Okay, back when I was in college studying econ, I learned that a recession is defind as two consecutive quarters of negative economic growth. It seems the folks over at the National Conference of State Legislatures (NCSL) were glancing through a different textbook. According to this recent release, NCSL says many states are in a recession because their budgets are a wreck. As their Executive Director explains: “The fiscal situations have declined so much in some states that they appear to be in a recession.” Come again? The always interesting Real Clear Markets has a rollicking smackdown of the NCSL report by Steven Malenga. And then, what’s this? Today we learn that governments have been on something of a hiring binge. Hmm…hiring lots of new workers. Tight budgets. I wonder if there’s a connection??
Michael Flynn is Director of Government Affairs for the Reason Foundation, a nonpartisan think tank whose mission is to advance a free society by developing, applying, and promoting libertarian principles, including individual liberty, free markets, and the rule of law.