Is the Grass really Greener in TEXAS?




Over the last year or so there has been great criticism of California’s political climate and the public policy decisions made here. That criticism often points to Texas as the promised land because Texas seems more business friendly and it has continued to grow jobs while California and much of the nation has lost jobs.

At the same time, there has been an on-going attack on defined benefit pension plans by people advocating that 401K plans are the best, most affordable way to go. The argument is that defined benefit plans are in the long run unaffordable, and since most of them today are found in the public sector it is unfair to have public employees benefiting from a more secure retirement plan. And, besides, with a 401K model the working employee can manage his or her own money, and be responsible for his or her own retirement nest egg.

So, as we reach the middle of August, 2011, we read that Dallas, Texas, has had over 33 days in a row of temperatures above 100 degrees, some days reaching 110 or more. And, the world economy seems to be teetering on the brink of something bad, with our stock market having plummeted by, depending on when you start counting, 2,000 points or more on the Dow, wiping out roughly 20% of the market value.

A couple questions need to be asked at this point – how is that Texas lifestyle this summer? Are you packing to move? And, how are your 401K and your retirement plan doing?

About Over But Not Out

A retired Orange County employee, and moderate Republican. The editor seriously does not know OBNO's identity as did not the former editor, but his point of view is obviously interesting and valued.