Will Hawaii Learn the Great Recession?

The Great Recession is over. Nationally, the recession ended in June 2009. While unemployment remains stubbornly high, particularly on the mainland, the Council on Revenues projects continued growth and substantially higher revenue for the state in the coming months and years. Currently the Council is predicting 10% revenue growth in fiscal year 2012 which starts in July 2011 and 6% growth in FY 13.

So what are the lessons of the worst recession since the Depression for state government? And what should the Legislature and the Governor do this session to be sure state government applies these lessons?

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