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allot of the states, and the federal goverment still think that the money pot is still over flowing and try their best to hire more people for goverment. 1 day soon, they will finally realize that the honey pot is almost empty and start spending more money even though they wont have any more money left to spend.
Last edited by monkeywrenching; 02-15-2010 at 10:58 PM..
Reason: spelling
But you will see what Perry has done different than Obama. He has called for a 5% cut across the board by all state agncies.He also is letting them propose the cuts they think they can best make.Why;because the state has a balanced budget requiremet ;palin and simple.Otherwsie you would see alot more drastic cuts such as in california in these economictimes.
"The state has burned through its ready cash, though not a rainy day fund for emergencies, because a tax-swap bill passed in 2006 doesn't pay for property tax cuts. Compounding fiscal anxiety is Texas' use last year of federal stimulus money to avoid at least $6 billion of budget cuts. The federal largesse probably won't continue."
"Also, [Comptroller Combs] said, 'We believe that unemployment bottomed out in September.'"
"Combs said that while sales tax receipts are already almost $1 billion behind her projections, she continues to believe that consumer confidence will rebound in late spring as more Texans find jobs and the weather improves."
allot of the states, and the federal goverment still think that the money pot is still over flowing and try their best to hire more people for goverment. 1 day soon, they will finally realize that the honey pot is almost empty and start spending more money even though they wont have any more money left to spend.
Then, watch them fight each other over what's left. It'll be quite a show...
Then, watch them fight each other over what's left. It'll be quite a show...
it will be a fun day when that happens. I personally cannot wait for it to happen. hopefully sooner than later, and before they completely destroy the USA.
Most (maybe all) states are unlike the federal government in that the state budget must be balanced with no deficit spending. Many of them have been practicing some sleight of hand the last couple years by hitting reserve funds and moving money between categories (robbing Peter to pay Paul). Last year many states used stimulus money to balance the budget.
Well that's over now and the cuts/tax increases have to begin.
The problem is that when tax money is rolling in, like the run up in property tax receipts, everything becomes a "vital and needed" project. When funds contract, like now with assessmements and therefore property taxes, there is a problem with setting priorities on what to cut.
A situation may illustrate this: a couple years ago MD Gov. O'Malley called a special session of the Legislature to address cutting the budget by half a billion. When the dust settled that half billion had been cut but a billion and a half in new programs had been added, along with new taxes and fees which still didn't cover the new spending.
Last edited by North Beach Person; 02-16-2010 at 05:54 AM..
Reason: spelling
All you have to do is look at those heavy lib states to find out libs cannot run anything without overspending and pushing them into bankruptcy.
They are spenders, not savers.
They are a bunch of wasteful fools who love to spend other peoples money with no return on OUR investment.
Time to get rid of the spending and tax us to death loons.
3 years of them and one year with the fool in charge and look what they have done to us.
Since this thread is about Texas and the Texas state government has been controlled by the Republican's for the past few years, I'm assuming that those "libs" you blame are Republican's....right?
Well... it really didn't happen just over the course of a single year. It's just that the state budget cycle made it appear that way. The 2008 budget was approved in an atmosphere where the revenues were mainly from activities that took place in 2008 and 2007.
The recession was already biting down by 2008, even in Texas, but that would not become fully apparent until the following couple of years.
I guess there was a bit of overconfidence based on the 2008 budget, but that budget was based on a fleeting economic environment. Cuts were going to have to come down regardless.
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