OHIO IS SINKING - WHERE ARE YOU GOV. STRICKLAND?

No wonder President Barack Obama’s and Gov. Ted Strickland’s popularity in Ohio is sinking like a lead weigh in water. New job figures for the start of July stink. Again.

 

George Zeller, research analyst, reports today on the economic outlook and he’s quite blunt. Alarmingly bad, he reports again.

 

The new data, writes Zeller, “...are important since they will be the first indication that is available when the ongoing Ohio recession finally ends. That did not happen in the new data. INSTEAD, THE RATE OF LAYOFFS IN OHIO CONTINUES TO INCREASE VERY SHARPLY AT AN ALARMING RATE THROUGH EARLY JULY 2009.” (My emphasis.)

 

He goes on: “The new data indicate that Ohio is still rapidly losing jobs, not gaining them, even during the first week of July. This makes it highly unlikely that there will be a rebound in the tax revenue collections of the state of Ohio during the forthcoming 2009 months.

 

At this time of year, Zeller reports, the number of weekly claims in Cuyahoga County, for example, should be fewer than 1,000. However, he reports them at 2,225, “a level more than double the normal 1,000 rule of thumb that measures a recession” here.

 

Further, “It also exceeded last year’s very high figure by 79 percent.”

 

Ohio had 21,435 new unemployment claims for the first week of July, 170 percent higher level for this time. Our seven county region is at 178 percent higher than the prerecession 1999 level and triple what is should be at this time of year, reports Zeller.

 

 Here is his data report: http://www.nacs.net/~georgez/newclaims070409.pdf [1]

This all means the state revenue will continue to be a serious problem. What’s the answer?

 

Gov. Strickland proposes slots. Our Cuyahoga leaders want to spend a billion on a convention center. Does that give you confidence? No?

 

Dems are afraid of raising taxes on the rich even though Republicans rewarded our most wealthy extra tax relief on the national and state level.

 

It’s making it very hard to be a Democrat these days.

 

Remember that old saying: “Pray for Cleveland.”

Start again if you ever stopped.