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The main issue is that Texas does it budget every 2 years, so they were able to pretend as if things weren't so bad over the last 2 years, now they have to eat a reality sandwich.
Its going to be funny watching Texas try to balance their budgets without raising taxes, I guess they can close the public schools?
Schadenfreude from the land of the earthquake? Tell me no! Yes Governor Perry is a big talker, I agree. However, the state legislature already has a solid plan to eliminate the deficit and they haven't even begun to take office. Can CA claim such a plan?
Basically texas has had a balnaced budget. Now they like many states are facing a shortfall. I see no plan to borrow like so many states have done for years tho.When you find you casn get fiancing as california did thsi year its even worse really.
Go Texas, show those fiscally irresponsible Liberals how to manage finances!
Texas is not in good shape, but the fact remains that the 5 states in the worst shape are all liberal:
"The five states in the worst financial condition--Illinois, New York, Connecticut, California and New Jersey--are all among the bluest of blue states."
Bluest states also most in debt, highly unionized and solidly Democrat (But that's all coincidental, right?) | Mark Tapscott | Beltway Confidential | Washington Examiner (http://washingtonexaminer.com/blogs/beltway-confidential/bluest-states-also-most-debt-highly-unionized-and-solidly-democrat-that039#ixzz1BWX5hj2G - broken link)
Edit: Someone is going to bring up this is a year old article. Regardless, I can say for a fact that Illinois, California and New Jersey are still at the top of the list today.
Yeah, let's cut services to the poor and education all the while keeping the "rainy day" fund. What is the point of a "rainy day" fund if not for these circumstances?
I am not keen on the education cuts but Texas seems to be getting down to business fast. I would bet most of the other states get mired in a lot of talk and not much action. Not to mention huge tax hikes.
I'm sure Boeing now wishes they had moved to Dallas over Chicago.
Yeah, let's cut services to the poor and education all the while keeping the "rainy day" fund. What is the point of a "rainy day" fund if not for these circumstances?
It depends on what you think a rainy day is.
What if next year is worse ?
Texas can well afford to trim. This is the first year education is on the table for cuts.
There's a lot that can be done before teachers are layed off.
There's talk of consolidation of job functions at the district level, sharing of job functions among districts, etc.
At least there is no talk in Texas of using funny money IOU's or try to borrow. Also remember there is over $800m in Fed education money that Texas cannot get thanks to a Texas law maker. Remember that "Texas Amendment" authored by Lloyd Doggett ? Now he's all over the local news defending his move even though what he proposes is against the Texas constitution.
Jobs will be eliminated but that's part of cutting the budget.
If revenue is down then spending has to come down.
Basically texas has had a balnaced budget. Now they like many states are facing a shortfall. I see no plan to borrow like so many states have done for years tho.When you find you casn get fiancing as california did thsi year its even worse really.
Texas has balanced its budget much the same way other states have, namely with debt. If you think Texas hasn't been borrowing and doesn't plan to borrow more you're sadly mistaken. Texas has around $35 billion in outstanding debt and will be adding plenty more.
Schadenfreude from the land of the earthquake? Tell me no! Yes Governor Perry is a big talker, I agree. However, the state legislature already has a solid plan to eliminate the deficit and they haven't even begun to take office. Can CA claim such a plan?
The legislature is just yapping, you'll find the California legislature do the same thing.
In terms of California, the legislator has already raised taxes and made big spending cuts to deal with the budget. There is "talk" of more cuts, extending the tax increases, etc. So yes, California can claim the same.
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