THANKS FOR THE ECONOMIC DOWNTURN, S.C. LEGISLATURE …
FITSNews – December 2, 2007 – We’ve written on numerous occasions about the deficit-inducing spending orgy that our state’s short-sighted (and so-called Republican) lawmakers have engaged in over the past three years. We’ve also written about pessimistic economic forecasts at the national level that portend bad things for South Carolina’s economy. Now we read in the pages of La Socialista:
South Carolinaâ€™s economic health is threatened in the coming year as the old problem of declining manufacturing meets a new reality of stalling retail sales and a deteriorating construction market. And the woes of the housing market are spreading into finance, witnessed by Bank of Americaâ€™s announcement in November that it will close a 105-employee mortgage bundling office in Florence in early January.
Over the past three years, state lawmakers could’ve pumped anywhere from $2-3 billion into our state’s economy. They could’ve shored up our families’ and small businesses’ bottom lines and made us more competitive as a state – not just in creating new jobs, but in keeping the ones we’ve got. They could have done all that, but didn’t.
With the exception of a few social welfare programs and a populist “tax shift” that isn’t going to create or protect one single job, our General Ass-embly spent every last red cent of the money we entrusted them with, including $1.5 billion in last year’s budget alone.