From Sadie (thank you!):
Hi there, This caught my eye due to Mr. Friedman/Moody’s quote and the other obvious elephant in the room – Rick Perry, possible GOP contender.
The article outlines the pro and cons of the economy/housing/education in Texas, such as; no state or corporate income tax, no housing crash, because the banks learned their S & L lesson in the 1980’s. Moreover, Texas has aggressively marketed themselves to states like, Illinois and California.
Quotes from the detractors:
“Either you choose to have low-wage jobs or you choose to have no jobs at all”
“If you’re saying you want to look like Texas, you’re saying you want to be poor and have less health care”
The reader can determine for his/herself whether or not Texas is a success. The take-away quote for me was:
“For one large state to grow (jobs) so much faster than the rest of the nation is very unusual,” says Moody’s economist Ed Friedman.
The state’s payrolls have risen 2.9% since the end of the recession, third behind North Dakota
and Alaska and far outpacing the USA’s 0.4% growth, according to the BLS. Also, Texas’ 8.2% unemployment rate is well below the nation’s 9.2%.
The very same Moody’s that rates global economies and has threatened to downgrade ours finds the growth of jobs unusual. Why? Is Texas doing something the other states are not.