Is North Dakota’s Government Prepared For Life After The Oil Boom?
Narayana Kocherlakota, the president of the Federal Reserve Bank in Minneapolis, visited the Bakken oil fields last week. Kocherlakota was dismissive of the importance of the oil boom nationally, which is unfair because the story of America’s shale oil/gas revolution is larger than just North Dakota, but setting that aside this note from the end of a report about his visit caught my eye:
Kockerlakota also noted that western North Dakota’s boom will at some point become a bust. He said people should be prepared for that to happen at some point by investing what they have now.
That’s good advice for individuals, and it’s good advice for the state government as well. Growth in the state’s budget is nothing short of alarming, as I’ve written about ad nauseum over the last several years. Yet tax relief has been paltry.
We could expect some growth in the state budget to come along with the oil boom – you can’t see the sort of social and economic growth this state has without growing government – but over the last decade North Dakota’s budget has been growing at a rate faster than the federal government.
When you’re outspending Barack Obama, there’s a serious problem.
We are living in some unique times in North Dakota, and some are taking it for granted. Some are carrying on as if this were the new normal. It’s not. What we ought to be doing is leveraging this moment in time to do something truly unique to truly ease tax burdens which, in turn, would do more to help diversify and expand our economy than decades worth of the “economic development” policies which get so much attention.
The biggest accomplishments of this boom era of leadership in North Dakota may well be an exploding in state spending, and convincing North Dakotans that paying for things at the state level instead of the local level is somehow tax relief.
2012-08-20 08:15:14
Source: http://sayanythingblog.com/entry/is-north-dakotas-government-prepared-for-life-after-the-oil-boom/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Lion’s Mane Mushroom
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, But it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes:
Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity.
Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins.
Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system.
Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome.
Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function.
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules. Today Be 100% Satisfied Or Receive A Full Money Back Guarantee Order Yours Today By Following This Link.
| Online: | |
| Visits: | 1,609,811,959 |
| Stories: | 8,168,661 |
Whistler Blowers, Insiders
