It was announced last week that Gov. Patrick will be leading a MA Trade Mission to booming Brazil in December.
The Administration’s press release was careful to point out Governors Weld and Cellucci conducted similar missions in the 1990s. It also listed the top CEOs who will be accompanying state officials to warm and breezy South America.
Well this isn’t 1998.
No doubt, there may be positive economic activity resulting from our Governor’s latest trade mission, but as we stand on the brink of economic collapse and fiscal crisis, Gov. Patrick, circumstances beg the question:
What about a Jobs Mission to MetroWest?
On the I-495 Corridor alone, the commercial vacancy rate stands at 40-50%. News report after news report cites that the real unemployment rate for young people under 30, or older workers over 50 is stubbornly higher that the state’s overall 7.3% figure. And, housing along with the related log jam in U.S. credit markets remains the straw that continues to break the economy’s back. Fannie Mae and Freddie Mac are coming back to the taxpayers requesting even MORE bailout money, all while they have the gaul to try and go forward with bonuses for their mediocre executives! This President and Governor still remain incredibly muted on those outrageous bonuses.
Our state’s overall economic strategy can no longer be about trade junkets or state politicians picking winners or losers in favored industries, but allowing all firms to operate more competitively relative to other states and nations.
To repeat, why aren’t our state elected officials conferencing at Northeastern’s Warren Center in Ashland?
Massive Stimulus as an economic strategy has failed. Shovel ready? Forget about it. Most MA public works projects take way too long to design and build. According to the Federal Highway Administration, the normal time to complete an average road and bridge project (from concept to completion) in MA is 7-10 years! After working at MassDOT on 3 different occasions. I’ve seen it with my own eyes.
Bailout Economics as a recovery strategy has failed. We’ve seen in-state companies collapse and thousands of jobs lost after enormous, federal and state government subsidies were doled out, like Marlborough’s Evergreen Solar Bankruptcy or more recently, Beacon Power Co.
The millions upon millions LOST, have not been expended on school building assistance or universal kindergarten or all important classroom aids. Federal and state elected officials send THAT expensive tab to the area PTOs to cover.
GOV: It’s time crony and wasteful stimulus stops at the expense of local priorities. I have 15 Trillion reasons to advocate for the change in approach.