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Gov. Rick Perry
Topic: Gov. Rick Perry (Read 149 times)
Gov. Rick Perry
May 05, 2015, 11:44:10 PM »
May 5, 2015 7:20 p.m. ET
During the 14 years I served as governor of Texas, I made job growth the highest priority of my administration. And the results are clear: Texas created 1.5 million jobs from December 2007 to December 2014. Without that employment surge in Texas, the nation as a whole would have been 400,000 jobs under water.
Not only is Texas the nation’s economic engine, it is also a major hub for exports. During my third year in office, Texas became the nation’s leading exporter, a title it has retained. Today, Texas products, in areas such as energy, technology and manufacturing, account for nearly one-fifth of all U.S. exports.
The U.S. Export-Import Bank has played a role in making this happen. Since 2007 more than 1,200 Texas companies have obtained help from Ex-Im in financing more than $24 billion in exports.
As governor, I feared that because global competitors use institutions similar to the Ex-Im Bank to help their companies export goods to us, shutting down the Ex-Im Bank would mean unilaterally disarming in a fight that Europe and China intend to win. That is why, in June 2014, I wrote a letter to Congress urging the reauthorization of the Export-Import Bank.
Next month, the bank comes up for reauthorization again—but this time I can’t get on board. I have been deeply disturbed by recent revelations of corruption and bribery at the institution. On April 13 the Justice Department announced that a former Ex-Im loan officer, Johnny Gutierrez, had pleaded guilty to accepting bribes on 19 separate occasions from people with interests before the bank. Michael McCarthy, Ex-Im’s acting inspector general, has told Congress that there are 31 corruption and fraud investigations into the bank still pending.
Those at Ex-Im who have abused the public trust must be pursued to the full extent of the law. But it may be that the best way to mend Ex-Im is to end it. Here’s why.
One of the biggest challenges America faces is sluggish economic growth. This is complicated by an absurdly complex tax code, which is riddled with lobbyist-driven loopholes and saddled with the highest corporate tax rate in the developed world. The ever-expanding federal debt—fueled by ever-rising federal spending—is another major challenge, particularly because we can’t grow our way out of this $18 trillion hole. A third challenge is an explosion of new regulations, thanks to ObamaCare, the Dodd-Frank law and President Obama’s out-of-control executive branch.
If we want U.S. companies to win in the global marketplace, we have to do three things. First, we need to clean up the tax code, ensuring that corporate taxes are fair, simple and competitive. Today, the top federal corporate tax rate is 35%, one of the highest in the developed world. And that is before you pile on state and local taxes.
Second, we have to begin to retire the federal debt by reducing spending instead of increasing taxes. There is considerable evidence that as the size of a nation’s public debt approaches its annual economic output, growth slows to a crawl. In 2014, according to the Congressional Budget Office, the debt-to-GDP ratio was 74%—and climbing.
Third, we have to make the regulatory system stable and predictable so that it’s easier for U.S. businesses to get off the ground. The Competitive Enterprise Institute estimates that, over the eight years President Obama has been in office, more than 600,000 pages have been added to the Federal Register, Washington’s compilation of regulatory notices. From 2008 to 2011, more American businesses closed their doors than opened them, ending a record of business dynamism that had been in progress for at least 30 years, according to a Brookings Institution study released last year.
The problem is this: We won’t have the moral credibility to reduce corporate taxes if we continue to subsidize corporate exports for corporations that already enjoy low effective tax rates, like General Electric and Boeing. We won’t have the moral credibility to reform government programs that benefit future retirees if we don’t first reform government programs that benefit big businesses like Caterpillar. We won’t be able to give businesses more regulatory latitude if we continue to operate a government bank with an emerging record of corporate corruption.
And that is why the time has come to end the Export-Import Bank. We can’t let Ex-Im get in the way of reforms that would expand opportunity for all Americans.
We could pair Ex-Im’s retirement with corporate tax reform—a more effective way to improve the competitiveness of U.S. companies. We should work with our partners in the World Trade Organization to roll back the use of export-import banks by other countries, so that American exporters don’t face an unfair playing field. The end result would be freer trade and higher growth.
In Texas we have long maintained a stable and predictable regulatory climate. We balanced our budget for 14 straight years. And we have worked hard to keep the tax burden on families and employers as low as possible. Those policies have resulted in a sustained economic boom for the state.
