Texas has a Constitutional limit on state spending similar to the Taxpayer Protection Act Senate conservatives passed last year. Has the Texas economy performed well with spending limits?
Absolutely. Consider this from City Journal. “The number of jobs in Texas has grown by a truly impressive 31.5 percent since 1995, compared with just 12 percent nationwide, according to Bureau of Labor Statistics data.”
Over the same time, North Carolina, without any spending limits, saw job growth of only 18% according to BLS.
Of course, some will say the Texas economy is just oil. But oil represents only 3.4% of the state’s jobs.
The Texas economy has far outpaced North Carolina and the nation. Spending limits keep politicians under control in Texas. North Carolina can benefit with the Taxpayer Protection Act because it’s always smart to put a short leash on a politician.