Well the miracle is not looking so good as more details come out.
First about jobs.
Turns out its actually the government sector jobs that is leading the charge, private sector has seen a net loss of jobs. Infact, 47% of all government jobs added in the US between 2007 and 2010 were added in Texas.
http://www.csmonitor.com/Business/O...-the-government-are-chummier-than-you-d-think
Details
Then there is the state debt.
Plus the fact that he got 44 billion from the Federal government most of which was used to plug budget deficits among other things.
Then there is this - Taxpayer supported venture funds going directly to campaign donors.
First about jobs.
Turns out its actually the government sector jobs that is leading the charge, private sector has seen a net loss of jobs. Infact, 47% of all government jobs added in the US between 2007 and 2010 were added in Texas.
http://www.csmonitor.com/Business/O...-the-government-are-chummier-than-you-d-think
Details
- State government jobs. TX: Up 8.4%. U.S.: Down -0.1%.
- Local government jobs. TX: Up 6.1%. U.S.: Down -1.7%.
- Private-sector jobs. TX: Down -0.5%. U.S.: Down -6.6%.
- Oil and gas jobs. TX: Up 6.7%. U.S.: Up 4.5%
- Healthcare jobs. TX: Up 12.6%. U.S.: Up 6.2%.
- Private education jobs. TX: Up 17.4%. U.S.: Up 6.5%
- Tech jobs. TX: Down -10.9%. U.S.: Down -10.9%
- Manufacturing jobs. TX: Down -11.6%. U.S.: Down -15.8%
- Construction jobs. TX: Down -14.5% U.S.: Down -26.4%
Then there is the state debt.
From 2001 to 2010, state debt alone grew from $13.4 billion to $37.8 billion, according to the Texas Bond Review Board. That’s an increase of 281 percent. Over the same time, the national debt rose almost 234 percent.
Still, the trend is undeniable. While Texas lawmakers have refused to raise taxes — and often criticize Washington for borrowing and spending — the state has been paying for much of its expansion with borrowed money.
http://www.star-telegram.com/2011/07/12/3217429/texas-debt-growing-at-faster-rate.html
Plus the fact that he got 44 billion from the Federal government most of which was used to plug budget deficits among other things.
Then there is this - Taxpayer supported venture funds going directly to campaign donors.
The Emerging Technology Fund was created at Mr. Perry's behest in 2005 to act as a kind of public-sector venture capital firm, largely to provide funding for tech start-ups in Texas. Since then, the fund has committed nearly $200 million of taxpayer money to fund 133 companies. Mr. Perry told a group of CEOs in May that the fund's "strategic investments are what's helping us keep groundbreaking innovations in the state." The governor, together with the lieutenant governor and the speaker of the Texas House, enjoys ultimate decision-making power over the fund's investments.
Among the companies that the Emerging Technology Fund has invested in is Convergen LifeSciences, Inc. It received a $4.5 million grant last year—the second largest grant in the history of the fund. The founder and executive chairman of Convergen is David G. Nance.
In 2009, when Mr. Nance submitted his application for a $4.5 million Emerging Technology Fund grant for Convergen, he and his partners had invested only $1,000 of their own money into their new company, according to documentation prepared by the governor's office in February 2010. But over the years, Mr. Nance managed to invest a lot more than $1,000 in Mr. Perry. Texas Ethics Commission records show that Mr. Nance donated $75,000 to Mr. Perry's campaigns between 2001 and 2006.
Starting in 2008, Mr. Perry also appropriated approximately $2 million in federal taxpayer money through the auspices of the Wagner-Peyser Act—a federal works program founded during the New Deal and overseen in Texas by Mr. Perry's office—to a nonprofit launched by Mr. Nance called Innovate Texas. The nonprofit was meant to help entrepreneurs by linking them to investors. It began receiving funding on Dec. 31, 2008, soon after Mr. Nance's previous company, Introgen Therapeutics, declared bankruptcy on Dec. 3. According to state records, Mr. Nance paid himself $250,000 for the two years he ran Innovate Texas. Innovate Texas, whose listed phone number is not a working number, could not be reached for comment.
http://online.wsj.com/article/SB10001424052702304760604576428262897285614.html#articleTabs=article