(Jarad Bernstein, via BLS data)
Will the mainstream media report this chart?
It turns out that as reported at TPM Rick Perry’s Texas Job miracle is nothing more than the successful implementation of Keynesian economics. The chart above shows it all.
Inasmuch as Texas is a low wage state, a low regulation state, and a business laissez-faire state, the economic collapse had a disastrous effect on private sector employment. What saved Texas? Look at the chart. 178 thousand private sector jobs were lost. 125 thousand government sector jobs were created. This created a small net loss of jobs of 53 thousand jobs. In other words in touting Texas’ employment success, Rick Perry is supporting Keynesian economics even as he condemns government.
Every Progressive and Liberal blogger should blog this story now and often. A letter and call to the Whitehouse is in order as well. Sometimes one wonders if these guys don’t have enough oppositional researchers working. Well they have got us.