North Dakota is America's Economic Superstar
North Dakota, the state with the nation's lowest unemployment rate, capped a decade of economic prosperity with dramatic population growth in its biggest cities. The superstar of North Dakota is its economy. The state's unemployment rate hasn't touched 5% since 1987 (see chart above). The state's per capita income rose over the decade from 38th in the nation to 17th, the biggest advance of any state.
"We've had an absolutely stellar few years," says University of North Dakota economist David Flynn. "In all honesty, when you look ahead, we should continue to do well for quite a while."
North Dakota is enjoying an oil boom in the western part of the state, drawing workers from across the country. Williston, in oil country, grew 17.6% to 14,716. The oil windfall has created a $1 billion state budget surplus.
Agricultural — 90% of the state's area is used for farms and ranches — is productive and profitable, making the state a top exporter of wheat and other crops. Federal agriculture subsidies add nearly $1 billion a year. North Dakota is one of the few states to add manufacturing jobs over the decade. Bobcat, maker of farm and construction equipment, is headquartered in the state.
"We don't have big factories like Gary, Ind., or steel mills that are hard to retool," Flynn says. "We have smaller plants that are some of the most efficient in the world." When factories closed elsewhere, production was often moved to North Dakota."
9 Comments:
Yahoo for North dakota--also a state that gets back about $1.68 from the federal government in outlays for every dollar it sends to DC.
That worked out to $4,400 per capita--per capita!--in 2005, the latest year for which figures are available, according to the Tax Foundation.
It would be conservative to assume that North Dakota is now getting federal stimulus to the tune of $6,000 per capita or more.
Imagine--when a North Dakota family of four sits down at the table, there is (on average) about $24,000 of federal lard floating around the house.
Then they tell the world they are prospering not because they get residents of urban states to funnel money into North Dakota and its rural infrastructure, but because they have low taxes and work hard, and have rosy cheeks, and are drilling aggressively for oil.
I believe in drilling for oil, and I believe in the lowest taxes possible, but this North Dakota story is one for right-wing baboon crowd following Glenn Beck.
Without federal lard and subsidies, North Dakota would depopulate and most towns would blow away.
http://www.taxfoundation.org/research/show/22685.html
here is the cite for above--hey, getting federal lard pays off, at least for North Dakota.
We get the classic idiocy that some states get back more in Federal funds than they pay. That comes with a progressive tax system. So, if Benjamin objects to not having some per capita return from the Feds, he should fight for a flat tax system. In fact, Benjamin should fight letting the states collect the taxes to support their spending and leave the feds out all together.
of course, Benjamin has not bothered to think all this through, so he has no idea of the ramifications or the consequences.
Benji,
"It would be conservative to assume that North Dakota is now getting federal stimulus to the tune of $6,000 per capita or more."
Yes, remind me again how many Republicans voted for your boyfriend's stimulus program?
As Rick points out, and I have pointed out many times, the disparity you're always whining about is mostly due to the progressive income tax system your boyfriend champions.
Blame yourself.
Rick/Pual-
Whether I believe in progressive taxes or not is irrelevant to this discussion. The fact is North Dakota gets huge federal stimulus every year--and that accounts for their "success" not their rosy-cheeked go-getter attitudes.
I am fine with flat taxes, btw. I am not fine with some states subsidizing other states--such as those lard-snufflers in North Dakota--not just for years on end, or decades on end, but for generations on end.
We have created an enfeebled, knock-kneed, subsidized, mollycoddled economy in North Dakota, utterly dependent on continuing federal infusions of lard to survive.
North Dakota would depopulate without federal lard.
My political views, or flat taxes, would not change that reality.
Why not address the reality of my statement, rather than incorrectly stating I do not support flat taxes.
Yes, in a two-party system, I held my nose and voted for Obama. I see McCain wants us to intervene militarily in yet another country--this time Libya--so my vote might not have been in vain. Who knows how much money we would be spending now in various military entanglements had McCain gotten in there. The list of countries in which he wants us to get engaged militarily is in the dozens.
"The fact is North Dakota gets huge federal stimulus every year--and that accounts for their "success" not their rosy-cheeked go-getter attitudes."
Oh Benji, you're just jealous because all those Marxists you vote for in California have bankrupted the state. You're not going to get a penny in bailout money.
"We have created an enfeebled, knock-kneed, subsidized, mollycoddled..."
Do you have a macro that inserts this same lame description in nearly every one of your posts?
"Yes, in a two-party system, I held my nose and voted for Obama."
Oh, bullshit. It was love at first sight, you were smitten with Hopeandchange like millions of other mindless voters. You are still constantly looking to credit him with any daylight in the economy.
Hey, how's that 2nd term balanced budget prediction working out for you? And aren't you disappointed he is rejecting the GOP budget cuts? Are you proud of Rand Paul's plan to cut $500 billion from the budget?
You keep ignoring my questions. Your failure to answer tells us all we need to know.
"Why not address the reality of my statement, rather than incorrectly stating I do not support flat taxes."
Your preferences are immaterial, you support the people in power who defend progressive taxation to the last ditch.
Like your boyfriend.
North Dakota is an economic superstar yet, food stamp(SNAP)use was up 19% in 2010 in the state!
Go food stamps!
So, first we give federal subsidies to ND farmers, and then we gave them food stamps to buy the food we subsidized. Then they say they are rosy-cheeked economic superstars!
Yes, and Charlie Sheen a non-nonsense role model for American youth.
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