Obama and his loony tune financial advisers seem to think that doing all things Keynesian will get the economy back on track.
It seems that Dallas Fed chief Richard Fisher has a different take on things and uses Texas as a shining example:
On Wednesday, Richard Fisher, President and CEO of the Federal Reserve Bank of Dallas, gave a speech in which he separated “fact from fiction” about the record of job creation in Texas.
We can help but wonder whose fiction he was talking about?
Texas job gains are a result of pro-growth policies on taxes, spending and regulations: “…people and businesses have been picking up stakes and moving to Texas in significant numbers over a prolonged period… And yet Texas, like all states, is subject to the same monetary policy as all the rest… From this, I draw the conclusion that private sector capital and jobs will go to where taxes and spending and regulatory policy are most conducive to growth.”
Want further proof this guy is right? Look at the financial mess the U.S. is in and look at what’s going on in California, a state losing businesses daily to Texas and other states with better business climates.
Don’t believe us? Let’s send Rick Perry to California and send Jerry Brown to Texas and see what happens. We’d wager millions of unemployed workers in California would soon be working again and Texas would be bankrupt.
– Written by CO2Insanity
Source: The Cypress Times
