One theory, and a plausible one, as to why U.S. Sen. Joe Manchin backed off on a run for governor is that he can read the economic tea leaves as well as anyone else. Read article.
I’ve covered state government long enough to recognize that the state economy consists of a series of down stretches punctuated by periodic upturns.
As a graphic of state revenue trends released last week by the Pew Charitable Trust shows nicely, state tax collections saw a downturn beginning in mid-2015, bottoming out at the end of 2016, then made a partial recovery peaking earlier this year, before falling into the current three-month losing streak — a downturn that Gov. Jim Justice blamed on falling coal production and natural gas prices.
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