Obama policies copy moribund California, not Texas

(Investors Business Daily) Anyone who thinks that President Obama’s economic policies will spur strong growth should consider U-Haul rates between California and Texas.

Renting a 20-foot truck one-way from San Francisco to San Antonio, for example, will cost $1,693. But the U-Haul tab to go in the opposite direction is just $983.

To University of Michigan economist Mark Perry, who has tracked this “U-Haul Index,” the difference in these rental rates is the result of straightforward supply and demand.

Put simply, far more people want to leave California for Texas than vice versa.