Texas Is Right To Work State Led By Republicans

The president of the Federal Reserve Bank of Dallas, Richard Fisher, has a remarkable fact.  Some 37% of all net new American jobs since the recovery began were created in Texas.  Using Bureau of Labor Statistics (BLS) data, Dallas Fed economists looked at state-by-state employment changes since June 2009, when the recession ended. Texas added 265,300 new jobs, out of the 722,200 nationwide.

Using straight nonfarm payroll employment, Texas accounts for 45% of net U.S. job creation.  During the same nine states created fewer than 10,000 jobs, while Maine, Hawaii, Delaware and Wyoming created fewer than 1,000. Eighteen states have lost jobs since the recovery began.

Texas, North Dakota, Alaska, and Washington D.C. are home to more jobs than when the recession began in December 2007.  The federal government explosion of the Barack Obama era, has lofted D.C. payrolls 18,000 jobs above the pre-crisis status quo. Texas is up 30,800.

Mr. Fisher argues that Texas is doing so well relative to other states precisely because it has rejected the economic model that now prevails in Washington.  Mr. Fisher notes that all states labor under the same Fed monetary policy and interest rates and federal regulation, but all states have not performed equally well. Texas stands out for its free market and business-friendly climate.

Capital human and investment is highly mobile.  Both it migrate all the time to the places where the opportunities are larger and the burdens are lower.

Texas is led by Republican Governor Rick Perry and a Republican controlled legislature.  It has no state income tax. Its regulatory conditions are contained and flexible. It is fiscally responsible and government is small. Its right-to-work law doesn't impose unions on businesses or employees.

The Texas economy has grown on average by 3.3% a year over the last two decades, compared with 2.6% for the U.S. overall.  Obama and his socialist economics is to make America less like Texas and more like California, with more government, more unions, more central planning, higher taxes. That Texas added 37% of new U.S. jobs suggests what an historic mistake this has been.

Which makes more sense to you Texas economics or Obama economics?

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