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Thu May 1, 2014, 07:21 PM

Rick Perry's 'Texas Miracle' is a Texas Mess - And He Won't Be Around to Clean it Up

Texas is experiencing exponential growth. This is not news to anyone living in one of the Texas cities at the center of this population boom. With overcrowded freeways and a strained water supply, Rick Perry's 'Texas miracle' of business and population expansion is impossible to miss.

Though Perry may be right in pointing to low taxes in the state as key drivers of this migration of both people and business, it is this same focus on low taxes and low spending that could spell doom for Texas' infrastructure, the Wall Street Journal reports. When that time comes, Perry will be far away from the Governor's mansion, and it will be up to someone else to clean up his mess.

The population growth seen in Texas in recent years is astounding. 1.3 million people moved to Texas between 2010 and 2013, making Texas the fastest growing state in the country. Between July 2011 and July 2012, half of the cities in the United States with the greatest population growth were in Texas. Houston gained almost 35,000 new residents, and Austin has grown to be more populous than San Fransisco.

A large part of the attraction in Texas is that it wasn't really hit by the recession. Not only did the economy barely experience a trough, but the unemployment rate in Texas is lower than the national average. Many businesses are still planning to move into the state, with Toyota and Epicor Software moving this year.

More at http://www.burntorangereport.com/diary/15168/rick-perrys-texas-miracle-is-a-texas-mess-and-he-wont-be-around-to-clean-it-up .

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Reply Rick Perry's 'Texas Miracle' is a Texas Mess - And He Won't Be Around to Clean it Up (Original post)
TexasTowelie May 2014 OP
enid602 May 2014 #1

Response to TexasTowelie (Original post)

Thu May 1, 2014, 07:39 PM

1. Texas miracle

Texas is growing because of high oil and gas prices. Likewise, Canada and Saudi Arabia are doing pretty well these days. The price needed to make US oil and gas extraction profitable is relatively high; if world prices go down, Texas will again be in the dumps. I lived in Houston in the '80's, and have never witnessed such an economic downturn.

I bought a foreclosed house for $25K in '85. It had sold new scarcely a year before for $90K. I looked in Zillow recently, and the house (a patio home in North Houston/Champions Forest in a subdivision of almost identical homes) is valued at $100K. $10K appreciation in 30 years. Some Texas miracle.

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