What Happens When There is No Funding for Corporate Welfare?

Gov. Rendell has noted on many occasions that without large state "economic development" grant programs, Pennsylvania's economy would tank.  He has argued that the Senate budget, which would eliminate many of his opportunities to hand out giant cardboard checks to corporations and take credit for, would accelerate the current recession.

So now that Pennsylvania has gone almost two months without a state budget, and had no money for economic development grants, what does Gov. Rendell say about the effect this loss corporate welfare funding?  From FYI by PLS:

Governor Ed Rendell was joined by Department of Labor and Industry (L&I) Secretary Sandi Vito to announce positive economic development news today during the Governor’s press conference. Governor Rendell explained that an internal L&I memo showed that from July 25th to August 7th there were only five business closings as compared to 13 business expansions or openings, which will result in 1,852 jobs created.

The lesson: not using taxpayer funding for corporate welfare is good for the economy.