We've moved!

Social Icons

twitterfacebooklinkedinrss feed

Wednesday, June 3, 2009

What Recession? SoDak Economy Chugs Along, Socialist NoDak Chugs Along Faster

Economically, you could argue that 2008 wasn't that bad, at least not west of the Mississippi. The Bureau of Economic Analysis just released numbers that show that, yes, economic growth slowed nationwide, from 2.0% in 2007 to a wimpy 0.7% in 2008. But the economy actually shrank in only 12 states. And we flatlanders kept our economies chugging along pretty well, right beside our mountain buddies: the Plains area growth of 2.0% was second only to the Rocky Mountain area growth of 2.2%. (Ah, country living.) South Dakota had the third-strongest economy in the nation last year, behind only Wyoming and North Dakota.

Don't forget: North Dakota more than doubled our economic growth rate, and they have a state income tax (socialists!). And their growth wasn't just from those lucky oil strikes: BEA says the largest contributors to growth in North Dakota were agriculture, forestry, fishing, and hunting.

Other interesting notes from the report:
  • Alaska had the worst economic performance, with real GDP dropping 2.0% (lesson: don't base your economy on petro-dollars).
  • Real GDP per person:
    • U.S.: $37,899
    • S.D.: $37,690 (I'm evidently not pulling my weight!)
    • N.D.: $37,832
    • Minn: $41,573 (again, I thought income taxes were supposed to kill economic activity)


  1. Those are pretty interesting numbers, Stan! Keep me reminded of them next time I talk about taxes and migration patterns....


Comments are closed, as this portion of the Madville Times is in archive mode. You can join the discussion of current issues at MadvilleTimes.com.

Note: Only a member of this blog may post a comment.