Jason sends along a link to a Weekly Standard article that makes an interesting comparison between Texas and California as widely disparate economic models. The two states have followed quite different paths in developing (or devastating) their economies:
From the Great Depression on, California was a dream destination for Americans. Now it looks more like a nightmare, taking on new debt at a rate of $25 million a day."
Texas, on the other hand, boasts unemployment lower than the national average, a budget surplus, no state income taxes, and low rate of repossession on mortgage defaults, Trends writes.
In other words, Texas is economically ascending, while California is in a nosedive.
Texas by itself accounted for 70% of the new jobs created last year. How? Why? The article gives four reasons:
First, Texans believe in laissez-faire markets with an emphasis on individual responsibility. California, on the other hand, has favored central planning solutions and reliance on a social safety net for the past two decades.
Second, California treats environmentalism as a "religious sacrament," rather than just one component in people's quality of life. Texans take a more balanced approach.
Third, California elevates "ethnic diversity" above "assimilation," while Texas has done the opposite.
Finally, while Texas has emphasized streamlining regulatory and litigation burdens, California has used the government to transfer wealth from its creators to special interest groups.
In other words, California has pursued a policy of massive spending and high taxes and the result is that productive citizens and businesses are either crushed or have fled the state. Texas is much more business friendly and is consequently in much better fiscal shape with much better employment numbers.
So, which of the two models are the Democrats in Washington determined to impose on the country? Silly question.RLC