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Perry says S&P downgrade of U.S. validates his approach | Texas Politics | a blog

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Perry says S&P downgrade of U.S. validates his approach

Sounding increasingly like a candidate for national office, Gov. Rick Perry told the National Conference of State Legislatures meeting in San Antonio this morning that Standard & Poor’s recent downgrade of United States investments validated his administration’s frugal approach to government.

The rating agency’s action came because of “a reckless culture” of out of control spending in Washington D.C. “piled on our next generation’s credit card,” Perry said. Referring often to the “economic turbulence” buffeting the country, he declared that the U.S. was experiencing “one of our darkest hours.”

“You can’t tax and spend your way to prosperity,” he said, hitting hard on the theme of his 2010 book, “Fed Up!”

In his most descriptive and passionate moment in the 20-minute talk, Perry noted that Texas has created 40 percent of the nation’s net new jobs, though it is home to only eight percent of the U.S. population. Job loss, he said, creates many social ills including “an entire generation losing faith in the American dream.”

Perry, who committed to speak to the group of about 1,300 legislators and their staff long before he began considering a presidential campaign, earned a standing ovation and moderate enthusiasm from the bipartisan crowd.

via Perry says S&P downgrade of U.S. validates his approach | Texas Politics | a blog.

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