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Gov. Rick Perry positive about strength of Texas economy amid nationwide turmoil
2008-10-07 04:40:59 (GMT) (Caymanmama.com - Dallas News News)
Austin, Texas (CaymanMama.com) — Just day after European government officials took action to rescue major banks from utter disaster, the Dow Jones industrial average plummeted again falling below 10,000–the first drop of this caliber since 2004.
As Texas Governor Rick Perry sat with state agency financial leaders and other state managers to discuss the state of the economy, Gov. Perry remained positive that the Lone Star state’s economy still remains strong amid the turmoil. However, according to a recent report in the Dallas Morning News, Gov. Perry said that in view of the the current stock market crash, the government’s $700 million bailout plan may not do enough to make a positive impact.
“Honestly, it didn’t surprise me that their miracle cure doesn’t appear to have worked,” Mr. Perry told the Dallas Morning News. (Gov. Perry has opposed the bailout legislation.)
The state of Texas has seen an additional 252,000 jobs created between August 2007 and August 2008. Proud of his state, Mr. Perry said, “If you gave every governor truth serum across the country, they would dearly love to have the Texas economy.” His comment comes on the heels of California Governor Arnold Schwarzenegger’s request to borrow $7 million from credit markets or the federal government to fill a funding gap and be able to run basic services.
Gov. Perry said noted that he refuses to run to Washington to bail his state out of any financial hole it may now or ever be in, but he did call for one key factor — vigilance.
“We’re not an island,” Mr. Perry commented. “As strong as our economy is, it’s still interlaced with the economies of other states that are in substantially worse condition than we are.”
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