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Find out how Cooch took $55,000 from the disgraced "U.S. Navy Veterans Association," in apparent exchange for his promise to get the Virginia Office of Consumer Affairs (which had "notified Thompson's group that it no longer qualified for an exemption from state registration requirements") off the group's back. Can we say "pay-to-play?" Find out more.
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Wed Mar 24, 2010 at 11:25:26 AM EDT
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 The "independent, nonpartisan, nonprofit" Commonwealth Institute just released a new study analyzing the impact of Bob McDonnell's budget on Virginia's economy. It's not pretty.
An estimated 37,000 job losses and reduced economic activity of over $2 billion will likely result from cuts to state spending in health care and education under the budget approved recently by the General Assembly according to a new, comprehensive study released today by the Commonwealth Institute for Fiscal Analysis.
In addition, the analysis estimates that the cuts will result in over $2.2 billion in lost gross domestic product over the biennium and over $1.5 billion in lost personal income.
"We are not just talking about a few jobs here," says Michael Cassidy, Institute Executive Director. "We're talking about causing the layoffs of more people than are currently employed with Northrop Grumman's Newport News Shipbuilding. That's never okay."
Using nationally recognized REMI economic modeling, The Commonwealth Institute estimates that 37,000 jobs would be eliminated under the General Assembly's compromise budget, which now awaits the Governor's signature. As always, heckuva job by the Republicans. |
| lowkell :: Commonwealth Institute: McDonnell Budget Costs Us 37,000 Jobs, Over $2 Billion in Lost GDP |
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