When the recession came to Texas
DeCanio, Geoffrey Stephen
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For years, Texas’ economy seemed to be insulated from the economic uncertainties faced by the rest of the country. But now, reeling from deficits, the strains of immigration, and a troubled housing industry, Texas is confronted with the realities of trying to survive and thrive in the midst of recession. May still believe Texas plays by a different set of economic rules. Contrary to this opinion, the Texas economy is neither inherently better nor more resilient than any other part of the country. In the global economy, Texas has no particular advantage over any other state. The year 2011 is a defining one for Texas. Its legislature will not meet again until early 2013, and the policies it decides upon now will have an incredible influence on the nature of its economic recovery. Texas remains at an economic crossroads.