Rick Perry: Job Creation in an Oil-Driven Economy

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Texas has created almost as many jobs during Rick Perry’s career as governor as the rest of the country has lost. So what’s the secret behind the “Texas Miracle”? Rising GOP presidential candidate Perry says it’s about putting job creation in the private sector’s hands. “We know dollars do far more to create jobs and prosperity in the people’s hands than they do in the government’s,” Perry recently said. But the fact is, government has had a lot to do with job creation in Texas. Texas’s public sector has grown 19% over the past decade, more than twice the growth in private sector jobs. And lot of those jobs can be traced back to Texas’s oil boom, rather than the low taxes and scant regulation Perry credits with luring them in. That’s the topic of this week’s Economy page in the magazine. Read more here.