Texas is one. Their unemployment rate is only 6.4 percent, well below the US average."The governor's main message is Texans who hire Texans drive our state's economic engine, and the last thing we need to do is burden them with higher taxes."
They can see exactly how further government intervention will damage their economy. Louisiana, Alabama and Mississippi have already rejected the bail out money.
One silver lining on this dark cloud of recession is that at some future point we will be able to see which states have taken the right road. I will put my money on those who refuse to expand welfare.
2 comments:
Hopefully you are right. I wouldn't like to put money on it though -- the recovery is coming a hell of a lot faster than those doomsters who foresee a future of us battling each other for scraps in the streets would like. And the govt will be given credit for the turnaround.
Unfortunately I think we could soon be viewing the corpse of Austrian economics.
I'd wager good money not one council or government department in NZ would have the guts to make such very necessary moves.
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