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Texas has discovered the formula for economic growth – The Daily Caller

08/09/2011

Amid huge corporate losses, massive job layoffs, government bailouts, unsustainable national deficit spending, state bonds rated as junk and discussions of states filing for bankruptcy, Texas stands out as a shining example of economic stability and growth.

Since the recession bottomed out, 37 percent of all new jobs in the United States have been created in Texas, even though the number of government jobs in Texas has declined by 1.1 percent in the last year.

During the recently concluded legislative session, Texas also reduced taxes for 40,000 small businesses.

How in the world can a state help create 45 percent of all new non-farm jobs, balance a budget, cut taxes and dramatically expand world-renowned medical centers in these tough economic times? Professors at the London School of Economics may not teach this simple formula, but it works:

Read More at The Daily Caller.

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