Ohio Governor John Kasich is proving that sound conservative economic policies put into practice, work! Thanks to Kasich the state of Ohio is moving toward economic vibrancy.
Standard & Poor’s Ratings Services upgraded Ohio’s debt rating from “negative” to “stable” after Gov. John Kasich signed a new budget which will essentially balance the state’s finances for the next two years. And he did it without blaming his predecessor!
Via Doug Ross –
Standard & Poor’s Ratings Services upgraded Ohio’s debt rating just one day after it put the United States on “credit watch negative” on what it calls a rising risk of policy stalemate in the debt limit negotiations.
For Ohio, the rating was revised from “negative” to “stable” after Gov. John Kasich signed a new budget the ratings agency says will essentially balance the state’s finances for the next two years. S&P also said Ohio is experiencing a modest economic recovery which has stabilized revenue.
In making the upgrade, the agency also assigned a “AA+” long-term rating to Ohio’s $416.75 million general obligation bonds… “After a significant decline through the recession, Ohio’s economy is steadily recovering,” according to S&P’s statement issued Friday.
The agency listed factors such as Ohio’s unemployment rate has stabilized and fallen to 8.6 percent through May 2011 from a peak of 11 percent in March 2010. The also state experienced positive employment growth in 2010 and through the first quarter of 2011…
Then there’s Indiana Governor Mitch Daniels whose state is enjoying a 1.2 Billion dollar surplus. And he’s rewarding State employees with a one-time bonus of between $500-$1000.
Governor Daniels said public servants deserve the extra money after reining in the state budget and coming up with a larger than expected surplus.
After the state announced Thursday a higher-than-expected budget surplus, Governor Mitch Daniels says state employees will be rewarded for helping make the surplus possible.
Daniels announced Friday that nearly all state employees would receive a one-time, merit-based bonus. Employees who receive the rating – “meets expectations” will get $500, those exceeding expectations will get $750 and state employees who receive an outstanding rating will receive $1,000.
Daniels says he wants to honor those who’ve helped create one of the country’s most stable fiscal states. “I just can’t tell you how proud I think every citizen should be,” he said, “of this highly efficient and hard-working group of public servants has been doing the last few years and especially during the very difficult days of the last two years.”
The bonuses will cost the state roughly $15-20 million.