This could be a balloon, but the fact that jets came up to investigate strongly suggests otherwise. The US Air Force often investigates UFO activity, as was proven when MUFON investigators obtained documents about USAF activities over Stephenville, Texas during the UFO flap that took place there in 2008. The Air Force had denied its interest in the objects.
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http://www.williamsondailynews.com/view/full_story/20524736/article-UFO-spotted-over-Williamson-area-Tuesday?instance=popular Dreamland Video podcast
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