Category Archives: K12/AZVA

In early 1900s, progressives from both political parties joined forces to form the Nonpartisan League and create North Dakota’s public bank. One of the original goals was to save family farms from foreclosure by big banks. Thanks to North Dakota’s public bank and its local investment policy, it was the only state whose economy didn’t collapse during the 2008-09 Wall Street crash. (Cartoon published in the Non-Partisan Leader in 1912.)

Both gubernatorial candidates agree that Arizona’s economy is not performing well, but they don’t agree on what to do about it.

Republican candidate Doug Ducey likes to ask audiences how many of them are from somewhere else, and of course, some people always raise their hands. Ducey’s conclusion is that because of Arizona’s great weather, people will continue to move here– despite the shortage of good-paying jobs (and water). Tourism, transplants, and related services have made money for Arizona and will continue to do so, Ducey contends.

To please his corporate donors, Ducey’s economic plan is to push for more unaffordable corporate tax cuts and follow other red state governors– most notably Kansas’ Sam Brownback and NJ’s Chris Christie— to the poor house. He also wants to duck the court order requiring the state to fully fund education (instead of paying back the $1.6 billion that the Arizona Legislature illegally took from schools). Ducey is offering more of Governor Jan Brewer’s failed Tea Party economic policies: give tax cuts even though we’re broke, balance the budget on the backs of the school children and the middle class, hope people will continue to move here, and quietly pray for more water. This is what Ducey calls “kick starting the economy.”

As Democratic Party candidate Fred DuVal aptly points out, Ducey’s plan is based upon “tooth fairy economics” (AKA trickle down economics). Although DuVal is sometimes vague on specifics, at least he doesn’t rely on magical thinking to solve Arizona’s economic woes. In debates and speeches, DuVal talks about growing local small businesses to re-build Arizona’s economy, vows to repay what the Republican Legislature stole from the schools, ties a strong public education system to economic expansion, and suggests student loan relief for teachers.

How can DuVal do all of this? One bold non-partisan strategy is to establish a public bank to keep Arizona tax money at home and use it for local investment…

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