The New York Times is questioning whether Texas's economic situation could harm its former Gov. Rick Perry in his expected presidential campaign.
looked into the Lonestar State's growing economic crisis as oil companies lay off thousands of workers.
In March, 25,000 Texas jobs were lost, reports the Times. In April, the oil industry alone laid of 8,300 workers due to low oil prices. Texas' unemployment rate of 4.2 percent is still better than the national average of 5.4 percent, however.
Perry, a Republican, served as Texas governor from 2000-2015; in 2013, he announced he would not run for another term in the 2014 election. He is expected to announce
his candidacy for president Thursday.
The Times wonders whether Texas' economic situation, despite the fact that Perry is no longer governor, could hurt his chances in the upcoming election.
The report does point out that Perry steered Texas to prosperity during his time in office.
"Even after the recent slide, Texas still looks like a bright spot in the national economy," the Times report reads. "During his years as governor, from December 2000 to January 2015, Texas created more than three out of each 10 new American jobs, and employment rose more than 2.2 million, a jump of nearly 25 percent. Nationally, payrolls increased just 6 percent over the same period.
"Mr. Perry's backers say the policies in place on his watch — no state income tax, a light regulatory touch, tax breaks for business and unquestioning support for the oil industry and hydraulic fracturing — were crucial to spurring the jobs bonanza."
It will be up to Perry and his campaign team, it seems, to remind voters of his accomplishments instead of the more recent economic happenings.
One Texas economist told the Times he thinks up to 175,000 jobs could be lost in the state because of the oil price plunge. The national average of a regular gallon of gas has fallen 91 cents in the last year, according to AAA.
Another economist told the Times Perry deserves to be recognized for boosting the state's economy.
"But just as important was oil at $100 a barrel," Nariman Behravesh added. "Clearly the energy boom helped, but parts of West Texas are now in recession because of the oil bust. We have to get past the oil cycle to get a better read on it."
Perry received a presidential endorsement
from the widow of Chris Kyle, the Navy SEAL featured in "American Sniper."
"Believe me, they are a breath of fresh air in a political system full of people playing games and twisting the truth," Taya Kyle said of Perry and his wife Anita.
Perry could lack the funds
to execute a strong campaign, however. And his 2014 indictment
on felony abuse-of-power charges could harm his image in the eyes of voters.
© 2021 Newsmax. All rights reserved.