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Enron Advisor Messes with Texas

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You know, there’s a lot to like about Texas. For starters, it’s got jobs. It created 37% of them over the last couple of years, according to the Federal Reserve Bank of Dallas. And it’s got presidential hopefuls U.S. Representative Ron Paul and Governor Rick Perry, with several years of voting and executive background, to give you an idea of where they stand rather than promising “hope and change.”

Lower taxes help businesses create jobs, Paul never voted to raise taxes, and Rick Perry is America’s jobs-creator-in-chief. Yet when it comes to job creation in Texas, progressives continue to be nonbelievers. Maybe they should spend more time talking to those who are employed and less time believing guys like former Enron advisor Paul Krugman.

You would think a Nobel Prize winner such as Paul Krugman would have a clue about job creation. But no, once again the pinup for progressives proves he’s more adept at encouraging job destruction than creation. As His Holiness Mr. Obama vacations on the Vineyard, Krugman and the progressives plead to the spending god for another deluge of stimulus.

In his Sunday New York Times dribble, Krugman tools on Rick Perry’s Texas job growth, calling it “The Texas Unmiracle.” He writes, “So what you need to know 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.” He continues in his rant, “The point is that arguing from this experience that depressing wages and dismantling regulation in America as a whole would create more jobs … involves a fallacy of composition: every state can’t lure jobs away from every other state.”

What’s lost on Krugman is that Americans are moving to Texas because that’s where the jobs are. And if the companies can’t make it in Texas, the next stop isn’t California or New York. The last time I checked, China has been pretty adept at adding jobs. More regulation—advised by Krugman—is only going to push more American jobs to China faster. Yet Krugman and his ilk want to regulate America out of business.

Krugman and the progressives want a president like Obama who sets government spending at 25% of GDP and higher. Centralized power and equality of outcome is what they’re all about. Krugman and the like should spend a few minutes studying Ron Paul’s congressional record, rather than cheering for the president who voted “present” much of the time in Congress. In summary, Paul:

  • never voted for an unbalanced budget
  • never voted for a federal restriction on gun ownership
  • never voted to raise congressional pay
  • has never taken a government-paid junket
  • has never voted to increase the power of the executive branch
  • voted against the Patriot Act
  • voted against regulating the Internet
  • voted against the Iraq war
  • does not participate in the lucrative congressional pension program
  • returns a portion of his annual congressional office budget to the U.S. Treasury every year

On the whole, Ron Paul’s voting record and Rick Perry’s executive background put less government in your life, plain and simple. So clearly there’s a lot to like about these down-to-earth guys and the job growth in the state of Texas. Their policies will put the country back on the road to prosperity rather than keeping it in the ditch, which the policies spouted by Krugman and progressives most certainly will do.

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E.J. Smith - Your Survival Guy

Preparing your investments and family for when disaster strikes.
E.J. Smith is the Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention. E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@youngresearch.com. Sign up here to receive all the best content from Richardcyoung.com each week.