Texas' good credit rating improves, thanks to leadership

Texas continues to outperform the country…Texas’ credit rating improves

Texas created more jobs than any other state last year (70% of the jobs created in the U.S. were in Texas), is the number one exporting state, the top state for businesses to relocate, has the most Fortune 500 Companies, has been rating #1 for transparency, has more wind generation than any other state, on and on. Now our good credit rating has improved.

Standard & Poors has raised Texas Issuer Credit and General Obligation Ratings 'AA+' from 'AA' on continued diversifying economy S&P raised its issuer credit rating (ICR) and general obligation (GO) rating on Texas to 'AA+' from 'AA' based on the state's continued economic diversification, and expectation that state officials and policy makers will remain committed to the maintenance of an adequate level of reserves in the Economic Stabilization Fund (rainy day fund).

"The ratings continue to reflect our opinion of the state's large and steadily diversifying economy, which despite the recession continues to perform better than the nation in terms of both economic activity and employment."

This doesn't happen without leadership.

Washington, D.C. should look to Texas for answers on how to improve the economy and grow jobs.

You won’t see Texas enacting a global warming tax or attempting to socialize medicine. Is anyone in Washington, D.C. paying attention?

Texas is Number One - AGAIN!

This is Sunshine Week and we are proud to announce that Texas is -- again -- Number ONE! in on-line transparency. Yes, read it and weep, Californians - Sunshine Week  

We have written on it: AFP Responds to Texas' Rank as No. 1 in Transparency 

Here is Gov. Perry's press release: In Case You Missed It, Texas Ranked #1 In Online Transparency (it outlines what 20 categories are considered in determining online transparency). 

We realize the virtues of Texas are far too great to enumerate...but we will name just a few...
#1 - Texas: State Online Transparency
#1 - Texas: Job Creation -
- in the 12 months ending in January 2009, Texas gained 19,900 jobs...
- From December 2007 to December 2008, Texas accounts for 80% of the entire job gains in the nine states with increased employment
- In the past 5 years, the Texas economy added over 1.2 million new jobs.
#1 - Texas: Most Fortune 500 Companies
#1 - Texas: Top State For Business
#1 - Texas: Fastest growing state in the country
#1 - Texas: More wind energy than any other state (some people would just say more "hot air")

In short, Texans don't think in terms of the audacity of hope but in the certainty of superiority.

OK, I know humility is a virtue - this bloggers' apologies for the last comment.

Comptroller Combs touts Texas economy at event honoring Austin-area women

I had the great honor of being recognized among the “Texas Women Movers and Shakers” in Travis County last week.

I was humbled to be among some outstanding women who were recognized at a luncheon hosted by Rosemary Edwards and co-chaired by Katherine Armstrong and Polly Sowell.

Those recognized were Tina Benkiser, Deirdre Delisi, The Hon. Melissa Goodwin, Donna Keel, Teresa Spears, Pam Waggoner and Kathleen Hartnett White...and me.

Texas women are involved in every aspect of public policy and politics in Austin and around the state (and the nation).

Texas First Lady Anita Perry spoke as did Texas Comptroller Susan Combs.

Comptroller Combs provided some uplifting news about the Texas economy which reflects the policy decisions made in Austin.


Texas continues to fare better economically than most other states. With our mix of industries and avoidance of the housing price bubble, Texas should have more resistance to – but not immunity from – recessionary conditions.

• In fiscal 2008, Texas’ gross state product grew by 4.1 percent, versus 1.5 percent for the national economy.
• In the 12 months ending in September 2008, Texas gained almost 248,000 jobs, more than the next 14 top job-growth states combined.
• Over last 12 months, Texas accounts for 54 percent of entire job gains for all states.
• In the past five years, Texas added 1.3 million new jobs to our economy.
• Texas sales tax receipts for September 2008 increased 3.7 percent from the same month the year before.
• Consumer confidence across the nation is weak, as reflected in the lowest consumer confidence index numbers since 1992. Texas’ numbers remain fairly strong, however. In September, the U.S. index stood at 59.8 (with 1985 = 100). The Rust Belt region was 45. Texas’ regional index was 88.5 — the highest of any region in the nation.

Fiscal 2008 was strong for Texas, and although the Texas economy is still expanding, its rate of expansion is slowing. But Texas’ economy is in good shape relative to other states and the rest of the country.

It's thanks to Texas leaders, the women and the women behind the policies that Texas is doing so well relative to other states and the nation.

For more information, go to: http://www.texasahead.org/economy/outlook.html or www.GoodNewsInTexas.com.

-- Peggy Venable