….That last line also blows apart Gov. Walker’s argument that “it’s working” because Wisconsin has unemployment below the national rate. As Prof. Chinn mentions, Wisconsin is usually around 0.9% below the national rate, so for Wisconsin to sit at 5.9% and the U.S. at 6.3% means the state is underperforming.
And the fiscal effects of these ALEC-run states are starting to set in past slow employment growth. Just last week, the state of Kansas had its bond rating downgraded after April revenues fell short of projections by nearly $93 million following income tax cuts under Gov. Sam Brownbnack. North Carolina also followed the ALEC, tax-cutting agenda, and also has had a budget deficit blow up, as revenues are now projected to be $445 million short….