Sunday News: Counting the costs of institutional bigotry

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A YEAR OF SHAME AND EMBARRASSMENT THANKS TO HB2: As North Carolina marks the first anniversary of House Bill 2 next week, an ongoing political stalemate is making a prolonged economic backlash – and future anniversaries – likely. The law, widely criticized as anti-LGBT, has cost North Carolinians jobs, money, performances and events, including this month’s NCAA basketball tournament. “The longer it stays on our books, the more difficulty we will have repairing the damage,” Democratic Gov. Roy Cooper said last week. “It’s hard to quantify the damage.” Through research and interviews with economists, Politifact estimates that HB2 has cost North Carolina between $450 million and $630 million. But in perspective, that accounts for 0.1 percent of the state’s annual gross domestic product, notes Michael Walden, an N.C. State economist. “So we know that it’s hundreds of millions of dollars and thousands of jobs, but it could be worse than that because what we’re not getting is what we don’t know,” Cooper said.
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