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.

Keep Jonathan Welch On The School Board

We all know there are problems with the management of our school system.   Fortunately for District 2, Jonathan Welch is not one of them. In the last four years, Jonathan Welch has become acutely aware of what's wrong in the Hamilton County Department of Education.    He not only recognizes the problems, he's worked to identify solutions, and with a reconfigured ... (click for more)

Time For A Change To Kathy Lennon

Although Roy Exum has accurately identified many of the failings of the Hamilton County Education Department and the school board’s culpability in the mess in recent months, he does not support the majority of Hamilton County’s citizens’ opinion that none of the current members of the school board should be re-elected, but insists that one, Jonathan Welch, should be returned to ... (click for more)

SEC Freezes Accounts Of 2 Chattanooga Brokers Accused Of Diverting $5 Million Raised From Investors

The Securities and Exchange Commission on Friday announced it has won a court-ordered asset freeze to halt an ongoing fraud by two former Chattanooga brokers with disciplinary histories who allegedly raised more than $5 million from investors without using the money as promised.  In an emergency action filed in Federal Court in Chattanooga, the SEC alleges that James Hugh ... (click for more)

Downtown Landmark The James Building Sold For The 2nd Time In 2 Years

A longtime downtown Chattanooga landmark, the James Building, has been sold just two years after trading hands. The former owners of Rivermont Golf and Country Club bought the 12-story office building in May 2014 from Luken Holdings for $5.1 million. Rivermont James Building LLC has now sold the skyscraper for $5,868,000. The sale was to Dew James LLC. Knoxville attorney ... (click for more)

Thompson, Mason Win Scenic City Scorcher With Record Times

(Story will be updated) Saturday was another record-setting day for runners in Chattanooga. The occasion was the second running of the Scenic City Scorcher, a flat and fast two-mile race in Heritage Landing. Christian Thompson and Rachel Mason were overall winners and both did so in record-breaking time.  Thompson was all alone in first with a time of nine ... (click for more)

CCS Names Eddie Salter, Ben Wharton As New Basketball, Baseball Coaches

Chattanooga Christian School announced that Coach Eddie Salter is returning to the men’s basketball program as the Varsity Head Coach for 2016-2017. He will be joined by Chattanooga Christian alumnus, Ben Wharton, who has been named the Varsity Head Coach of the men’s baseball program and the Junior Varsity Men’s Basketball Coach.  Former Varsity Head Basketball Coach ... (click for more)