From President Obama’s remarks today on energy and cap-and-trade legislation, holding up California as a model for the rest of the country:
Think about that. California — producing jobs, their economy keeping pace with the rest of the country, and yet they have been able to maintain their energy usage at a much lower level than the rest of the country.
Their economy keeping pace with the rest of the country? That’s just not the case.
From Bureau of Labor Statistics, “Regional and State Employment and Unemployment: May 2009“:
- The largest over-the-month decrease in the level of employment occurred in California (-68,900), followed by Florida (-61,000), Texas (-24,700), and Michigan (-23,900).
- Michigan again reported the highest jobless rate, 14.1 percent in May. The states with the next highest rates were Oregon, 12.4 percent; Rhode Island and South Carolina, 12.1 percent each; California, 11.5
percent; Nevada, 11.3 percent; and North Carolina, 11.1 percent.
- The California, Nevada, North Carolina, Oregon, Rhode Island, and South Carolina rates were the highest on record for those states.
From The Wall Street Journal, Review and Outlook, June 26, “The Albany-Trenton-Sacramento Disease”:
- California’s deficit for 2010 is projected at $33.9 billion.
- California’s debt burden has multiplied so fast that it now has the worst bond rating of any state.
- New York ranks first, California second and New Jersey third in moving vans leaving the state.
Pass Waxman-Markey and your state too can have California’s economy.
And the President regards that as an argument in favor?
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