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Old 04-03-2013, 08:54 AM
 
19,793 posts, read 18,079,394 times
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Quote:
Originally Posted by Cronous81 View Post
Yes and that is within the same fiscal year (all these deficits are projections for the current fiscal year). Texas must make up for the deficit by the end of the fiscal year just like CA or NY by raising taxes, cutting spending, or borrowing from creditors.
Deficit does not equal shortfall - that's what really matters.

 
Old 04-03-2013, 09:18 AM
 
Location: Prosper, TX
75 posts, read 116,167 times
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Quote:
Originally Posted by EDS_ View Post
Deficit does not equal shortfall - that's what really matters.
In economics, a deficit by definition is a shortfall in revenue. The terms are not distinct. See synonyms for deficit.

Deficit Synonyms, Deficit Antonyms | Thesaurus.com
 
Old 04-03-2013, 10:05 AM
 
19,793 posts, read 18,079,394 times
Reputation: 17279
Quote:
Originally Posted by Cronous81 View Post
In economics, a deficit by definition is a shortfall in revenue. The terms are not distinct. See synonyms for deficit.

Deficit Synonyms, Deficit Antonyms | Thesaurus.com
1. I have an MS in econ.
2. In the context we are talking about (macro-economics/state budgets etc.) a deficit is a shortfall that remains unfunded and somehow financed into the future.



ETA - anyway, if you tell me where you live now I can give you some concrete numbers as to whether or not the aggregate tax burden is lower here in Texas or not.
 
Old 04-03-2013, 10:14 AM
 
Location: Mostly in my head
19,855 posts, read 65,829,411 times
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Thread has devolved into semantics between 2 posters, no longer useful, closed.
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