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Is it enough for Oklahoma City to hold its own?
My last two post were about how good news about the Oklahoma economy is filtering in through the gloom of the national presses focus on what is falling apart. Today more job significant job losses were reported by Catepillar, Sprint, Home Depot and others. Catepillar alone reported 20,000 lay offs. Some estimates of job loss in 2009 run to another 2 million to match the 2 million from last year. Is Oklahoma City really an oasis in an economic desert? The answer is no. We have worked hard since the 1980's to diversify our economy to match job numbers in the basic categories. We have done this in medical, government, military, technology, manufacturing, accounting, and other areas. Energy and agriculture which have in the past been the key to our financial success or failure don't control our destiny anymore. It would help to have oil and natural gas at higher levels, but the recent increase in the state's budget only shows a $110 million shortfall by the end of the year. Shouldn't this be enough?
The answer is yes and no. Yes, because housing which was the main reason for the current meltdown, and Oklahoma City was not apart of the ... more

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