when thinking about the national jobs picture, it is useful to remember that the Texas model of low tax (low government services) low regulation works.
Here is a nice graphic demonstration of the fact that Texas has produced more private sector jobs in the last ten years than all other states COMBINED.
In addition and more particularly, since the end of the recession in 2009, Texas has added 37% of all of the jobs that have been added nationwide.
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.
So whenever you hear the enemies of success fussing about “texas on the brink“, remember that there are always tradeoffs in the world.
Private sector growth raises the boats of everyone. It increases the tax base for government and raises the standard of living for citizens while making sure that as many as want it have the dignity that comes from compensated work. Growth can be squeezed and sacrificed by the determination that Government has the answers for private success. This utopian siren song has real world consequences that can readily be seen in California and New York and Illinois and….
The question is whether or not we squeeze the life out of the golden egg laying goose of freedom and market capitalism or whether we create conditions such that the goose can thrive and thus lay more and bigger eggs.