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Could it be the low taxes and low regulation? Nah.
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The Texas model added 37% of all net U.S. jobs since the recovery began.

Richard Fisher, the president of the Federal Reserve Bank of Dallas, dropped by our offices this week and relayed a remarkable fact: Some 37% of all net new American jobs since the recovery began were created in Texas. Mr. Fisher's study is a lesson in what works in economic policy—and it is worth pondering in the current 1.8% growth moment.

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 net jobs, out of the 722,200 nationwide, and by far outpaced every other state. New York was second with 98,200, Pennsylvania added 93,000, and it falls off from there. 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.

The data are even more notable because they're calculated on a "sum of states" basis, which the BLS does not use because they can have sampling errors. Using straight nonfarm payroll employment, Texas accounts for 45% of net U.S. job creation. Modesty is not typically considered a Texas virtue, but the results speak for themselves.

Texas is also among the few states that are home to more jobs than when the recession began in December 2007. The others are North Dakota, Alaska and the District of Columbia. If that last one sounds like an outlier at first, remember the government boom of the Obama era, which has helped loft D.C. payrolls 18,000 jobs above the pre-crisis status quo. Even so, Texas is up 30,800.

What explains this Lone Star success? Texas is a big state, but its population of 24.7 million isn't that much bigger than the Empire State, about 19.5 million. California is a large state too—36.9 million—and yet it's down 11,400 jobs. 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, and we'll second that notion.

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—both human and investment—is highly mobile, and it migrates all the time to the places where the opportunities are larger and the burdens are lower. Texas 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. It is open to global trade and competition: Houston, San Antonio and El Paso are entrepôts for commerce, especially in the wake of the North American Free Trade Agreement.

Based on his conversations with CEOs and other business leaders, Mr. Fisher says one of Texas's huge competitive advantages is its ongoing reform of the tort system, which has driven litigation costs to record lows. He also cited a rule in place since 1998 in the backwash of the S&L debacle that limits mortgage borrowing to 80% of the appraised value of a home. Like a minimum down payment, this reduces overleveraging and means Texas wasn't hurt as badly by the housing crash as other states.

Texan construction employment has contracted by 2.3% since the end of the recession, along with manufacturing (a 1.8% decline) and information (-8.4%). But growth in other areas has surpassed these losses. Professional and business services accounted for 22.9% of the total jobs added, health care for 30.5% and trade and energy for 10.6%.

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. Yet the core impulse of Obamanomics is to make America less like Texas and more like California, with more government, more unions, more central planning, higher taxes. That the former added 37% of new U.S. jobs suggests what an historic mistake this has been.

http://online.wsj.com/article/SB100...80710070472.html?mod=WSJ_Opinion_AboveLEFTTop
 

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:laughing: It's an uphill battle with the left as they try their hardest to push an income tax on us, and all their failed socialist programs. The newspapers have almost all gone to to darkside, and we are getting sponges from other states moving in quick. Gotta stay vigilant lest we become another illinois or california..
 

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This is a lie there are no jobs in Texas.

Please stay away.

Unless you are adept at hunting liberals and/or lizards:smack
 

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This is a lie there are no jobs in Texas.

Please stay away.

Unless you are adept at hunting liberals and/or lizards:smack
:agree: This article was put out by the Perry campaign as propaganda for his possible presidential bid. It sux here, no work, no freebies, little to no mass transit.. stay out it's hell!
 

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Lots of federal dollars are fueling this job growth. Look at who is adding and what bills were pushed and passed to get it.

It's all good, but it has little to do with corporations.
 

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Discussion Starter · #6 ·
All you had to do was read the article.
 

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Lots of federal dollars are fueling this job growth. Look at who is adding and what bills were pushed and passed to get it.

It's all good, but it has little to do with corporations.
Texas is a donor state, we pay in more than we get back. But, Texas tends to spend money more wisely, while other states use their federal money to send illegals to college, we produce jobs.. :laughing:
 

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This article is complete bullshit! It's extremely hot and windy here. When we get rain (we very seldom do) it's accompanied by severe electrical storms and/or tornadoes...

We are experiencing a drought and wildfires rage across the plains. Drinkable water is scarce and illegal immigrants are everywhere...

I'd move but I lack the money to do so, otherwise, I wouldn't live here myself, and you shouldn't either!

 

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Could it be the low taxes and low regulation? Nah.
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The Texas model added 37% of all net U.S. jobs since the recovery began.

Richard Fisher, the president of the Federal Reserve Bank of Dallas, dropped by our offices this week and relayed a remarkable fact: Some 37% of all net new American jobs since the recovery began were created in Texas. Mr. Fisher's study is a lesson in what works in economic policy—and it is worth pondering in the current 1.8% growth moment.

