business backgrounder | economy
For Porter, whose company makes venture capital investments in early-stage technology companies, there are a lot
of reasons to be bullish about the long-term. Investment is occurring within the technology sector, he said, adding
that when the overall economy is bad it is often a good time to invest in tech companies.
governor declares ‘everything on the table’
The state’s immediate budget crisis dominated the keynote luncheon address from Gov. Chris Gregoire.
Gregoire, who ended up announcing her plan for a special session of the Legislature a few hours after she spoke to
AWB members, called on business to help the state address a budget shortfall that was estimated in the $2 billion range.
“Now more than ever, we can only get through the challenge ahead if we work together,” Gregoire said. Gregoire
hailed the state’s successful tax amnesty program, a program that AWB pushed for and which ultimately raised millions
more than officials had estimated. She called on the business community to follow up that effort by supporting her push
for business tax simplification, something that some of the state’s largest cities oppose.
deep frustration will lead to major change
If the governor’s talk about the state budget shortfall wasn’t sobering enough, Scott Rasmussen, the Policy Summit’s
keynote speaker, left the audience with a stark assessment of the national mood.
Americans are deeply frustrated with government, largely because of decades of growing government spending, and
are driving the country slowly but surely toward fundamental change, he said.
Rasmussen, founder and president of the polling company Rasmussen Reports, admitted that his message was unsettling,
but he said the kind of change that will develop from Americans’ dissatisfaction with their economic and political system
is a healthy part of democracy.
Neither political party has figured out how to address the upheaval, which Rasmussen said has been growing for
decades but only came to surface after the hugely unpopular government bailouts during the depth of the Great Recession.
Alaska Airlines:
www.alaskaair.com
JPMorgan Chase:
www.jpmorganchase.com
Madrona Venture Group:
www.madrona.com
Pacific Northwest National Laboratory:
www.pnl.gov
Puget Sound Energy:
www.pse.com
Policy Summit:
www.policysummit.com
AWB Member Robert Bleu of Shining Ocean talks with morning keynote speaker Jeffrey
Rosensweig of Emory University.
Premera Blue Cross:
www.premera.com
As grim as his address was, Rasmussen said he is still optimistic about the nation’s
future. His optimism comes in part from his understanding of history. All of the
country’s previous fundamental changes, including the American Revolution, the
New Deal, and the Civil Rights Movement, all came after decades of simmering
frustration, he said.
Despite their current frustration, most Americans maintain a healthy attitude,
Rasmussen said. And they know what they want. “People don’t want special favors,”
he said. “They want to know what the rules are.”
Rasmussen Reports:
www.rasmussenreports.com
Sterling Financial Corporation:
www.sterlingfinancialcorporation-spokane.com
Washington Research Council:
www.researchcouncil.org
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