Texas economy remains strong

Houston Chronicle:

Gov. Rick Perry said today that the economy in Texas is in much better shape than it is nationally but noted that state government can't take anything for granted.

"We're not an island," he said. "As strong as our economy is, we're still interlaced with the economies of other states that are easily in worse condition than we are."

Perry made a few public comments before convening a closed door meeting of financial leaders from several state agencies, including the state's multibillion-dollar retirement funds for teachers and state employees.

He also took the opportunity to once again criticize Congress for its passage last week of the $700 billion "bailout of corporate America" sought by the Bush administration.

"It doesn't surprise me their miracle cure didn't seem to work," he added, referring to the continued drop in stock markets.

While the United States as a whole was losing 279,000 jobs during a recent 12-month period, Texas was gaining 252,000 new jobs, he said.

Perry credited the job gains to Texas' "entrepreneurial spirit" and the state's relatively low taxes, regulatory climate and recent restrictions on civil lawsuits and judgments.

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California and other states need to encourage production of energy in their state in all forms and lower taxes. They will create jobs and more revenue. If we can remove the restrictions on offshore drilling other states can benefit from the jobs that an energy economy brings.