This most recent post is...?
Friday, February 18, 2011
Live experiment underway: Illinois versus Texas
Two powerful states, IL and TX, with different strategies for a balanced budget are squaring off in 2011, with fruitful potential for political learning. One state, IL, is raising taxes about 66%. The other state TX, not as deep in the hole to be sure, is currently planning deep cuts. For political observers this sets up a scenario to test ideologies and see which one works. If in 3 to 5 years IL steps ahead economically and in PQLI terms then a strategy that emphasizes raising taxes will be proven successful. If Texas flies high again in 3-5 years then cutting the budget drastically becomes a validated strategy. No ideology involved here, just a live experiment. Of course, these states and others should do both but that may be too intelligent for the pundits. And yes TX and IL are not the same and they do not have quite the same future potential either but as a rough comparison it is a face-off worth watching...