Rep. Watson: Moving Tennessee Forward

Wednesday, October 30, 2013 - by Rep. Eric Watson
Rep. Eric Watson
Rep. Eric Watson

What a great time to be a Tennessean.  This month, I joined my Republican colleagues from across the state to announce that Fitch Ratings, one of the country's top bond agencies, has officially named Tennessee the lowest debt state in the nation.  One of the things that we have worked tirelessly for is to lead by example.  Just as with your own personal finances, you try and live within your means, Tennessee has strived to do the same.  To be named the lowest debt state in the nation was a prime example of why many are choosing to move to this great state.

The news is based on an analysis of total debt ratios in all 50 states. The calculation is measured by combining each state’s total debt and unfunded liabilities and measuring them against the state’s average individual income level. 

The special report from Fitch revealed that the median level for states' combined debt measures 7.0 percent of 2012 personal income. Tennessee's was lowest at 1.8 percent. The nation's highest percentage was Illinois at 24.8 percent.

Fitch plans to use the debt ratios as a factor in evaluating states’ credit ratings. Favorable ratings from Fitch and the other rating agencies means lower interest rates when the state borrows money, resulting in big savings for taxpayers across the board. 

"There’s a simple reason why our state’s debt rate is so low – we borrow a small amount of money relative to the size of our government and we repay it quickly,” Tennessee Comptroller of the Treasury Justin P. Wilson said. “That’s a credit to our state legislators, who have managed our finances very wisely. They have helped keep the burden that future generations of Tennesseans will have to repay low.”

The award from Fitch complements other recent accolades given to the state which honor  Tennessee's top-rated fiscal environment, including placing as the 3rd best-managed state in the country by Barron’s Magazine and being named the #1 state in the nation for retirement by Bankrate.com. 

These important rankings come on the heels of House Republicans wrapping up one of the most successful legislative sessions in Tennessee history, where efforts were focused on cutting taxes, decreasing the size of government, and passing commonsense reforms that make it as easy as possible to start and operate a business in Tennessee.

With the second half of the 108th General Assembly set to begin in only a couple short months, this most recent round of business-friendly awards prove that in Tennessee, things are moving in the right direction. Through the hard work and dedication of Governor Haslam and legislative leadership, state government has been successful in coming together to attract job-creators, inspire entrepreneurs, and put Tennesseans back to work.  Do you think the leaders in Washington, DC could learn from us?  Let me hear from you, let them hear from you, and make your voice heard.


Saying Goodbye Is Never Easy

One of the hardest things for me to do is to say "goodbye".  I had my retirement lunch Friday for being with the Telecommunications Department for Hamilton County government after a little over 10 years. My last day is this Tuesday, the 24th.  To some, it doesn't make any difference, but to me, from working on televisions in the 70s, on Oscilloscopes for Tektronics, ... (click for more)

Marc Gravitt Is The Best Choice For Register Of Deeds

I tell people that I’ve known Marc Gravitt, “since he was just pup”.  During my many years as CFO and executive vice president of what used to be Union Planters National Bank (now Regions Bank), I worked with Marc on many projects.  Most recently, serving for many years as the former CEO and president of the Associated General Contractors of East Tennessee here in Chattanooga, ... (click for more)

TBI Puts Man Who Killed 4 At Waffle House On Its "10 Most Wanted" List

A man who killed four people and injured two others at a Waffle House near Nashville on Sunday morning is still on the loose and has been added to the Tennessee Bureau of Investigation's ‘Top 10 Most Wanted’ list. He was identified as Travis Reinking, 29, of Morton, Ill., was arrested last year when he was in a restricted area at the White House in Washington, D.C. Reinking ... (click for more)

Dayton Teen Arrested After Running For Deputies On Highway 60; Passenger Caught With Drugs

Hamilton County Sheriff deputies caught up with a Dayton teen who drove off at a high rate of speed on Highway 60 on Sunday afternoon. A passenger in the vehicle was caught with drugs. At approximately  5 p.m. , deputies observed a car traveling south in the 7800 block of Highway 60 at a high rate of speed. The driver was improperly passing other vehicles by crossing ... (click for more)

Orange Overwhelms White, 34-7, In Tennessee Spring Game

KNOXVILLE – After almost a month of spring camp and four quarters of ones versus twos, one glaring question remains: how much will the fall arrival of graduate transfer Keller Chryst change the dynamic of the battle for starting quarterback?   While new Tennessee head coach Jeremy Pruitt was calling for an electric atmosphere at Saturday’s Orange and White game, the ... (click for more)

Stoker, Tate Prevail In 50th Chickamauga Chase 15K

They couldn’t have asked for a more perfect day weather-wise for the oldest and longest running race on the Chattanooga Track Club’s schedule. Temperatures were cool, but not cold, and there wasn’t a cloud in the sky.   Add to that the fact there was very little wind and you have perfect conditions for the 50 th Annual Chickamauga Chase. A lot has changed with this ... (click for more)