The states that voted to put Barack Obama in office are suffering for supporting him. A recently released Investor’s Business Daily report provides some telling data derived from comparing economic conditions in the so-called Blue States (those who voted for Obama) with those in the Red States that voted for John McCain. Income growth in Blue States trails per capita income growth in Red States by about .07%. Job growth, which has been slow nationwide, shows Blue States lagging by .08%.
Home prices in Red States actually climbed slightly by .03%, but Blue State home prices dropped about 3.8%. The latest unemployment rate for Blue Staters stands at approximately 8.5%, a full 1.1% higher than it is in Red States.
The schadenfreude that we who did not vote for Barack Obama can enjoy doesn’t stop with these measurements. Even though the price of gasoline at the pump has fallen “all the way” down to about $3.75 a gallon, the prices paid in most of the Bluest States and cities is still substantially higher than it is in many of the McCain-supporting States.
Reviewing the ten states where the price of gas is the most expensive reveals all but one voted for Barack Obama. Conversely, nine of the ten states where gasoline is least expensive supported John McCain. Blue Staters pay an average of 5% higher to fill up their tanks.
The reason for these disparities really isn’t a mystery: The states that voted for McCain are more likely to be run by Republicans who tend to favor less taxation and a more business friendly atmosphere. When a list of the most business-friendly states was compiled by George Mason University, the results were not surprising. Of the twenty two states won by McCain, all but six ranked in the upper half of the pro-business states. Nineteen of the twenty eight Obama states are at the other end of this scale.
A recent Rasmussen poll found that 82% of likely voters consider the economy to be a “very important” issue that will influence how they vote in November. Barack Obama can make no credible claims to have produced any economic achievements since taking office. Unless he can change this fact, he will lose.