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 net jobs, out of the 722,200 nationwide, and by far outpaced every other state. New York was second with 98,200, Pennsylvania added 93,000, and it falls off from there. 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.

The data are even more notable because they're calculated on a "sum of states" basis, which the BLS does not use because they can have sampling errors. Using straight nonfarm payroll employment, Texas accounts for 45% of net U.S. job creation. Modesty is not typically considered a Texas virtue, but the results speak for themselves.

Texas is also among the few states that are home to more jobs than when the recession began in December 2007. The others are North Dakota, Alaska and the District of Columbia. If that last one sounds like an outlier at first, remember the government boom of the Obama era, which has helped loft D.C. payrolls 18,000 jobs above the pre-crisis status quo. Even so, Texas is up 30,800.

What explains this Lone Star success? Texas is a big state, but its population of 24.7 million isn't that much bigger than the Empire State, about 19.5 million. California is a large state too—36.9 million—and yet it's down 11,400 jobs. 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, and we'll second that notion.

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—both human and investment—is highly mobile, and it migrates all the time to the places where the opportunities are larger and the burdens are lower. Texas 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. It is open to global trade and competition: Houston, San Antonio and El Paso are entrepôts for commerce, especially in the wake of the North American Free Trade Agreement.

Based on his conversations with CEOs and other business leaders, Mr. Fisher says one of Texas's huge competitive advantages is its ongoing reform of the tort system, which has driven litigation costs to record lows. He also cited a rule in place since 1998 in the backwash of the S&L debacle that limits mortgage borrowing to 80% of the appraised value of a home. Like a minimum down payment, this reduces overleveraging and means Texas wasn't hurt as badly by the housing crash as other states.

Texan construction employment has contracted by 2.3% since the end of the recession, along with manufacturing (a 1.8% decline) and information (-8.4%). But growth in other areas has surpassed these losses. Professional and business services accounted for 22.9% of the total jobs added, health care for 30.5% and trade and energy for 10.6%.

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. Yet the core impulse of Obamanomics is to make America less like Texas and more like California, with more government, more unions, more central planning, higher taxes. That the former added 37% of new U.S. jobs suggests what an historic mistake this has been.

http://online.wsj.com/article/SB100...80710070472.html?mod=WSJ_Opinion_AboveLEFTTop
It is interesting that this article touts the merits of Texas' low taxes and low regulation but then goes on to credit a regulation as a large part of why they are doing well.(bold) The fact that New York comes in second adds to the interest of the thesis of this story as New York is one of the higher taxed and most regulated states, yet comes in second. Looking at the worst hit states job wise and the worst hit states housing bust wise I think there is far more corelation there than in tax structures. Consider that two of the worst hit states and still highest unemployement states Florida and Nevada, also have no income tax, yet they are not even doing as well as New York, again one of the higher income tax states.
 

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This is a lie there are no jobs in Texas.

Please stay away.

Unless you are adept at hunting liberals and/or lizards:smack
I haven't had any shortage of offers in Austin...... :huh:


You guys should move to Austin, the land of milk and honey :laughing:
 

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The hard thing here is finding a gap in business to take a vacation. We are backlogged with business opportunities right now. Many opportunities are foreign energy company start ups in Houston.

Keep your eye on Natural Gas. It is about to take a big leap forward in Texas.

:cheers:
 

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After going to the Bureu of labor statistics myself, I see some very interesting trends in Texas compared to other states. For instance....Texas lost only 77,600 jobs in the construction field, compared to 220,000 in Florida and 57,400 in Nevada. Now the Nevada numbers may look not that bad considering that they lost less jobs than Texas, but take into account that the total civilian workforce in Texas is 12,193,100 and in Nevada it is only 1,336,700, or less than a tenth the size of Texas, and you see the real impact of lost construction jobs.

Another very interesting bit of info....Texas created 97,400 new government jobs since 2008 or more than one third of the total number of new jobs, while New York cut 17,600 government jobs over the same period. I guess that is not something to brag about though, for all you small government types. :thumbsup:
 

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Wow this BLS sight is wealth of information....another very interesting bit of information....In California, they have lost a total of 22,211 jobs since February 2008. But they have lost a total of 120,400 government jobs, so they have actualy created 98,189 none government jobs. Imagine that the liberal bastion of California is shrinking the size of government while the conservative bastion of Texas created more than a third of its jobs by growning the government.


here is the BLS sight so you all can see for yourselves....



http://www.bls.gov/eag/eag.ca.htm


So is this thesis of low taxes and low regulation the answer to all our problems as this article implies, true??? Judge for yourself. But I guess if we are to follow Texas' example it has to be done with a lot of government growth which is the opposit of what the pubs are calling for. Whats up with that??? :huh::huh::huh:
 

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For once my friend you are absolutly correct...Could it be the low taxes and low regulation??? You are correct sir..."Nah"!!

