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"Still, data from the Center on Budget and Policy Priorities suggest that the Texas budget gap is worse than New York’s, about as bad as California’s, but not quite up to New Jersey levels".
Krugman's professional and academic work earned him a Nobel, and generally he's respected for that. His op-eds, however, are unreliable because they are so shamelessly partisan. There's already other columnists lining up to debunk his dubious claim about Texas' budget gap being as bad as California's.
You can tell by the way his report is written; he seems to be more spiteful than giving a professional assessment of Texas and its economy.
And how is it written? To me looks like simply listing problems the state has, something that could have been read in any Texas newspaper, especially in the last few months. These facts should come as no surprise for those who really followed Texas economy.
I don't think anyone except RenaudFR has claimed Texas has escaped the recession.
I agree that Rick Perry should not be considered "anyone" by most civil and intelligent considerations, but Mr. Perry was very vocal about Texas's being the "land of opportunity" and essentially belying the impact of the global economic crisis, was he not? Surely you saw his "Texas: Open for Business" commercials. Surely, I'm serious, and I'm not calling you Shirley.
Krugman makes no bones about his political leanings. He is a progressive economist, an outright rejecter of EMH theorizing and critic of policies which permit the unfettered market to trample the prospects of pervasive prosperity and opportunity for the sake of shareholder value and without the creation of any genuine capital opportunity for the general public. Sue him. But I don't believe that's the point. The point is to view how Texas's purportedly proven policy mandates were deemed successful and had inured Texas to the economic reverberations of high unemployment and sluggish growth and juxtapose that with the more austere realities of budget shortfalls and forthcoming government cuts (in jobs, education, social services, you know the same things many in Texas were often quick to deride Californians and its "nanny-state liberalism" for caring about--those liberal whackjobs, don't they know that the only welfare worth your time is corporate and commercial welfare--see our fabulously tepid Texas Enterprise Funds for proof). Texas's path is meant to provide a blueprint for many in the incoming House majority, but the question remains, how successful is that path and how realistic is it on the macro level if it fails on a decentralized platform?
Instead, Texans will view this as an article written by a "pointy-headed" liberal who is "jealous" of Texas...meh. At this point, this unemployed Texan could care less. All the theories in the world and all of the touting of Texas "toughness" have not instilled me with any hope that things will be getting better any time soon.
And how is it written? To me looks like simply listing problems the state has, something that could have been read in any Texas newspaper, especially in the last few months. These facts should come as no surprise for those who really followed Texas economy.
Us Texans are WELL aware that Texas economy isn't perfect; it's the media that keeps insisting Texas is successful. You guys aren't telling us anything new or revealing.
It just appears people got annoyed by renaud [who is from France] and wanted to shut him down.
Paul Krugman is a political pundit first and an economist second. He strikes me as someone who would form an economic opinion to fit his political beliefs, rather than the other way around. He's probably not the best source for unbiased economic opinions.
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