Posted on 10/22/2008 6:58:22 PM PDT by 2ndDivisionVet
With more than half of the 50 United States of America bogged down with financial woes, Texas is weathering the monetary collapse much better than most. This is a testament to the Lone Star State’s political and economic leaders’ ability as they fight off the massive recession that has most of America and the rest of the world strapped. Mary Scott Nabers is president and CEO of the Austin based government relations procurement consulting firm Strategic Partnerships, Inc. She is clear on the main reason for the resiliency of the state’s overall cash flow.
“The diversity of the state’s economy is allowing Texas to withstand the current instability seen in the national economy, and that is good news for vendors,” she said.
California legislators are struggling with a budget deficit of more than $22 billion for Fiscal 2009, which started last June. New York State’s spending has outstripped its income, leaving it with a $4.9 billion deficit for the fiscal year, while Florida politicians have a $3.4 billion deficit on their hands. Financially ailing states are turning to such extreme measures as heavy borrowing at higher-than-average interest rates, sweeping spending cuts and dipping into Rainy Day Funds and other reserves. These deficits are increasing while revenues are depleting, but Texas is staying afloat.
The legislature will convene in Austin in January, and the lawmakers will enjoy a rare advantage--a budget surplus estimated at $10.2 billion with another $7 billion in the Rainy Day fund. This will provide a boon in business opportunities for service providers and vendors.
* Texas has low taxes, no income tax, and moderate regulations, making it an attractive location for doing business. CNBC and CEO Magazine both listed Texas as the best place to do business in 2008. Financial Times ranked Texas as having the nation’s best state economy.
* The state’s reserves of oil and natural gas bring in additional capital.
* Sales tax revenues are still strong.
* Texas’ status as a pay-as-you-go state insures a balanced budget and no deficit spending.
* The $200 million Texas Emerging Technology Fund invests in companies and universities that attract high-tech jobs and helps new companies survive until they become profitable and self-sustaining. The Texas Enterprise Fund recruits and nurtures new business, resulting in 51,600 new jobs and $13.6 billion in capital investment.
* Over the past five years Texas has created 1.2 million new jobs. Nearly half the new jobs created in the entire United States this past year have been in Texas.
* The unemployment rate in Texas is far lower than the national average. While national unemployment rates worsen, Texans’ employment rates are improving, with 252,000 new jobs created during the past 12 months.
“Simply put, this means that as 2008 winds to a close, Texas, more than any other state, is a prime focus area for business opportunities for vendors,” said Nabers.
What she is not quoted as saying is that Texas is lead by conservative Republicans.
Then this would be as good time as any to secede. Right?
Being a Lone Star State resident... would really like for a 40’ razor-wire topped wall to be built (soon) between Tejas (oops Texas) and Mexico... from the Gulf of Mexico to New Mexico... but I won’t hold my breath.
I don’t want Liberals to move to our state and screw up our politics like they’ve done in what used to be solid Conservative states like Colorado, Montana, and New Hampshire.
Most folks from up north would hate it here. Really.
Besides, all the red-necks have guns and big pick-up trucks. Canada might be better for liberal carpetbaggers looking for someplace to despoil go. Really.
It's horrible. A coyote just ate my cat, Muffie. And it gets dark at night. No easy access to latte, no arigula, except in Dallas and Austin.... It's a nightmare place.
And if that didn't work..... "Welcome to Texas. Now go home!"
/johnny
It also does not say that we here provide such a large portion of the resources used by the country. Why don’t we charge some “use taxes” when we export our oil and gas that we choose to produce while we pollute our land so the East and West Coasters can enjoy their lives?
Look at the red vs blue states. We are fast becoming a land where the bulk of America is fly-over country.
Or perhaps to resurrect the nullification doctrine.
Texas tried that back in the 70's. The federal courts nixed it.
There used to be bumper stickers here in Texas that read "Drive 70 and let the Yankees freeze in the dark".
VIVA CONSERVATIVE REPUBLICANS!
I'm proud of my state and the Republicans who run it.
In Texas, we don't mess around with the trash.
Texas tried that back in the 70’s. The federal courts nixed it.
Doesn’t that prove my point on being fly-over country?
Don't worry nObama will change that as soon as he is inaugurated...
AGREE.
Tell the Feds we’re not going down with their god-forsaken ship and cut Texas loose. We were our own country for nine years. It’ll feel like coming home.
I am serious. This should be discussed. With the country slipping into a monarchy Texas would shine like a beacon as it’s own country once again. Then we can charge those blue staters for our Houston gasoline as if they were foreign powers (which they essentially are already, i.e., foreign to the U.S. Constitution).
Molon Labe!
http://www.javelinpress.com/molon_labe.html
Proud Texan FReeper.
We don’t want anyone to move here who intends to vote Democrat. Sorry to be so blunt.
;-)
Xena, lose the guy. You needs me, baby. :)
Maybe we oughta become a republic again.
A lot of states are definitely in recession, and nearly all of them are governed by Democrats.
Gig em, Texans!
