Hidden in all the craziness of the last few days was the release of the last Philly Fed coincident index of state economies before the recall election. And as it's been for the better part of the last year, Wisconsin has been trailing the rest of the Midwest for the last 3 months.
Wisconsin's anemic 0.60% growth in the last 3 months also is behind the U.S.'s 0.82% rate, and these figures look even worse if you take it back to Scott Walker's inaguration in January 2011. The Philly Fed says Wisconsin's economy has grown only 0.78%, while every other state around us HAS GROWN 4 TIMES AS FAST, as we're well behind the U.S. pace of 5.13%. Wisconsin's the red line on the bottom of this chart.
And all of that tiny bit of growth is contained to the last 4 months. Wisconsin basically flat-lined in 2011, and Uppity Wisconsin has a great link to a report from economist William Fruth, which measures the "economic strength" of all U.S metro areas. You'll see that Walker's damage hit nearly every corner of the state, as Wisconsin's cities fell significantly among the 366 metro areas measured.
When you have metro areas dropping 7-10 percentiles or more (as all metros past Janesville do on this map), you've got a major problem. And you are clearly not "Open for Business." The Philly Fed's Leading indexes are coming up next week, and don't count on much improvement on the near-term horizon.
Well, it will continue to look bad unless you change leadership at the top on June 5. And given these figures, you'd be out of your mind to keep the CEO that kept Wisconsin in the doldrums while the rest of our neighbors have been growing and eating our lunch. So don't let it happen.