Thursday, August 18, 2011

Obama, Perry not "responsible" for jobs rate; vive la difference between the two and the reasons behind them

Forty percent of Obama's jobs record is Perry's jobs record. Even if the Texas governor isn't "responsible" for it, that's still a formidable record. - Derek Thompson, “The Atlantic”

This impressive statistic is the result of geology, geography, history, and politics.

- Geology blessed Texas with oil, natural gas and other energy and agricultural resources that powered Texas through the early part of the recession and bolstered the state's recovery in the subsequent global commodities boom.

- Geography gave Texas open, arable land that encourages wide, cheap housing and a Mexico border offering a steady stream of cheap immigrant labor.

- Recent history, especially the S&L crisis of the 1980s, gave Texas a lesson in conservative banking practices that served it well in the 2000s.

- And as national politics is responsible for high military spending that is a backbone of the San Antonio economy, many companies in Texas also benefit from the state's conservative regulation, which holds down the cost of business.

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