Top local story of 2008: The economy

By KATIE ARCIERI, Staff Writer

Published 12/28/08

Anne Arundel County is less than 30 miles from the nation's capital. But its proximity to the center of U.S. government has not shielded the area from a recession of catastrophic proportions.

Colleen Dugan — The Capital/file Patti Culver rehangs a Realtor's sign in front of the Arnold home she was about to lose to foreclosure this fall.

The Capital's top story of 2008 is the economy, a subject that has generated hundreds of local headlines this year about the deteriorating housing market, mounting foreclosures and companies that closed after decades of business.

Anne Arundel has fared better than other parts of the nation thanks to higher median incomes, federal spending and stable employers such as the Naval Academy, Fort George G. Meade and the...

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Dave - 2008-12-31 09:42:11

Im jealous as I am still stuck in this hole of a state. Watching a 4 billion dollar surplus turn into a 2 billion dollar deficit in two short years since ol' boy took office is sickening. Especially, since we don't have anything to really show for it. I am just waiting for him to point the finger at Bush and Ehrlich as do most failing dems. A $6 Billion dollar swing in two years unfortunately does fall on the shoulders of the Gov. and he should have stopped spending. But wait, that's why we increased taxes, to include the sales tax and brought slots to Maryland...crisis averted.LOL. Its a shame, when a state the size of Maryland is ranked in the top 5 states for budget deficits in the Country.

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Johnathan Locke - Edgewater, MD - Karma: Good

Bad Economy - 2008-12-30 19:38:16

Florida, a state that has no income tax, has seen its share of the bad economy. The housing market tanked royally there and there are businesses shutting their doors because of the downturn. Development projects are now on hold. Just about every state is in the red and planning on cutting funds to make ends meet.

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J. Jovkovich - Annapolis, MD - Karma: Neutral

economy - 2008-12-28 15:58:12

I'm no great O'Malley fan but this economic slide started way before he took office. Not only does it effect this state, but the other 49 as well to varying degrees. Have you seen the Japanese and EU markets? It ain't just the US...

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Jeffrey O. - Pasadena, MD - Karma: Neutral

Maryland Gov. is BROKEN - 2008-12-28 13:17:24

The deficit that MD's worse governor EVER states we should expect has no reason to exist. They collect MILLIONS in State AND Local taxes and spend the money on vacations and raises instead of infrastructure. Look at other states that DON'T have state taxes and they are going strong, MD Government is completely corrupt and BROKEN! I am so glad I am leaving and NEVER coming back!

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Dave Moehle - Timonium, MD - Karma: Bad