A week ago, the Wall Street Journal reported that North Dakota is on pace to have $700 million in surplus by the fiscal year 2011. The state benefited greatly from the rise in energy and agricultural prices, yet it did not fall off of a cliff when those prices tanked.
Why is this?
I 'blame' fiscal responsibility. North Dakota is holding its state revenues tight to the chest. The state positioned itself to have a diverse set of industries whose job creation would buffer job losses in other sectors.
Despite this overwhelming success, state Democrats are whining that the government is not spending enough money on health care and education. Give me a break.
The unemployment rate is 4% in North Dakota. Most of the 96% should have some sort of health coverage through their employer. Additionally, the other 4% don't have much of an excuse about being unemployed in a state that grew by 7% last year. Let's not support their habit by providing health care. (Yes, I am making a correlation between unemployment and uninsured).
Common Sense Capitalism finds it ironic that as the alarm is finally begin to sound that we as a nation are spending too much money, liberals in a well-situated state want to put plans into action that will get them closer to being like the rest of us, as opposed to the exception.
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