/johnny
The one that hurt, though, was when I heard it as I walked into Jackson State Penitentiary.
I’m all for secession. It is really weird how many Texans are bringing the subject up now a days.
Don’t forget Texas has tornados, hurricanes and droughts!!!
I was just going to ping you and here you are.
LOL!
You're incorrigible, or uncorrelated, or corrugated, or something.
/johnny
Silence...
/johnny
/johnny
In Oklahoma our unemployment rate dropped again today as more jobs were added.
Oklahoma’s nonseasonally adjusted unemployment rate dipped to 3.5 percent from 3.8 percent in August and a noticeable change from last September’s rate of 4.1 percent.
September’s total nonfarm employment grew by 13,300 jobs, with the government sector posting the largest gain of 12,800 jobs, an annual seasonal uptick from schools and universities.
“It also does not say that we here provide such a large portion of the resources used by the country. Why don’t we charge some “use taxes” when we export our oil and gas that we choose to produce while we pollute our land so the East and West Coasters can enjoy their lives?...”
Amen!!!! Actually, the southern gulf oil/gas producing states should all join Texas such as Louisiana and Mississippi, in secession. Charge a 50% “user fee” on every drop of hydrocarbon product leaving the area and allow no Rat liberals to live in, or migrate, to the area.
I’m all for secession
That didn't work so well last time, and seems to be, defacto, unlawful, possibly seditious, and more important, it won't work.
Real Texans (not newbie "concerned posters") just need to wait for the right price and leverage the rest of the states. Buy 'em outright. Sell off the assets to recoup the cost, and rent out whatever is left.
The democrat run states should be selling for pennies on the dollar soon.
And we could lease the FedGov to the Russians to run the new USSR, helping both real Americans and the Russians.
/johnny
I can't imagine why anybody would want to move to TX--especially people from the Northeast or Californina. They woul hate it here.
Well, there's the answer... Everybody (liberal) that was packing for Texas should head to Oklahoma.
They have many lovely lakes and hills and stuff like that. It doesn't get quite so hot as Texas, and they don't have quite so many tornadoes.
I don't spend any time up there since 1998, because of... well... anyway... I almost miss it sometimes.
Oklahoma is OK!
I knew Oklahoma would come in handy one day....
/johnny
/johnny
Bumper sticker I had said, “Let The Ba$tards Freeze In The Dark”
And another thing - Texas has more Fortune 500 AND more Fortune 1000 companies than any other state. Go to Fortune’s web site and see for yourself.
I don’t know what you mean by ‘not as conservative’.
I’ll call Corpus ‘blighted’ compared to the rest of the state. It’s just not as updated as other areas. TX is majority hispanic...hello! Illegals congregate where there are low end jobs which usually means population centers.
I would get depressed if I lived in Corpus. Maybe you can get out and explore other areas. There are many great places in the state.
I know what you mean, we have our libs somewhat contained in the Austin area so we can keep an eye on them...surrounded so to speak ;^)
I’ll be the first in line to sign no...
Make that: “sign on.”
I make it a practice to tell people whom I don’t like or who are liberal, all about Texas’ many flaws. I encourage them to look toward FL or AZ for retirement informing them that they simply wouldn’t like it here in TX.
I’m doing them a big favor, you see. Yep, for sure.
That's right. Higher property taxes make up for no income tax. The bright side is that most of your property taxes are earmarked for school districts, public utilities, and so on. That's better than giving the legislature a big pot to swill at. Besides, if you don't want to pay the tax you can rent. What do you do if you don't want to pay an income tax?
Maybe other states should adopt some of these policies.Pumping oil out at $150 a barrel and getting $3.50 gal. for gas had nothing to do with it I suppose.
And lots of wind, blowing sand, trees with nails(mesquite), big, really big rattlesnakes, fire ants, africanized bees. It is so hot here it is like living next door to hell. Dallas and the panhandle has ice storms in the winter. Wild hogs(open season), walking handbags(armadilla), gators(boots), copper heads(belts)and of course cops that take no chit. We kill murderers and praise folks that handle guns well. We work hard, sweat hard and play hard so all the damn yankees can stay home. We don’t want our state to become the likes of Filthydelphia, Chicago, New Yawk as well as the filth pit know as LA.
Ahhhh, I feel better now.
That's what I like to hear... and many share that same belief here in Fort Worth.
LOL!!! No liberals welcome in Oklahoma!
People even say "May God Continue To Bless You" on their answering machines!
A liberal would HATE it here. Those nasty tornadoes and long commutes can really spoil your day. California is a much better place to retire, honest!
You got it.
Sign me up!
No arugula, either...
And either a coyote or a red-tailed hawk got our last 3 cats - but there's more where they came from.
And someone just shot the last 3 yankees who tried to tell us we needed to raise taxes so we could be more like Michigan...
We (Texas) have a surplus, CA has a deficit. It’s only fair for that money to be stolen and given to the poorer (less responsible) states.
Socialism applies to individuals, cities, counties, states, and countries. What happens when the world goes bankrupt, are there more responsible planets out there to take on the debt of worldwide socialism?
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