Top 5 states with the best economic outlooks

"Generally speaking, states that spend less -- especially on income transfer programs -- and states that tax less -- particularly on productive activities such as working or investing -- experience higher growth rates than states that tax and spend more," the report reads.

Will strong jobs report steer Democrats away from impeachment?

Bulltick Capital Markets head of research Kathryn Rooney Vera says an economic downturn in the market can ensue from excessive deregulation whereas AGF Investments chief U.S. policy strategist Greg Valliere discusses economic consequences that can result from increased taxes.