Hammond: No Time to Be Penny-Wise, Pound-Foolish

There’s something to be said for leaders in the Texas Legislature sticking to their guns and releasing a state budget that keeps spending within existing revenues.

To my friends in the House and Senate, I say: We must continue to fight to ensure that we implement cost-saving reforms that reflect Texas' commitment to economic growth. But our current budget shortfall isn't a time to be penny-wise and pound-foolish.

The state will have $72.2 billion available for general-purpose spending during the 2012-13 biennium, leaving a $15 billion gap from the current general revenue spending of $87 billion. How ...

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