New Jersey’s Economic Growth Among Country’s Worst: New Report
New Jersey’s gross domestic product grew a mere 0.4 percent in 2014, ranking 46th in the nation.
By TOM DAVIS (Patch Staff)June 13, 2015
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New Jersey’s economy is barely ticking upward, with its growth ranking near the bottom in 2014 – and falling far below the national average.
New Jersey’s gross domestic product grew a mere 0.4 percent in 2014, ranking in a three-way tie for 44th in the nation, according to the Bureau of Economic Analysis. The nation’s real GDP grew 2.2 percent in 2014 after increasing 1.9 percent in 2013.
The state’s growth slowed from previous years, In 2012, the GDP grew 2.5 percent, and in 2013, there was 0.8 percent growth.
The state had the slowest growth of any state in the Mideast region, way behind New York’s 2.5 percent GDP growth.
Gordon MacInnes, president of New Jersey Policy Perspective, a liberal Trenton-based think tank, told NJSpotlight that the state needs to invest more in education, public transit and transportation infrastructure, as well as colleges and universities.
“You can’t create a strong economy and create jobs without a strong foundation,” MacInnes said told the publication.
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“Invest” my <synonym for donkey>!
Spending more money — stolen from over taxed residents of the Pepuls Republik of Nu Jerzee — will not spark any type of growth. Except it the taking class of teachers’ unions, other Gooferment unions, politicians, and bureaucrats!!!
Cut the minimum wage.
Cut the corporate and individual tax rates.
Convert Gooferment pensions to 401s like private businesses are doing.
Introduce a meaningful school choice voucher program.
Reduce education expenses by consolidation of the 600+ “school districts” into 21 county ones.
UNWIND the regulatory state.
End the “(pseudo) War on (some) Drugs” and pardon all non-violent drug offenders.
Eliminate property taxes to fund Gooferment Skrules. (Eliminate Gooferment Skrules entirely!)
And, my personal favorite, end the inheritance tax.
THEN watch the Stte become a magnet for people, business, and happiness!
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