Checking the Forecast: A Look Back at the Texas 2000 Project

Checking the Forecast: A Look Back at the Texas 2000 Project
Authors/editors: Olson, Jerry
Type: journal
Publisher: Bureau of Business Research, The University of Texas at Austin
Series: Texas Business Review
Date: 2000-08
Full text: http://hdl.handle.net/2152/15189

Description

In the late 1970s, Texas experienced a remarkable spurt of migration-induced population growth. One of the main reasons for the surge in migration was the much-touted Texas business climate. This part of the Sun Belt was awash in energy and capital: oil prices had tripled. In those days, we considered ourselves the "economic flagship for the nation." The most difficult problem was what to do with the billion-dollar budget surplus caused by the unexpected rise in tax revenues due to the increase in oil prices.

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