11/24/2005: "Taking Stock During the Thanksgiving Season"
Each year at this time, Americans gather with families and friends in a spirit of thankfulness for the things that have enriched their lives. For some it involves material matters; for others it’s on a more personal or spiritual level.
Regardless of the circumstances, and they vary greatly with each individual, the Thanksgiving holidays give all of us a special opportunity to reflect upon the past year and to evaluate how we have been affected by what life has wrought.
The practice of a formal Thanksgiving Day, of course, started with the Pilgrims in 1621, though not exactly in the romanticized version we often see reenacted in school plays. And for the Pilgrims, Thanksgiving celebrations certainly were not annual events. Still, Thanksgiving is high on the list of our nation’s most cherished holidays, and it tops all other occasions that focus on being thankful.
Ironically, Thanksgiving became a national holiday in 1863 during the Civil War when many people had very little for which to be thankful. Even so, Lincoln’s Thanksgiving proclamation noted that in the midst of such a struggle there were many aspects of the US economy that were positive and were continuing to grow.
In 1939, when President Roosevelt set the date for Thanksgiving as the fourth Thursday in November (approved by Congress in 1941), the nation was attempting to recover from the Great Depression, a period of despondency that had enveloped the globe.
In times of despair when we are confronted with matters that seem insurmountable or uncontrollable, developing an optimistic view can be challenging. Although it may be hard in some circumstances, this approach can often be accomplished by thoroughly examining one’s situation and evaluating the good against the bad. When we take the time to count our “blessings,” the full picture usually becomes clearer, and the situation becomes more accurately portrayed.
Within recent months, Texas and our nation have faced many difficult circumstances—from the war in the Middle East with its escalating number of causalities to the unprecedented natural disasters which caused massive destruction and displacement of families. Even though not all of us were personally or directly affected by these events, practically everyone’s life has been impacted to some degree, at least from an economic standpoint.
We are constantly bombarded by the media with information about such things as the rising budget and trade deficits, growing healthcare costs and the number of uninsured, increases in white collar jobs being outsourced, potential inflation expansion, and gasoline and natural gas price hikes, along with much more gloom and doom.
To hear some tell the story, we are moving rapidly toward the edge of the earth, and the danger of falling off is coming nearer with each rising sun.
While it’s true that we have experienced something of an economic roller coaster in recent years, and although times will continue to be challenging, I am confident that our nation, and particularly the Lone Star State, is capable of meeting the trials we face and that momentum for moderate future economic expansion is continuing to grow.
At this time of the year, as we pause to consider that for which we can be thankful, in addition to remembering the love of our friends and families, let us not forget some other important areas such as the number of workers being added in most industries and the general increase in productivity. Until the last few months, Texas employment growth percentage lagged behind the US; now our state’s job expansion exceeds the nation.
Manufacturing in Texas has rebounded and over the past year; some 40% of manufacturing relocations have been in our state, thanks in great part to the Texas Enterprise Fund. Marvelous things are also being accomplished in high tech and emerging technologies. Texas remains the nation’s leading exporter, with the gap widening over second place California. Even gasoline prices are dropping. There are many more areas that could be mentioned, but space limits the listing of all the blessings we enjoy in Texas.
Naturally, not everything is rosy. There is still much work to be done, and we must remain vigilant in our pursuits to enhance our economy. But, during this season of the year, it would be helpful to take stock and consider the positives we are experiencing in our economy. If you do, it might make an optimist of you and enable you to join me in being positive about the expectations and possibilities for the future of Texas and our nation.