Maryland has the second-worst economy in the U.S., CNBC found in its 2026 Worst State Economies in America survey, the results of which were released today. "Economic growth and job growth nearly flatlined in Maryland over the past year," the cable TV business channel noted in its analysis. "[H]igh costs, unpredictable taxes, and growing regulatory burdens," are each a drag on the state's economy, as is an over-reliance on government jobs and federal funds. A new IT services tax walloped businesses, sending many firms packing for greener pastures in other states. Especially hard hit by the IT tax were government contractors, a painful irony in a state where little beyond government has been growing this century.
Some factors in CNBC's criteria certainly hit Maryland where it hurts. These included job growth, economic growth, and the number of major companies headquartered in the state. The first two "flatlined" over the last 12 months, in CNBC's own word, and Maryland hasn't attracted a single new major corporate headquarters this century. In fact, the story has been the number of companies leaving the state. "Budget situation" isn't a category any Maryland elected official would want to delve into publicly. Debt? Maryland and Montgomery County are both in deadly serious trouble on that front, as well.
"Small business survival rates?" Ho ho. The ubiquitous "Going Out of Business" and "Everything must go!!!" signs in Montgomery County storefront windows tell a most tragic story indeed.
"Maryland finds itself in a deep hole in 2026, with no easy way out of it," CNBC concluded. But the picture is even bleaker than the one painted by the already-stinging rebuke of a friendly, liberal news outlet. They didn't even mention the budget apocalypse currently forecast for the state in 2030.
Can we continue to whistle past the graveyard, raising taxes and instituting new ones? Refusing for radical ideological reasons to construct the long-delayed new Potomac River crossing to the Dulles area? Continuing to block completion of our master plan highway system? Keep on losing, and often hardly trying, in the corporate HQ relocation sweepstakes?
We could. And we just might end up topping CNBC's worst list in the future. It's one of the few things within easy reach for the buffoonish incompetents currently running Montgomery County and Maryland. After all, "We're number two - we try harder."
14 comments:
Don't tell the scooter, car or van food & goods cartel delivery drivers.
Not great timing for our physically fit but fiscally (and character) challenged Obama prime to enter the WH Residential Race. He's just got more 'splainin' to do.. He is pretty good in the talking phase, not so much at the doin' part.
This should crush Moore's Presidential aspirations, but it won't, and that's the problem.
This is all because these progressives in charge believe their policies operate in a vacuum. Much like the $15/hr minimum wage, their "surprised" when it doesn't have the intended results so they move on the the next thing all while patting themselves on the back saying "it will work next time".
In the real world, results matter.
The only effective remedy would be for the voters to elect Republicans to run things but that will never happen there. Especially in MoCo where that Dem ideology is so deeply embedded. Plus they hate “you know who” so much they would rather self-destruct than admit he is right.
Also per the article: “In just the last year, the federal government has fired around 25,000 Marylanders who have federal jobs in our state alone,” said Moore, a Democrat. “It’s the biggest federal job cut of any state in the country.”
A race to the bottom, who's with me, Wes? Let's go.
Fair points. Other analyses mentioned DOGE cuts as well.
“In just the last year, the federal government has fired around 25,000 Marylanders who have federal jobs in our state alone,” said Moore, a Democrat. “It’s the biggest federal job cut of any state in the country.”
This was of course caused primarily by a Republican president.
Duh. The past 18 months have been atrocious for the state (and region, and country, and much of the world). We still have another 30 months to go and then however long the recovery period takes this time around.
@7:09 Ask Moore about his Bronze Star. Truth and the left are strange bedfellows.
Oh jeez, I wonder what happened this past year to tank our ranking by 20+ spots. It's such a mystery! Surely it's the IT services tax and not losing tens of thousands of jobs! *eyeroll*
The “recovery period”? You mean the disaster that was the Biden administration?
5:39: The feds fired 23,500 Virginians - but Virginia didn't make this list. Looks like DOGE can't be blamed for this one.
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