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Texans could be 'hardest hit': The state could lose 370,000 jobs and $47 billion a year in GDP because of Trump's tariffs

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While the short-term impact isn't good, the long-term consequences may be even worse. The Perryman Group estimates that Texas is going to lose around 370,000 jobs annually as a result of the tariffs, and around $46 or $47 billion in gross domestic product (GDP).
The article from AOL Finance discusses the potential economic impacts of a U.S. debt default, focusing on how Texas could be one of the hardest-hit states. It highlights that Texas, with its significant military presence, could face severe consequences due to potential delays or cuts in military paychecks if the government defaults on its debt. The state's economy, which benefits from federal spending, particularly in defense, would suffer as military personnel and civilian employees might not receive their salaries on time. Additionally, the article mentions that Texas has the highest number of federal workers, exacerbating the economic fallout. The piece also touches on the broader implications, such as increased borrowing costs, a potential drop in the stock market, and a possible recession, all of which would further strain Texas's economy.

Read the Full AOL Article at:
[ https://www.aol.com/finance/texans-could-hardest-hit-state-103100635.html ]