As US Credit Rating Falls, Florida’s Rises

18 Aug, 2011 by Dave Blount

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Elections matter. Even as America’s credit worthiness has fallen for the first time in history under President Downgrade, Florida’s under Republican Governor Rick Scott is on the rise:

While the United States credit rating with Standard & Poor’s may have been downgraded recently, Florida’s credit outlook has been revised from negative to stable.

The improvement means better interest rates for the state. So Florida took advantage of that and refinanced some of its old bonds, thereby saving millions of dollars. Since July Florida has refinanced $1.5 billion in bonds, totaling $135 million in savings for the state. …

Tax reductions and state budget cuts were the keys to Governor Rick Scott convincing S&P to revise the outlook.

Florida has no individual state income tax.

Meanwhile, Obama and his fellow Dems propose to solve the economic woes they have done so much to create by raising federal taxes even higher.

On a tip from TaterSalad. Hat tip: Sweetness & Light. Cross-posted at Moonbattery.