Richard Fisher, president of the Dallas Federal Reserve Board, told me that if you look at the number of jobs created since the recession technically ended in June 2009, Texas has accounted for 48 percent of net new jobs created in the U.S.
Fisher also disparages claims that the jobs are all low-paying jobs at McDonald’s or Walmart, paying the minimum wage, or that they were primarily caused by the oil and natural gas boom. According to Tom Pauken of the Texas Work Force Commission, the annual median wage in Texas in 2010 for all occupations was $31,500 a year, only 7 percent below the national average. That difference is easily explained by the fact that Texas has a younger workforce than most states and a higher percentage of workers in lower-pay agriculture jobs near the border with Mexico. [ CW: Cost of living in Texas is lower than many other states; Texas has no state income tax; Texas is a right to work state.]
As for where the job growth has been, three sectors of the economy have grown faster than the energy sector, which alone added 40,500 net new jobs in 2010. Last year, Texas added 57,900 new jobs in trade, transportation, and utilities; a total of 53,400 jobs in professional and business services; and 44,900 net new jobs in the hospitality industry.
For each of the past seven years, CEOs polled by “Chief Executive” magazine have rated Texas first in the nation for economic development climate and job growth. What is the secret of Texas’s success? Rick Perry isn’t shy about his answer. “It’s all about four points,” he told me. “First, don’t spend all the money. Keep the taxes low and under control. Have regulations that are fair and predictable so business owners know what to expect from one quarter to the next. And reform the legal system so that frivolous lawsuits don’t paralyze employers who are trying to create real wealth.”
If there is on issue which Perry has made a personal crusade, it is lawsuit reform. Working with the legislature, he has helped pass curbs on frivolous lawsuits, implemented a first-in-the-nation system under which loser pays all court costs in many lawsuits, and reformed medical malpractice law.
Dick Weekley, the co-founder of Texans for Lawsuit Reform, says Perry showed genuine political courage in resisting calls for watered-down reforms that wouldn’t have addressed the core problem.
He recalls that in 2002 Perry vetoed a bill strongly supported by doctors that would have required them to prompt payment from health maintenance organizations. In the eyes of the tort reform advocates, the bill was a Trojan Horse compromise negotiated between doctors and trial lawyers. “There was a huge response from physicians [against the veto],” Kim Ross, the former top lobbyist for the Texas Medical Association, said. TMA went so far as to endorse Tony Sanchez, Perry’s millionaire Democratic opponent in the 2002 election.
“Perry sent a signal that he wanted real reform and would stand his ground,” Weekley told me. “Soon the medical lobbyists playing footsie with the trial lawyers were gone and the obstacles to real reform started falling.”………………..
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AND now the TMA is endorsing Gov. Rick Perry. They understand now what he was doing would HELP them.
Rick Perry did very well on Jay Leno tonight. Very funny, big smile, totally relaxed.He got tremendous audience reaction calling for a part-time half-salary Congress that returns to work in the Real World as the citizen-legislator the Founders intended, not the professional 179K variety.
Regarding Rush's allusion to Rick Perry saying China will implode, I began that track with a liberal who interrupted saying, "They own us."
I'd say more like Holmes and Moriarty locked in struggle at the Reichenbach Falls.
China is unstable. Constant demonstrations of outrage at the land seizures and the brutality of the police.
Chinese banks are based on bad loans.
PLA recruitment has fallen leading to the loosening of requirements for height and weight.
Deployed PLA suffer demoralization and erosion of combat skills requiring issuance of violent video games.
The biggest destabilizer is the growing number of men who will not find a woman for marriage.
And mail-order brides play ransom games.
The Strike Hard policy of 1989 has its complement in the Great Firewall of party censorship.
Corruption is rampant and both U.S. and Chinese consumers are growing in discontent.
It is promising that Rick Perry does not cede to China its premise of inevitable triumph in its three-millenial warlordism.
Rick Perry is from a place where eight seconds separates the men from the boys.