State economist Mike Ferguson delivered a 45 minute slide show lecture on Idaho’s and the nation’s declining economic fortunes to the state’s television, radio and print media recently.
His message: “From the standpoint of the economy what we’re going to be experiencing is pain.”
To prove it, Ferguson delivered a series of charts showing lines that rose, rose, rose, leveled out, rose, and then glissaded steeply below zero in the past few months.
The charts, Ferguson said, demonstrate that (1) Idaho’s economy is faced with unprecedented economic volatility; (2) after 20 years of spectacular growth, Idaho has the most rapid decline in economic progress in the nation; and (3) that Idaho is one of the hardest hit states so far during the current national recession.
But don’t get your hopes up for a bailout from President Elect or the new Congress, Idaho.
Ferguson’s economic model already includes an assumption that the Feds will dole out some $550 billion in economic aid to the states next year.