Finding a reasonable, spin-free explanation of what the debt-ceiling debate and credit downgrade really mean is next to impossible.
But the Milken Institute has given it a try. The nonpartisan, independent think tank has published a thoughtful commentary from a panel economic experts from the left, right and center.
Here are a couple of comments about S&P’s downgrade of the US credit rating that I found particularly interesting (Phillip Swagel worked in the Treasury Department during the G.W. Bush adminstration. Jared Bernstein was chief economist and economic adviser to Vice President Joe Biden from 2009 to 2011.)
Tennessee continues to fall behind most other states when it comes to converting its science and technology assets into jobs and companies, according to the Milken Institute’s State Technology and Science Index for 2010.
Tennessee slipped into the Bottom 10 at No. 41 in the 2010 rankings, down from No. 40 in the 2008 index and No. 34 in 2004.
Metropolitan Knoxville rose to 92nd on the Milken Institute’s 2010 list of the best-performing cities in America, up 27 spots from 119th last year.
The regional economy regained some momentum with a slight improvement in job growth — a 0.59 percent increase from April 2009 to April 2010 — and a better-than-average performance in wages and salaries growth.
That’s a mighty slender increase in job growth, but it’s a better showing than most other metro economies.
The nation’s economic recovery is “running out of steam,” but Knoxville is doing better than most other metropolitan markets when it comes to job creation and production, according to study released this week by The Brookings Institution.
Knoxville was one of only 19 metro areas that saw faster output growth in the second quarter than in the first quarter, Brookings reports in the quarterly MetroMonitor, which analyzes the health of the nation’s 100 largest metro economies.