{"id":586800,"date":"2021-07-09T10:20:38","date_gmt":"2021-07-09T14:20:38","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=586800"},"modified":"2021-07-09T10:20:39","modified_gmt":"2021-07-09T14:20:39","slug":"cuomos-new-york-has-the-worst-economic-rebound-in-the-nation-slowing-other-states-recoveries","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/cuomos-new-york-has-the-worst-economic-rebound-in-the-nation-slowing-other-states-recoveries\/","title":{"rendered":"Cuomo\u2019s New York Has The Worst Economic Rebound In The Nation, Slowing Other States\u2019 Recoveries"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcuomos-new-york-has-the-worst-economic-rebound-in-the-nation-slowing-other-states-recoveries%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=586800&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/1F619D3B-FBC3-4D90-9FCF-5B48DE6D025C_1_201_a.jpeg?w=1200&amp;h=800&amp;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\" \/><\/div>\n<p><span>New York is experiencing the most sluggish economic recovery in the United States \u2014 a reality that is reportedly slowing other states\u2019 rebounds.<\/span><\/p>\n<p><span>The <\/span><a href=\"https:\/\/www.cnn.com\/business\/us-economic-recovery-coronavirus\"><span>Back-to-Normal Index<\/span><\/a><span> \u2014 a project of Moody\u2019s Analytics and CNN Business tracking economic recovery from the lockdown-induced recession \u2014 shows that states which avoided or quickly removed COVID-19 regulations outperformed states that lingered in reopening.<\/span><\/p>\n<p><span>Two weeks ago, the project <\/span><a href=\"https:\/\/www.dailywire.com\/news\/report-some-red-states-economies-already-stronger-than-they-were-before-covid\"><span>indicated<\/span><\/a><span> that South Dakota and Florida became the first states to surpass their pre-recession strength, respectively operating at 106% and 101% of former capacity. Gov. Kristi Noem (R-SD) never mandated a lockdown, while Gov. Ron DeSantis (R-FL) was among the first to end his lockdown order.<\/span><\/p>\n<p><span>Today, South Dakota is performing at 109% pre-COVID strength. Idaho (104%), West Virginia (101%), Montana (101%), and Florida (101%) continue to lead the nation in economic recovery.<\/span><\/p>\n<p><span>Two weeks ago, New York ranked last in the nation, operating at only 79% of its former capacity. Now, at 83% capacity, New York continues to rank below every other state.<\/span><\/p>\n<p><span>CNN Business <\/span><a href=\"https:\/\/www.cnn.com\/2021\/06\/23\/economy\/new-york-back-to-normal\/index.html\"><span>explains<\/span><\/a><span> that New York\u2019s slow economic recovery is restricting the remainder of the United States from rebounding:<\/span><\/p>\n<blockquote readability=\"19\">\n<p><i><span>In 2019, before Covid hit, New York had the third-strongest economy among US states, lagging only Texas and California. The state\u2019s gross domestic product \u2014 the broadest measure of economic activity \u2014 was nearly $1.8 trillion, on par with the GDP of Italy. More than $1 trillion of that came from economic activity in New York City. The state contributed more than 8% to America\u2019s overall GDP that year.<\/span><\/i><\/p>\n<p><i><span>In 2020, New York\u2019s GDP dropped to $1.7 trillion. That might not sound like a big difference, but we\u2019re dealing in trillions of dollars here. When states that are economic powerhouses underperform, it\u2019s not great for the recovery of the entire nation.<\/span><\/i><\/p>\n<\/blockquote>\n<p><span>While the United States is experiencing more rapid output growth than other Western powers, the economic liberty of its citizens \u2014 as measured by the Heritage Foundation\u2019s \u201cIndex of Economic Freedom\u201d \u2014 is <\/span><a href=\"https:\/\/www.dailywire.com\/news\/economic-freedom-index-shows-the-united-states-posting-worst-performance-ever\"><span>falling<\/span><\/a><span>.<\/span><\/p>\n<p><span>The primary driver of the United States\u2019 disappointing performance in the ranking is higher levels of government debt \u2014 much of which occurred through omnibus COVID-19 relief bills passed under the Trump and Biden administrations. Though the United States maintains relatively high rankings in categories such as business freedom, property rights, and labor freedom, \u201cintrusive regulation of the health care and financial sectors\u201d is also a bottleneck for greater prosperity.<\/span><\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York is experiencing the most sluggish economic recovery in the United States \u2014 a reality that is reportedly slowing other states\u2019 rebounds.The Back-to-Normal Index \u2014 a project of Moody\u2019s &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2314325,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/1F619D3B-FBC3-4D90-9FCF-5B48DE6D025C_1_201_a.jpeg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"Cuomo\u2019s New York Has The Worst Economic Rebound In The Nation, Slowing Other States\u2019 Recoveries","footnotes":""},"categories":[],"tags":[],"class_list":["post-586800","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/1F619D3B-FBC3-4D90-9FCF-5B48DE6D025C_1_201_a.jpeg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"Cuomo\u2019s New York Has The Worst Economic Rebound In The Nation, Slowing Other States\u2019 Recoveries","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/586800","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=586800"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/586800\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2314325"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=586800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=586800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=586800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}