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A Look At San Diego's Fiscal Health After The Great Recession

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A Look At San Diego’s Fiscal Health After The Great Recession
A Look At San Diego's Fiscal Health After The Great Recession
GUESTS: Mary Murphy, officer, The Pew Charitable TrustsKelly Cunningham, economist and senior fellow, National University System Institute for Policy Research

Report By Pew Charitable Trusts
A new report by The Pew Charitable Trusts looks at how 30 American cities navigated fiscal challenges in the years following the downturn.
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By some accounts, San Diego's economic recovery from the Great Recession is strong. The annual unemployment rate in San Diego County hovers just under 6 percent. And National University System Institute for Policy Research predicts that the local gross domestic product will exceed $200 billion in 2014 — for the first time.

National University System Institute for Policy Research economist Kelly Cunningham spoke with KPBS Midday Edition Wednesday. "As far as growth we're the 17th largest economy in the nation as a metropolitan area. But our growth was right in the middle, about halfway, about 171st. And what that means is we're not growing as fast as some places are growing. It's not too fast, not too slow in some ways so that's probably not a bad thing," she said.

Cunningham calls the current rate of growth the Goldilocks Recovery, not too fast and not too slow. In fact, she said the rate of growth in San Diego puts the region in the middle of the national pack.

That mirrors a new report by The Pew Charitable Trusts which looks at how 30 American cities — including San Diego — navigated fiscal challenges in the years following the downturn.

Key Findings From The Pew Report:

• Revenue declines: 18 of 30 cities (including San Diego) saw governmental revenue fall between 2011 and 2012.

• Property taxes and federal aid: 4 percent average decline in property tax and government aid across the 30 cities between 2011 and 2012.

• Revenue rebounds: 10 of 30 cities recovered past their pre-recession revenue peak by 2012. San Diego was only at 93 percent of pre-recession revenue peak.

• Spending and reserves: 17 of 30 cities increased overall operating spending and 18 of 30 cities increased reserves in 2012.

Explore all national, state and local returns now.