CHART OF THE DAY: *Government* Jobs Led To Perry’s Economic Boom
You've been hearing all about the Texas Miracle and all Rick Perry's job creation. But I guess no one has bothered to notice yet that it's mostly built on government jobs.
n the campaign trail, governor Rick Perry will claim credit for the so-called Texas miracle. His state weathered the housing and jobs crises better than many others, and he'll happily tell voters it was the result of his small government conservative approach to running things.
But his state's relative success has a lot to do with things out of his control -- population growth resulting from an influx of immigrants from Mexico and of workers and retirees from other U.S. states, and high oil company profits, to name just a couple. Oh, and also federal stimulus.
What's that you say?!
Despite being one of the loudest critics of President Obama's stimulus, Perry used billions of dollars of federal money to patch Texas' budget shortfalls, and was thus able to create and maintain lots and lots of public sector jobs. In fact, if you look at net job creation between 2007 and 2010, it's clear the only thing keeping Texas buoyant was government jobs.
MORE AT THE LINK