If we want to bring Texas’ prosperity to the nation as a whole, we’ll have to do a lot more than terminate Ex-Im. But that’s where we should begin.
Mr. Perry was governor of Texas from 2001 to 2014.
Re: Gov. Rick Perry
Reply #1 on:
June 05, 2015, 08:51:06 AM »
I admit to being surprised, but I thought Perry's announcement speech, and his extensive interview with Hannity afterwards (Hannity actually behaved himself and asked fair and balanced questions!) were both quite strong. The man clearly has been boning up on foreign affairs since last time and I thought he spoke well and persuasively about them. His talking points about what he did as governor are quite strong (e.g. 1/3 of the jobs created during the Obama years were in Texas). Indeed, in many ways he appears to be a very well rounded candidate: strong executive experience with proven results. Of course there is the "Oops!" thing, but he appears emotionally centered and comfortable in responding when it comes up. The man bears a second look I'm thinking.
Rick Perry’s Pretty Awesome Tenure as Governor
DNC chair Debbie Wasserman Schultz: “Rick Perry’s failed tenure as governor of Texas tells us everything we need to know about why he should never and won’t ever be president of the United States.”
“Failed tenure as governor of Texas”?
I’m about to tell you something I don’t think I’ve ever said before, and I don’t know if I ever will again. “Matt Yglesias wrote a good piece on this at Vox.” No, really. Maybe he was hacked, or maybe he was hit on the head or something. But the whole piece is spectacularly fair -- giving Perry a lot of credit for what went right in Texas during his tenure, but also pointing out where broader economic, political, or cultural trends helped the state:
I was working for ThinkProgress at the time Perry kicked off his campaign, so I got to see the kind of “Texas Miracle” debunkings that liberals were working on before Perry’s campaign imploded. It mostly consisted of very bright people coming up with not-so-persuasive arguments.
It was all about oil: Factually, this just doesn’t hold up very well. Oil extraction is a big business in Texas, but the state is far too large for a single industry to power its entire economy.
Yeah, but the jobs are low-paid: There are a lot of low-wage workers in Texas. But the people who have those jobs evidently think they’re better than no job at all. And Rick Perry’s Texas generated a lot of jobs.
It’s really just population growth: This is true. Texas’s unemployment rate did get pretty high during the recession. Job growth was so robust because the state’s labor force was growing so rapidly. But this is really a point in Perry’s favor. People were voting with their feet — in droves — to move to Texas.
It’s just warm weather: Again, it is true that there is a marked tendency for warmer states to grow faster than colder ones. Scott Walker can’t change the fact that Wisconsin is just a little cold and remote. But California has better weather than Texas, and its population and workforce aren’t growing nearly as fast.
Obviously, you can’t lay the credit (or blame) for a state’s economic success or failure at the shoes of a single person. But Perry is a leading member of a larger Texas conservative movement that has been politically dominant in the state for a long time and has clearly shaped the situation in important ways. Due to Perry’s long tenure in office, Texas public policy very much reflects his values — a light regulatory touch, low taxes, and spending that’s focused on infrastructure rather than social assistance. And it’s more or less achieved what it’s supposed to achieve: rapid job growth.
Oh, by the way:
Texas continues to outpace the national average in high school graduation rates according to annually released federal data, state education officials announced Friday.
Almost nine out of 10 — 88 percent — of students in the Class of 2013 earned their diplomas on time, compared with a national average of 81 percent. Iowa was the only other state that posted a higher rate.
WSJ on Gov. Rick Perry
Reply #2 on:
June 05, 2015, 09:31:34 AM »
Former Texas Governor Rick Perry on Thursday joined the elephant herd running for President. And while the Beltway crowd considers the 65-year-old a long shot, he deserves as much of a hearing as anyone else given his impressive 14-year record as a reform conservative.
In 2012 Mr. Perry jumped into the presidential race late and unprepared. He stumbled during debates and couldn’t parry Mitt Romney, who pounded him for the non-sin of supporting a state law allowing in-state tuition for children brought into the country illegally.
Opinion Journal Video
Wonder Land Columnist Dan Henninger on the Texas governor’s run for President. Plus, can anyone reverse President Obama’s executive overreaches? Photo credit: Getty Images.
