Having officially entered the presidential race just three days ago, Texas Gov. Rick Perry is touting the state’s booming economic growth as a major credential in his candidacy—although some say Perry’s “Texas miracle” might not be as rosy as he indicates. Even before he announced his 2012 bid, Perry emphasized in a budget speech that Texas was “in stark contrast to states that choose to burden their residents with higher taxes and onerous regulatory mandates” and has since suggested that as president he could replicate the state’s economic growth on a national scale. However, economists and skeptics argue that Perry walked into his leadership role when Texas was experiencing a tremendous gas and oil boom, which helped keep the state afloat while the rest of the country went into a recession. He was dealt a prosperous economy, they say, and would be ill equipped to handle a nationwide crisis.
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