The report, playfully entitled “The Tragedy of the Commons” aftera definitive theory on human behavior of the same name, rates the budgetary vulnerability of fifteen states on four criteria: economy, fiscal health, housing and taxes. Ms. Whitney is said to employ her same unique perspective as she applied to the banking sector to warn that the gap between state spending and state revenue threatens municipal fiscal health, employment growth, and overall economic expansion in a manner underestimated by many, just as was the case with banking. According to Ms. Whitney, growth in these states–the lower-rated of which are mostly the larger economies, such as California and Ohio–will remain feeble precisely because of available salves, such as higher taxes.
A summary from Fortune‘s Shawn Tully appearshere. Of interest to readers, the report rates North Carolina as fourth-healthiest of the fifteen states, scoring a “neutral” grade.
Mike Thelen is an associate in Womble Carlyle’s Real Estate and Real Estate Litigation practice groups. He regularly represents a wide variety of clients, from local governments to businesses, in both state and federal venues throughout North Carolina.
Categories: Economic Development