More Piling on the “Texas Miracle”

Now that Rick Perry has joined the already crowded GOP Presidential candidate field, look for even more examination of the so-called “Texas Miracle.”  Paul Krugman is the latest to jump on the bandwagon bashing Perry’s claim to have led the Texas economy to great things through low taxes and lax regulation.  Krugman concludes, “that tax cuts are a universal elixir that cures all economic ills is the ultimate zombie idea — one that should have died long ago in the face of the facts, but just keeps shambling along.”  And while he is at it, Krugman throws Kansas under the bus too.

The states, Louis Brandeis famously declared, are the laboratories of democracy. In fact, Mr. Brownback himself described his plan as an “experiment” that would demonstrate the truth of his economic doctrine. What it actually did, however, was demonstrate the opposite — and much the same message is coming from other laboratories, from the stumble in Texas to the comeback in California…

Nothing that has happened in the past quartercentury has supported tax-cut mania, yet the doctrine’s hold on the Republican Party is stronger than ever. It would be foolish to expect recent events to make much difference.

Still, the spectacle of the Texas economy coming back to earth, and Kansas sliding over the edge should at the very least make right-wing bombast ring hollow, in the general election if not in the primary. And someday, maybe, even conservatives will once again become willing to look at the facts.

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