Gov. Perry Promotes Texas’ Fiscal Responsibility While Washington Proposes Trillions in Deficit Spending and Bailout Revelations

Stresses education and job creation as keys to continued success during visits to small businesses in Dallas and Amarillo

DALLAS – Gov. Rick Perry today shared his message of fiscal responsibility during a visit to Texas Instruments. The governor spoke against Washington’s out of control spending, specifically noting the most recent budget that anticipates more than $5 trillion in deficit spending over the next five years, and noted reports of illegal activity related to the $700 billion Wall Street bailout. Earlier Tuesday, Gov. Perry spoke in Amarillo.

“This is just another example of the folks in Washington spending money they don’t have on solutions they haven’t thought through for problems they don’t really understand in an attempt to make people more dependent on them,” said Gov. Perry. “When you add in the latest revelations from the Inspector General reviewing the bailouts, including possible criminal and civil fraud, tax evasion, insider trading, and public corruption, you really have to wonder if the word ‘accountability’ is anywhere in Washington’s vocabulary.”

Gov. Perry further emphasized the importance of fiscal discipline by reiterating the need for Texas to amend its constitution with two key provisions: requiring a two-thirds vote of the Legislature to approve tax increases and limiting spending growth to the combined growth rates of Texas’ population and inflation. Both amendments will ensure the continued fiscal discipline that allowed Texas to balance its budget in 2009 while setting aside billions for its Rainy Day fund and cutting taxes for more than 40,000 small businesses.

In his remarks, Gov. Perry also stressed the importance of strengthening Texas’ education while maintaining a focus on job creation efforts as the keys to preparing an equipped workforce and overcoming the challenges of the struggling national economy. He reiterated his recent proposal calling on the Texas Education Agency and the Department of Public Safety to work with local school districts to further leverage the privilege of a driver’s license as an incentive to keep students engaged in the education process.

To ensure Texas continues providing a strong education to meet the challenges of an increasingly competitive workplace, Gov. Perry has announced a proposed expansion of the state’s Virtual School Network to improve access to high quality, online courses for high school students and help recapture students who have dropped out of school. Gov. Perry has also called on doubling the number of Texas Science, Technology, Engineering and Math (T-STEM) academies in an effort to educate more Texas students in the subjects required of an increasingly high tech economy and workplace, and expanding the UTeach Program in an effort to recruit university students earning math and science degrees into teaching.

Gov. Perry also credited the comparative strength of Texas’ economy to four principles that Texas leaders have upheld including fiscal restraint, a predictable regulatory climate, a reasonable and fair legal system, and an accountable public school system that is better preparing our children to compete in the workforce.

“Because we have kept it simple and stuck to our guns, entrepreneurs know that they can succeed on their own merits without being taxed, regulated and frivolously sued out of existence,” said Gov. Perry. “They also know that our workforce is getting stronger by the day because we have improved the quality of public education by emphasizing accountability, teacher incentive pay and mastery of the basic subjects.”

Acknowledging the challenging economic climate posed by the national recession, the governor pledged to keep working until every Texan who wants a job has a job and noted that Texas’ commitment to upholding a business-friendly climate will lead the state to continued economic success. Texas economist Ray Perryman recently noted that Texas is the “last in and first out” when it comes to the current economic downturn, pointing to the job growth that Texas has experienced in three of the past six months. The Texas Workforce Commission has also reported that Texas created more private sector jobs than any other state in the nation over the last 10 years and has the lowest unemployment rate among the 10 largest states in the nation.

“The story of hardworking innovators coming together to attract the best and brightest is played out again and again all across Texas as people take advantage of the job-friendly climate we’ve created and risk their capital in pursuit of a vision,” said Gov. Perry. “The fact is, even though no one is immune to the effects of the economic downturn, Texas is better off than just about every other state, thanks to years of disciplined conservative leadership at every level.”