It is the regulation that kept them from getting killed in the housing mess, and the growth of government in the state. Thanks for pointing this out....it has been very informative.

Oh and you should also take some great pride in your state for shrinking government so well. :thumbsup:
 

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Texas is a donor state, we pay in more than we get back. But, Texas tends to spend money more wisely, while other states use their federal money to send illegals to college, we produce jobs.. :laughing:
While Texas is indeed a donor state at 94 cents back on every dollar sent to washington, it is no where near as much a donor as New York, at 79 cents or New Jersey at 61 cents back for every dollar sent.
 

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Amazing that you guys sounded so proud and even bragged about how great Texas is but when the truth comes out about your big government state and why you actualy have so much job growth, all you see from you guys is silence.....Guess you are a little embarassed. :nuts:
 

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Just making assumptions here. one of the reasons I see TX doing so well is that is didn't falter as much during the recession. Mostly because it is held up by real MFG jobs, transportation, Oil, and a housing market that didn't tank like other states because it never super inflated to begin with.

That and they have rather lax state EPA controls compared to other states.

forgot to add a robust dept of defense base that has faired well based on salaries alone. i would suspect DFW to take a hit in the next year or so if DOD cuts spending in some areas
 

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While Texas is indeed a donor state at 94 cents back on every dollar sent to washington, it is no where near as much a donor as New York, at 79 cents or New Jersey at 61 cents back for every dollar sent.
Wow, this has really gotten under your skin hasn't it? You're going to twist it and turn it until it appears that the obvious isn't true. Low taxes and limited regulation really do improve the economic and job climate. The key is diversification. We have large numbers of jobs in oil/gas, manufacturing, construction, healthcare, education, etc. Like all states, we were hit hard by the recession, but our economic diversity and friendly business climate have helped us do better than most states so far. If Obama stays in office another 4 years, all bets are off, though. If his model takes control, everyone will either be a union member or a government employee - or both. :crazy:
 

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Wow, this has really gotten under your skin hasn't it? You're going to twist it and turn it until it appears that the obvious isn't true. Low taxes and limited regulation really do improve the economic and job climate. The key is diversification. We have large numbers of jobs in oil/gas, manufacturing, construction, healthcare, education, etc. Like all states, we were hit hard by the recession, but our economic diversity and friendly business climate have helped us do better than most states so far. If Obama stays in office another 4 years, all bets are off, though. If his model takes control, everyone will either be a union member or a government employee - or both. :crazy:
Just pointing out the facts....Lets look at the numbers...

Minning and logging...gain of 3,500 jobs
Education and health...Gain of 138,900 jobs
Construction ..........as I noted before loss of 77,600 jobs
manufacturing.......Loss of 114,600 jobs
Trade, transport and Utilities... loss of 80,800 jobs
Information.......loss of 31,100 jobs
Financial activities....loss of 26,900 jobs
Profesional and business services....loss of 36,800 jobs
liesure and hospitality....Gain of 14,600 jobs
Other services......gain of 6,100 jobs
Government........Gain of 97,400 jobs


So out of the 5 sectors of the Texas economy that gained jobs only 1 gained more jobs than the increase in the size of government. So you guys claim that it is low taxes and small government that makes Texas grow better than the other states yet the growth of government accounts for more than a third of all job gains. Again remind me do you want more government or less.:huh::huh: As for your diversification, again you only had two large growing sectors and one of them was government. Tex, I don't have any problem with Texas, I just have a problem pointing to a succesfull state and ignoring that what realy helped it through the hard times was the regulation that helped it not suffer too much in the housing bubble, and the growth of government. To claim that it is the low taxes and lack of regulation simply flies in the face of the truth. Way too many of our "conservative" leaders have done just what Texas did to make thier employement numbers look good...namely hire more people onto the government payroll. You and I both know that is an unsustainable model, and hardly one we should be bragging about.

PS: Tex please answer this one question....If you cut taxes and increase the size of government, how can you not have deficits???
 

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I just went through all 50 states, checking on the growth of government. Texas was by far the largest increase in the size of government by as I said before 97,400. The next biggest was virginia at 13,000 more government jobs in 2011 than in 2008. The largest reduction by far was California at 120,400, followed by Michigan at 30,000 less government jobs in 2011 than in 2008.

The only thing that you can take away from this is that the best way to lower unemployement is to have the government hire people. But as we all know that is unsustainable. Texas is the opposite of the model that we should follow. :crazy::crazy:


Unless of course you believe that increasing the size of government in bad times is a buffer to help the economy. That would then indicate that government spending at least in the short run is the way out of bad economic times. Of course that is just crazy talk. :crazy:
 
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