The Houston Chronicle (CFED)
By: Chris Tomlinson
February 5, 2012
Texans politicians (and our local Assemblymember, Dan Logue) like to tout the state’s economic growth, but more and more Texans are finding themselves teetering on the edge of poverty.
… a study by the Corporation for Enterprise Development has found that 27.7 percent of Texas households have no financial cushion in case of an emergency. If you exclude homes and automobiles from the calculation, a full 50 percent of Texans have no assets they could use to survive if they suddenly lost their income.
The findings match up with the latest U.S. Census data on Texas, which found that 17.9 percent of Texans — or 4.4 million people — live below the poverty line. That’s 2.6 percent higher than the national average and ranks Texas 40th in the nation. When compared to the rest of the country, Texas ranks 41st in financial security. Is Texas really a good model for California as we go forward out of the latest recession?