Unemployment Rate Falls a Bit, But Future Looks Bleak
Though Maine’s unemployment has dipped slightly in the last month, it’s still 55% higher than this time last year. The future unemployment number looks just as bleak. A new report indicates that our unemployment rate will peak at 9.7 percent by next year – second highest in the region.
Our next Governor must address the root causes of our inability to successfully compete with other states for good jobs. It’s not enough to just declare that “Maine is open for business”. That has been tried in the past with poor results. We need to do a better job managing our State’s resources.
I have the real-world, for-profit financial and managerial experience Maine needs during these tough times.
Memorial Day
This Memorial Day we mourn the loss of the men and women in uniform who paid the ultimate price in defense of our country. We honor those who died to protect the freedoms we enjoy today.
We can also be proud of the hundreds Mainers who currently serve overseas. They do a very difficult job a long way from home, and they do so bravely and with honor.
On this day we remember the fallen. Our thoughts and prayers go out to their families and loved ones. They deserve nothing less than the respect and admiration of a grateful nation.
Maine is Getting “Older”
Recently published data from the Census Bureau paints a startling picture for the future of our State. Maine is now the “oldest” state in the country with a median age of 42 – more than 5 years older than the national average at 36.8. In 2000 we were fourth. Our rate of aging has more than doubled that of the nation.
This trend poses a number of problems for our State economy. Primarily, it suggests we are losing our young people who cannot find work. Fewer workers mean fewer taxpayers and a tougher road ahead to balance budgets – particularly a budget that is consistently mismanaged and rife with excessive and wasteful spending.
To make matters worse, as a percentage of population, Maine has the least number of citizens under the age of 18. Even if we’re able to convince our young people to stay, our prospects for economic stability will continue to worsen unless this unhealthy population trend is reversed.
That’s why we need a new positive attitude toward business development and jobs in Maine. High taxes and burdensome regulations send the wrong message to potential employers, and are strangling the ones we have. We must stop the outflow of families and businesses to have any chance for improved future prosperity.
Creating a better business environment in the State is more than just trying to recruit businesses, or declaring that Maine is “open for business.” We’ve attempted that for years with poor results. Our next Governor must possess strong business acumen, and restructure how Maine government interacts with current and prospective employers. The State regulation and tax systems need to be overhauled to make doing business in Maine easier and less expensive.
Our next Governor must also focus on completing key elements of our infrastructure in order to make Maine more competitive in the new economy. This means more jobs and better opportunities for our families and young people. Only a Governor with proven business and financial management skills can affect the change our State needs.
I’m the only candidate that has the experience necessary to get our State back on-track. I invite you to read more about my 10-part Plan to Help Maine Families. Contact me anytime via email or by phone (207-232-4387). Together, we can make changes to better the lives of all Mainers.
A Message to Supporters
I’d like to say thanks to “As Maine Goes”, one of Maine’s most-read blogs, for posting a recent email that I sent out to supporters. The main website is hereand the post is here.
Maine Cannot Afford Another Politician
It’s true that no one likes to pay taxes. But in Maine, it is a particularly painful experience. By any objective measure, we pay higher rates than most states around the country. High taxes burden Maine’s families and businesses.
Our state government charges 8.5% on every dollar earned over $19,450. That means a full-time worker making just under $10/hour pays the 7th highest state income tax in the country. As a result, many have decided to vote with their feet and move to low-tax, low-cost states.
This is a downward spiral that we cannot sustain. Any competent business manager will tell you what happens when costs increase and revenues decline: you don’t stay in business for long. And that’s a major part of the problem. Our State government should be run by people with real-world experience in finance and business management.
It’s also a big part of why I am running for Governor. Maine literally cannot afford another politician at the helm. We’ll fall farther behind if we don’t have a skilled manager to correct what we’re doing wrong. It’s not enough to shift taxes around, or just talk about trying to recruit businesses to Maine – which has been largely unsuccessful. We need a management overhaul of our State government.
I have a specific Plan to Help Maine Families that will get us back on the right path. I invite you to take a look, and then email me your comments and suggestions, or give me a call at 207-232-4387.
No More Empty Promises. Families Need Results.
Building and managing a successful business is difficult. You have to find the right people, use your resources wisely, make careful decisions, and put in the long hours to make it work. I know because my family has been creating jobs in Maine for three generations.
For too long Mainers have endured a State government which seems to ignore what businesses need to succeed. Year after year, we’re hit with higher taxes and out-of-control spending that put us further behind most states in the country. Businesses locate elsewhere. Workers lose jobs. Families suffer.
The solution is not in the same hollow promises that we’ve heard time and again from politicians. It’s not enough to simply say we’ll do more to encourage businesses to move here. Our families need results.
I’ve worked in finance and business management my entire professional career. My investment business safely managed $5 billion of worker pension funds - more money than what our state spends in a year. Empty rhetoric was never part of what made my businesses succeed.
We need a new positive attitude toward business development and jobs, and a state government that is competently managed to do more with less money.
That’s the reality today. Business managers hone their skills by operating in the real world, adjusting to changing conditions, and living within their means. Our State government must do the same. I’ve lived in that world for many years. I’ll help Augusta do the same.
No more empty promises. No more excuses.
Maine Needs a Proven Manager
Maine is suffering.
Mismanagement of our State government plagues our families. They are burdened with some of the highest state taxes in the country. They search for scarce good jobs in one of the worst state business climates in the nation. They shoulder the weight of years of excessive spending on bloated state programs and services.
Solving Maine’s problems requires more than just trying to recruit companies to our State and tightening budgets. We need a skilled and proven manager who can overhaul how the State is managed at every level. We must build a positive business environment which will attract business investment and jobs for years to come. This major change in direction is best handled by a Governor with extensive experience in finance, business ownership, and prudent management.
I have the personal background and professional experience to lead our great State during these uncertain times. I invite you to learn more about me and my Plan to Help Maine Families.
Here are just a few reasons why I’m best qualified to be your next Governor:
First, I’m a native Mainer — Waterville 3rd generation.
Second, I worked my way through Harvard University, studying economics under world renowned professors and business managers.
Third, our investment business safely managed $5 billion of worker pension funds, more money than our State government spends in a year.
Fourth, I have started, invested in, and managed a number of Maine businesses. These companies have provided good work to hundreds of Mainers and injected millions of dollars into our economy.
I know how hard it is to manage a successful business, especially in Maine. Our problems are deeper than just trying to recruit jobs and tightening budgets. We can’t rely on a band-aid approach to fix our problems. Our struggling families can’t afford to place their State in the hands of an untested manager, and they can’t endure another career politician.
During the next year, I’ll work hard to demonstrate to you that I’m capable, qualified, and ready to lead our great State. I’m always accessible. Call me anytime (207-232-4387), or send me an email: .(JavaScript must be enabled to view this email address). I’d love to see or hear your thoughts on how to make Maine a better place to live and work.
Best regards,
Bruce