The Texas Miracle Is No Myth

Just hours after Rick Perry officially entered the presidential race last Saturday, liberals started to attack Texas’s economic record. Paul Krugman got the ball rolling in Sunday’s New York Times: “So what you need to know,” Krugman claimed, “is that the Texas miracle is a myth, and more broadly that Texan experience offers no useful lessons on how to restore national full employment.” With the latest Gallup poll showing that just 26 percent of Americans approve of President Obama’s performance on the economy, liberals have little choice but to try to distort what is happening in Texas. To do so, they will have to rely on sleight of hand. Krugman continued: 

In June 2011, the Texas unemployment rate was 8.2 percent. That was less than unemployment in collapsed-bubble states like California and Florida, but it was slightly higher than the unemployment rate in New York, and significantly higher than the rate in Massachusetts. . . .

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