The Republi-CON 'Texas Miracle' Myth

"Turns out Rick Perry’s 'Texas Miracle' owes much of its success to... Ben Bernanke. A new research paper from the Dallas Fed finds that Texas has rebounded from recession faster than the rest of the country thanks, in no small part, to actions by the U.S. Federal Reserve. (Yep, the same central bank that Perry occasionally deems 'almost treasonous.') . . .

[W]hy should that be? One theory is that Texas’ banking system was in better shape because of regulations put in place after the savings and loan crisis in the 1980s. Regulations on mortgage finance and lack of zoning restrictions also meant Texas didn’t really suffer through a housing bubble." Read the Washington Post, Rick Perry should send Ben Bernanke a thank-you note.

In addition, one study "concludes that 81 percent of the jobs created in Texas since 2007 have gone to newly arrived immigrant workers—93 percent of whom aren’t US citizens and half of whom are illegal immigrants" Read the Washington Post, Did immigrants take most of the new jobs in Texas?