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Perry's claim that Obama has wrecked the U.S. economy is not supported by facts. Most economists argue that the president's $825 billion stimulus plan, plus bailouts begun under President George W. Bush of troubled financial institutions and the U.S. auto industry, along with monetary stimulus by the Federal Reserve, helped prevent a total economic meltdown and kept the recession from being deeper and longer than it was. It's true that the national unemployment rate is 9.1 percent now as opposed to 7.7 percent when Obama took office. But the bulk of the 7 million-plus jobs lost in the recession, which officially began in December 2007, came while Bush was still president and in the earliest months of the Obama administration before his initiatives had a chance to take hold. It's not clear who Perry is referring to when he suggests some say the Texas record can't be replicated at the federal level. Romney, a former Massachusetts governor, has said Texas's Republican legislature, loose regulatory climate and right to work laws had given Perry some advantages in pursuing his agenda that other governors don't have.
[Associated
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