Rick Perry All About Government Handouts to Business While Cutting Education


 
Texas Enterprise Fund

Rick Perry All About Government Handouts to Business While Cutting Education
 


1 August 2011 at 11:56:29 AM
salon

For the rest of the United States that needs to catch up to what Secessionist Rick Perry is doing, here's a press release about Rick Perry using his Texas Enterprise Fund to invest in Office Depot.

Do those handouts that Rick Perry oversees and picks bring in jobs? Here's from 2010 Abc

Two-thirds of the Texas Enterprise Fund companies that had to meet job-creation goals in 2009 in exchange for millions of dollars in taxpayer money failed to bring in the jobs they promised, according to a report released Wednesday.

That percentage is up from the previous year, when Texans for Public Justice also issued a study on enterprise fund companies and found that 42 percent of those it reviewed were failing to meet their job-creation targets.

What did Rick Perry do after the report about his TEF came out? He changed the contracts.

Gov. Rick Perry's office revealed Tuesday that it changed 11 Texas Enterprise Fund contracts with companies receiving taxpayer-funded grants for creating jobs, making the deals more favorable for the firms.

Two other contracts were ended, including a $20 million agreement with mortgage giant Countywide Financial, which sank into financial turmoil and laid off thousands of workers nationally. Bank of America, which now owns Countrywide, will return $8.45 million after creating only 3,800 of 7,500 promised jobs, Perry's office said.

Perry's office announced the amended and terminated enterprise fund agreements late Tuesday after learning that the nonprofit Texans for Public Justice was releasing a report today detailing enterprise fund contracts that weren't fulfilled or were in trouble. The report also lists companies, such as Austin's HelioVolt Corp., that had contracts with the state changed to reduce job creation requirements or allow more time to fulfill job promises.

"The global recession that hit Texas in 2008 is playing havoc with Governor Perry's signature business-incentive program: the Texas Enterprise Fund," the report states, adding that Perry's office "has quietly redefined success."

Yeah, he's big on *redefining* stuff, especially when he's been caught.I

Incidentally, TPJ points out that you need to watch the actual job numbers, NOT the ones projected at the start when Rick Perry gave away the money, but the actual numbers in compliance.

The Governor’s Office has not come clean about the extent to which its job promises have receded during the recession. More often than not, it continues to tout the larger job numbers found in the original TEF contracts rather than the smaller, amended job targets that it has since negotiated. The last two columns in the accompanying table show five cases where amendments slashed a TEF contract’s total job targets. Although the last of these amendments were signed in late 2009, a June 2010 TEF report on the governor’s website continued to report the larger, outdated job numbers for four of the five projects. While political capital might be squeezed from phantom jobs, the charade breaks down for Texas families that can’t cash a phantom paycheck.

Governor Perry likes to boast about Texas’ economic performance, which he attributes to TEF and to state policies limiting regulations, torts and taxes. As the accompanying graph illustrates, however, Texas’ employment growth rate turned negative starting in February of 2009, according to Texas Workforce Commission data, and did not swing to positive growth until May 2010. Texas’ unemployment rate shot well beyond its peak during the dot.com-bomb,5 hitting 8.2 percent in July 2010 (below the U.S. unemployment rate of 9.5 percent). Whether measured by unemployment, job losses or Texas’ gross domestic product, it is Texas’ worst performance in 22 years, surpassing slumps in 1982, 1985 and 2001, according to a 2010 report by the Federal Reserve Bank of Dallas.7 Although it outperformed the national economy, Texas’ pain was tangible—with 350,000 jobs destroyed in 12 months. Many TEF-subsidized enterprises reported that they, too, have been hammered.

 

On the public education cuts. Here is video of Rick Perry lying about how he won't cut public education and then oops, cuts. Don't forget Rick Perry is all about the money from his donor James Leininger, who wants to kill public education with school vouchers.

Here's Rick perry kicking the can for public education down the road because running for office is more important


Permalink Tags:          
     Views: 16922 
Latest Blog Post by salon -Sid Miller Having a Bad Day about Feral Hogs- Kaput Company Pulls Out (April 25 2017)
More Posts You Might Enjoy
Laugh O Day- Remember When Rick Perry Couldn't Remember the 3rd federal agency he would abolish??
Rick Perry really is a terrible dancer-but i'll give him points for trying
I actually agree with Rick Perry about the State and Power-Whodathunk?
Desperate Much? Rick *Ooops* Perry Puts Out Word He'd Consider Being Trump's VP

 You! Leave a Comment! You Know you Want To!
You must be a registered member to comment on the blog.
Your first post is held pending approval to make sure you're not a spammer bot

 Not registered? Or you can login!

LOGON - Name:Password:

New poster comments are moderated, meaning they won't show up until approved... or not.  Be patient-we have lives outside this blog, so it might take awhile You want to be rude? totally stupid? inappropriate? Racist? Bigoted? Flame war baiter? Your post may be deleted. Spammers or people posting pretend interest comments but really wanting to hawk their latest book or sell stuff or govt propaganda flacks won't see their posts published. Comments do not necessarily reflect the viewpoint of the site owner(salon).
If you have a problem with logging in or registering, please speak up right away. Love your comments. Oh, except spammers
More on commenting



Click Here for Main Page

Latest Posts

Sid Miller Having a Bad Day about Feral Hogs- Kaput Company Pulls Out (April 25 2017)
salon 4/25/2017

On Somervell County Court's Case Against Lonnie Walsh (April 24, 2017)
salon 4/25/2017

Ruminations of the Easily Amused for 4/25/2017
salon 4/25/2017

Trump's Hundred Days-What Has He Done? Not Much
salon 4/25/2017

Yet ANOTHER Court Ruling against Texas Lege Gerrymandering and Bigotry (April 2017)
salon 4/24/2017

Somervell County County-District Courtroom has some cool new A/V screens
salon 4/24/2017




Comments

salon > 4/3/2017-Update on the American Humanist Assoc vs Birdville ISD case. In March 2017 - A federal appeals court on Monday said a Texas school board may open its meetings with student-led prayers with.... (Religious News and Notes from the Distaff Side - 5/14/2016)

salon > Incidentally, nobody ran against Hankins, so sad to say there will be election this year.  (Updated for 2017Why I Will Not Vote for Ron Hankins, if he runs, to be on the Somervell County Hospital Board (prev 2015))

salon > Adding a great article from Texas Tribune "In courthouse turf war, Texas counties rally against statewide court records portal". The Texas Supreme Court, through its Office of Court Adm.... (Regarding Re:SearchTX and Somervell County (Glen Rose))

salon > I, owner of Somervell County Salon, have also received subpoenas to be deposed.  (Paul Harper deposed for 'Turks v. Somervell County Hospital District and Ray Reynolds' federal lawsuit)













Home | Blog Home | About | News | Piazza | Calendar | Audio/Video/Open Rec | Search
Write!  |profile | quotes |
top Daily | top Weekly |top Month | top Year | Top All! | archives | subscribe RSS