But experts say Houston won’t become Detroit
With the economy showing slower growth than the Obama Administration had hoped for, the President will kick off a new campaign tomorrow in Illinois that will outline his economic plan for the future.
That campaign will include stops in Missouri and Florida.
This comes after indicators showed slower growth than what was anticipated during the second quarter of 2013. Retail sales grew by just .4% in June, and that was largely due to higher gas prices.
Sales at restaurants were down as well, which suggest that you are cutting back on your discretionary spending.
And the news of this latest Obama campaign comes less than a week after the city of Detroit filed for bankruptcy. Could the same thing happen here in Houston?
Patrick Jankowski of the Greater Houston Partnership told KTRH you should not be concerned.
“Houston is better off than Detroit is. Our core industries are much stronger. Many of Detroit’s automobile manufactures moved out of the Detroit metropolitan area and into the suburbs,” he said.
Jankowski says Texas is more business friendly than most other states.
“We tend to be very open to business. I think we’re okay in Houston. I think we’re okay on Texas,” Jankowski explained.