Politics

Rick Perry’s Job Creation Miracle

-Submitted by David Drumm (Nal), Guest Blogger

According to a Wall Street Journal article, Richard Fisher, the president of the Federal Reserve Bank of Dallas, using Bureau of Labor Statistics (BLS) data, found that since June 2009 37% of all net new jobs in America were created in Texas. Even though Texas is an energy state benefitting from high oil and natural gas prices, Fisher touts Texas’ business friendly environment, its right-to-work laws, and its “tort reform”– a $250,000 cap on punitive damages.

The WSJ article even calls Texas “fiscally responsible.” That’s the same Texas with a $27 billion budget shortfall. The WSJ article also uncritically cites Texas’ statutory  limits on mortgage borrowing, a regulation of the financial industry they would decry if Obama proposed it.

While the 37% figure is accurate, the details are what’s interesting. Texas has the highest percentage of minimum wage worker in the country. As the chart below shows, the level of minimum wage jobs has increased during Perry’s reign.

The median hourly earnings for all hourly-paid wage and salary workers in Texas stood at $11.20 per hour in 2010; nationally, the median was $12.50.

Texas also ranks number one in the percentage of residents without health insurance. Texas’ percentage is almost 28%. Massachusetts, with Romneycare, has the lowest at 4.7%.

According to The Economist, the state-level Gross Domestic Product of Texas grew by 2.6% last year, equal to the national average. New York grew by 5.1% and California by 1.8%.

Here is a listing of the Perry economic portfolio touted as a model for the whole country:

  • Highest percentage of minimum wage jobs.
  • Highest percentage of residents with no health insurance.
  • A budget deficit of $27 billion.
  • Lower than average wages.
  • Average growth in GDP.

So, if you want a low paying job with no health insurance, Texas is your choice.

H/T: The American Independent, AlterNet, Swamlalnd.

366 thoughts on “Rick Perry’s Job Creation Miracle”

  1. Nal,

    You’re over 320 and I’m jealous. What does a gal/guy have to do to get trolls started on an argument on his/her post?

  2. “You are the only one doing the disruptive trolling here Gene H with your personal attacks.”

    Kderosa,

    Nicely played. Taken right from the Lee Atwater, Grover Norquist, Karl Rove and Joseph Goebbels. This particular game of yours (and theirs) goes like this. When accused of something your are really doing, turn it around and pretend it is your accuser doing it. Must make you a hit with the guys at the club after a round of golf and you’re all drinking in faux manly fashion. The problem here is it it way too obvious to most of us and it is why we look down on you. It’s a cheap shortcut, because frankly you can’t cut it in actual debate here. All it shows itself to be here is a lack of integrity and mediocre
    rhetorical skills.

    “If you have a problem of my noting your personal attacks, as your increasing anger suggests, then you are free to bring your complaint to JT as you are no doubt well aware.”

    There you go again kderosa. The funniest part of this is that it is at base the ten year old child’s game of imitation. It just shows you can learn some big words, but that doesn’t mean you can wield them in debate.

  9. Raff wins … (drum roll) … the honor of selecting this weekend’s song (or group) in glorious STEREO! Congratulations to Raff and thanks to everyone for playing.

  10. Gene,

    We’re kinda spinning Nal’s words … last post on this thread wins the prize … let’s give raf the consolation prize … dinner with Perry

  12. Blouise,

    rofl . . . um, yeah, sure. But I’m thinking he’d probably prefer the chocolate.

  15. Gene,

    Let’s make rafflaw eat dinner with Rick Perry … he beat us both and should be suitably rewarded

  20. I hope the prize is either world peace or chocolate, Blouise. In no particular order. 300!

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