reserves

With the huge cash reserves of companies and the profits they were making, and households decreasing their debt, I think the economy was going to improve as soon as households felt they had the discretionary money to spend, regardless of who was governor, president, etc. The degree of improvement could have been impacted by whomever got in those positions.

Stick's picture

We're still in a slow growth

We're still in a slow growth cycle. There will be some improvement but not enough to launch the animal spirits anytime soon.

bizgrrl's picture

Yowza! Let them eat cake.

Yowza! Let them eat cake.

EricLykins's picture

Things that also contribute

Things that also contribute positively to GDP: hailstorms, broken legs, meth lab raids, government studies of GDP, etc.

Andy Axel's picture

But hey, things are looking

But hey, things are looking up for the governor and his wealthy pals, especially now that we have gutted workers comp, eliminated prevailing wage laws and protected negligent corporations from victims seeking justice.

Sort of like what Bredesen's 3rd term would have looked like, short of a few ALEC bills signed into law.

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