Now comes a report from the Commercial Real Estate Firm, "CoStar Group" the staggering retail store closures the past two years that is expected to continue in 2019. According to the report retailers closed a record breaking 102 million square feet of store space in 2017, then smashed that record in 2018 by closing another 155 million square feet store space.
More of the same is predicted for this year and an analysis by Business Insider reports retailers have already announced more than 6,200 store closures so far this year. Did the Trump-GOP tax cuts help those stores stay alive, turn things around for another day or stop the bleeding? It's always been obvious for those who follow politics that trickle down economics practiced by republicans never achieve its goal of being an economic stimulus of any long range value.
The $800 billion stimulus plan passed by the Obama administration after the 2008 great recession had a greater positive long term impact on the economy, job creation and the federal government's fiscal house than the $1.5 trillion Trump-GOP tax cuts because the stimulus was targeted to the needs of the economy. In other words, there was a plan behind the stimulus, where as trickle down economics is simply a product of ideology.
There are some economic truths that never change and some that are still around supported by lies. And yes my fellow Americans, understanding the past is still the key to a better future.
Sunday, May 12, 2019
Louisiana's Budget Process and Fiscal Responsibility Is On The Right Track.
Thanks to democratic governor John B. Edwards, Louisiana's fiscal house and budget process has more than just turned the corner away from republican Bobby Jindal's fiscal carnage. The billion dollar budget deficits and the fake balanced budgets that Edwards inherited are no more thanks to Edwards policy on fiscal matters and the determination to bring order to the states fiscal house.
The Louisiana state legislature is now in session and once again did not have to face the task of dealing with a budget deficit and some members of the legislature (republicans) said, "this is the easiest budget process that we have gone through." One said, "In comparison to past budget debates, this is a snoozer." The republican controlled state house backed a $30 billion state operating budget that included spending increases for teachers pay raises and other priorities of Governor Edwards. There are some differences that will have to be addressed in the state senate.
The most important thing now for Louisiana and its people is that governor Edwards continue his priorities that move the state and its people forward with fiscal policies that will allow the state to continue to balance the budget and provide the revenue to get the job done The state is still far back from past years of neglect but progress is now being made with leadership, policy and plans that relate to the problems and not the ideology of the failed past. This writer believes governor Edwards understands that the key to a better future is to understand the mistakes of the failed past.
This commentary written by Joe Lorio
The Louisiana state legislature is now in session and once again did not have to face the task of dealing with a budget deficit and some members of the legislature (republicans) said, "this is the easiest budget process that we have gone through." One said, "In comparison to past budget debates, this is a snoozer." The republican controlled state house backed a $30 billion state operating budget that included spending increases for teachers pay raises and other priorities of Governor Edwards. There are some differences that will have to be addressed in the state senate.
The most important thing now for Louisiana and its people is that governor Edwards continue his priorities that move the state and its people forward with fiscal policies that will allow the state to continue to balance the budget and provide the revenue to get the job done The state is still far back from past years of neglect but progress is now being made with leadership, policy and plans that relate to the problems and not the ideology of the failed past. This writer believes governor Edwards understands that the key to a better future is to understand the mistakes of the failed past.
This commentary written by Joe Lorio
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