Despite efforts by policymakers to diversify the state’s economy, Arizona still rides on the boom and bust of the housing industry. And when this sector is inactive, its silence – and all the troubles that entails – reverberate throughout the state.Read More »
Arizona lost 800 private sector jobs last month as the state continues to find its financial footing to finally recover from the recession.Read More »
More than 1.1 million Arizonans who depend on the Supplemental Nutrition Assistance Program – better known as food stamps – will see their benefits reduced Friday in a long-planned national cut.Read More »
Cities can’t wait for new federal funding and updated policies needed to advance transportation projects, Mayor Greg Stanton told officials from around the country Monday.Read More »
Treasury Secretary Jacob Lew warned Thursday of a “potentially catastrophic” hit to the economy if the nation reaches the debt limit next week and defaults on its obligations.Read More »
2010 decision to mortgage state’s assets threatens cash reserves
Borrowing billions of dollars allowed Arizona to limp through the worst financial crisis in its history. But the decision to mortgage state assets that include the House and Senate buildings has an unwanted underside: It precludes the state from having significant cash reserves.
Arizona lawmakers, business leaders and economists face a daunting task as they try to make any changes to the state’s income tax rates and tax system.Read More »
The old adage — “If it doesn’t kill you, it will make you stronger” — generally applies to biological organisms. But it could also apply to the financial system in Arizona, which has had 14 bank failures since 2009.Read More »
Arizonans find lots to criticize amidst a few glimmers of praise
A huge rise in deportations. Regulatory overreach. Borderlands decimated by off-road vehicles. Operation Fast and Furious. More than four years after Barack Obama became president, liberals and conservatives alike have lots to criticize about what has happened in Arizona during his presidency.
Three years after voters approved Proposition 100, the naysayers’ doom-and-gloom predictions about the consequences of the temporary sales tax hike haven’t panned out.
Arguments against Gov. Jan Brewer’s proposal for a temporary 1-cent sales tax increase often veered into predictions of catastrophe. Many said it would severely hamper the state’s economic recovery efforts, that the tax hike would herald a future of tax-and-spend policies in support of an expanding and bloated government that would scare off businesses, and push Arizona toward bankruptcy and turn the state into another California.