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What would happen if there was 13% unemployment in one part of the country and much less in Texas? If the economy was left alone, so it could solve the problem by itself, the extra (unemployed) manpower would move to Texas (or try to create jobs in their own state) instead of waiting for government to subsidize the unemployed. Subsidizing individuals for too long of a time is probably not a better idea than subsidizing businesses for too long of a time.
Toggle Commented Apr 20, 2009 on Municipals Downgraded at The Market Perspective