We Tennesseans got some good news recently: Moody's has boosted Tennessee's bond rating, which is recognition of good fiscal management. That means that when the state issues bonds on large projects, it can get a better interest rate. Moody's raised the rating from Aa2 to Aa1, which is its second highest rating.
But at the same time, it downgraded the state's outlook from positive to stable. As reported in the Tennessean, the agency cited "education-related and health-related expenditure pressures and the negative economic impact of continuing manufacturing sector declines," as part of its assessments.
Continuing manufacturing sector declines has a new meaning to me, since my new career is in manufacturing. Not on my watch, I say! We'll show them who is manufacturing. Us!
This bond rating is a great testament to Governor Phil Bredesen's skill. I actually think he would make a good president. I haven't heard anyone make this suggestion. Maybe in 2012? Think about it, Phil.
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