While the election season heats up, among endless platitudes about 'getting the economy going' and 'job creation,' let's all take a moment to reflect (sadly) on Scott Walker's return of $810 million in federal aid.
Nationally, even though we've seen 23 consecutive months of private sector job growth, Republican politicians and pundits are claiming the economy is performing poorly. In Wisconsin, where we rank poorly in comparison to the other states in job growth during the recovery, Scott Walker is claiming 'job creation' success based on a slightly declining unemployment rate.
Where would Wisconsin be right now had it taken advantage of $810 million in stimulus? Where would the unemployment rate be? Where would the employment population ratio be? What long-term effects would be incubating and growing due to the massive investment in our public transportation? How many businesses, jobs, and residents will Wisconsin miss out on due to this lack of needed investment during a crucial economic time?
An opportunity cost is "the cost of an alternative that must be forgone in order to pursue a certain action. Put another way, the benefits you could have received by taking an alternative action."
Had Wisconsin taken the alternative action of not electing Scott Walker, Wisconsin would have seen a billion more dollars worth of investment during our country's second worst economic downturn. In the current economic climate, this billion-dollar disappearing-act should eliminate any thoughts of Mr. Walker's ability to govern effectively.
Just one [more] alarmingly significant reason for Wisconsinites to vote against Walker whenever the recall occurs.