Mr. Perry must also overcome a dubious Austin grand jury indictment charging him with two felonies. His heinous crime? He threatened to use his line-item veto to strike funding for the Travis County District Attorney’s Public Integrity Unit unless DA Rosemary Lehmberg—who had been found drunk in her car—resigned. Unlike many of President Obama’s actions, this was a constitutional exercise of executive power.
In any case, the indictment shouldn’t distract from Mr. Perry’s Texas record of political and economic success. In 2001 he was lucky to inherit a relatively prosperous state. Texas’s chief economic advantages include its lack of personal and corporate income taxes. It’s also a right-to-work state, which has weakened labor unions.
Yet Mr. Perry deserves credit for growing this political endowment. In 2003 the state capped damages for pain and suffering in medical malpractice lawsuits at $250,000, which has helped cut providers’ insurance premiums by nearly half. This has attracted more doctors to the Lone Star State to accommodate increasing patient demand.
In 2005 Mr. Perry signed a workers compensation reform that has helped slash business insurance premium rates by half. A 2011 “loser pays” tort reform has reduced the cost of business by warding off frivolous lawsuits.
The Tax Foundation ranks Texas’s business climate tenth best, and the state’s growth spurt vindicates the Perry formula of low taxes and a light regulatory touch. Between 2000 and 2010, Texas gained a net 781,542 domestic migrants—second only to Florida—while California lost 1.9 million, according to the Manhattan Institute. Last year Texas boasted the three fastest-growing counties with populations above 250,000 (Fort Bend, Montgomery and Williamson).
Between January 2011 and 2015, Texas had the third-highest job growth in the country at 12.5%, after North Dakota (22.3%) and Utah (13.9%). That compares to 10.5% in Florida, 6.2% in Ohio, 6.1% in Wisconsin and 4% in New Jersey. During Mr. Perry’s tenure, Texas created more than three of every 10 new jobs in the U.S. The only states that experienced faster economic growth between 2000 and 2013 were Alaska, Wyoming and North Dakota.
Liberals are trying to dismiss Mr. Perry’s record by attributing this success to the fracking boom, as if exploiting opportunities is unfair. Yet the oil and gas industry constitutes only 13% of the state’s economic output and 2.5% of its employment. Even amid the fracking bust over the last year, employment has grown in every industry save mining and manufacturing, according to Texas A&M University’s Real Estate Center.
These columns have criticized Mr. Perry for using government handouts to attract businesses to Texas. Yet his recent renunciation of the Export-Import Bank in these pages suggests an epiphany on corporate welfare. Voters will have to judge how much progress Mr. Perry has made as a presidential campaigner. But promising to bring Texas prosperity to the rest of the country is bound to intrigue voters suffering from the stagnant real incomes of the Obama era.
Re: Gov. Rick Perry
Reply #3 on:
June 07, 2015, 02:43:40 PM »
Crafty: " I admit to being surprised, but I thought Perry's announcement speech, and his extensive interview with Hannity afterwards (Hannity actually behaved himself and asked fair and balanced questions!) were both quite strong. The man clearly has been boning up on foreign affairs since last time and I thought he spoke well and persuasively about them. His talking points about what he did as governor are quite strong (e.g. 1/3 of the jobs created during the Obama years were in Texas). Indeed, in many ways he appears to be a very well rounded candidate: strong executive experience with proven results. Of course there is the "Oops!" thing, but he appears emotionally centered and comfortable in responding when it comes up. The man bears a second look I'm thinking."
Yes, he has the best record, perhaps the best experience, is right on nearly all the issues (from my point of view), and is very under-rated because of one freeze up under pressure on a rather trivial point.
That said, he is not my first choice. I thought he came out too perfectly aimed at winning votes on the right, when he needs to persuade and win those 2 or 3% in the middle to be President. All his wins were in Texas, an important state, but an already safe one, so he has no real political experience having to win a swing state or to connect and appeal to people from other regions. Great executive experience. Virtually no foreign policy or Washington experience. It's a tradeoff that they all have to overcome on one side or another of it.
The main thing is that by having so many solid candidates ready to be President, it elevates the level required for whoever wins the nomination.
Who do they have over on the other side with Perry's experience and success? Nobody. What has Hillary ever run on a par with governing the State of Texas, one of the largest economies in the world? Nothing. What Dem Governor has Perry's economic record - with more jobs added than the other 49 combined? Obviously no one.
Gov. Rick Perry on Dodd-Frank, Wall Street,etc.
Reply #4 on:
June 08, 2015, 03:55:58 AM »
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