More Bad News for Maryland’s Economy
Annapolis, Md. – According to numbers released by the Bureau of Labor Statistics earlier this month, Maryland’s unemployment rate rose above the national average for the first time since 1998. The national average is 6.1% and Maryland’s unemployment rate climbed to 6.4 % in August. Coupled with last week’s bad economic forecast that caused the state to reduce revenue estimates by $405 million, there is not a positive diagnosis for Maryland’s fiscal health.
“This month’s disappointing jobs numbers paired with last week’s $405 million revenue write down are continued evidence of the wrong direction the O’Malley/Brown Administration is taking Maryland. The continual drumbeat of increased taxes and fees is taking a toll on Maryland’s families and businesses,” said House Minority Leader, Nic Kipke (Anne Arundel County).
When asked last week about the expected revenue shortfall the state is facing, Anthony Brown told the Baltimore Sun that it was the “Bush Recession,” and that the state would “tighten our belts.” The revenue shortfall has been called “very significant,” by the Director of the Bureau of Revenue Estimates.
“It’s laughable that Anthony Brown would blame George W. Bush for Maryland’s poor economic estimates and bad economy. The unemployment rate in Maryland has been lower than the national average since before George W. Bush left office,” said House Minority Whip, Kathy Szeliga (Baltimore and Harford Counties). She continued, “And after 80 tax, toll, and fee increases over the last eight years, Anthony Brown finally admits that it is time to tighten the belt. That rings hollow and sounds like election year rhetoric.”