Larry Johnson makes the point that the entire world’s ecdonomy is slowing. The point has been made before that if we get our house in order pronto we can offer a true helping hand to the rest of the world. And, yes, make some solid money. If we don’t we all flounder and all fail. We need to get real now. Will we? I hope so. Meanwhile The Usual Suspects are attacking Rick Perry and the “mirage” of Texas growth. A commenter to Larry’s piece linked above have the answer to that:
“Thanks Larry! It is important to refute the hatchet jobs of the Liberal attack dogs in the MSM.
Axelrod also threw out some shots saying that Texas jobs are growing because of federal dollars from the military bases in the state, the oil industry, and minimum wages.
So let us compare 2 states: Texas & California
Texas has 15 military bases California 32
Texas # 2 in oil production California #3
Texas no state income tax California 10% income tax
Texas State sales tax 6.25% to 8.25% California 7.25% to 9.5%
They have similar levels minority populations especially in terms of Mexican immigrants.
They have similar resources in agriculture and have tourist industries
LA county is the 10th largest economy in the WORLD on it own
Texas has 2 large metro areas in Dallas and Houston
The difference is that Texas under the leadership of Perry kept the state fiscal house in order and taxes are low for individuals and business. They have a blalanced budget and a $6bn rainy day fund.
California’s budget is a NIGHTMARE they are bankrupt by all accounts and austerity measures are being comtimplated all over the state.
What is the difference???
Right to work vs Union domination
Progressive Nanny state vs Personal responsibility and hard work?
(not a fan of NCLB and standardized testing yet the results are interesting)
Texas has above average scores for whites, Hispanics, Asians, Blacks, and other minorities across the board.
California has a much different demographic of achievement with whites perfroming well but minorities under performing in most scored areas of studies
The cost of living in Texas is lower than California in great part due to the intelligent management of the state resources.
California has no excuse for its financial debacle. But it is a great example to the rest of the nation about how not to manage the money of the people.”
The commenter missed one small but telling point: California sales taxes are actually as high as 10.25% in the People’s Republic of Santa Monica. Don’t know about other “progressive” disaster zones.