"When Texans suffered from the collapse of the oil market in the 1980s, they could rely on the fiscal union to help them. When Texas boomed with rising oil prices in the 2000s, it contributed to the union to help harder hit regions."
Austan Goolsbee is an American economist who served as chair of the Council of Economic Advisers and later became president of the Federal Reserve Bank of Chicago. He is known for work on public policy and economic analysis.