Documents Reveal Deficit in Texas State Budget
Comptroller Susan Combs' quiet acknowledgment that Texas will show a $1.3 billion deficit at the end of the budget year contrasts with the happy face she's put on state finances leading up to the 2010 elections. The numbers are the worst since 2003, when the Legislature responded with $10 billion in spending cuts, and increased fees, tuition and other revenue sources to balance the budget. And the deficit gives ammunition to lawmakers who want to trim spending in 2011.
Publicly, the state's chief financial officer has said there's no reason to adjust income and spending estimates ...
Comments (16)
Michael Cosper via Texas Tribune on Facebook
I wont be showing up to vote for any candidate that does not tell me their priorities in state finance.
Jonathan Gal via Texas Tribune on Facebook
Looks like Mr. "We don't need America" Perry is finally getting a taste of the Humble Pie he deserves!
Jonathan Gal via Texas Tribune on Facebook
So, do we have any teeth on the balanced budget amendment? How about 3 years as Amazon Rain Forest Day Laborer for the Governor as punishment?!
Mac Mcclure via Texas Tribune on Facebook
Let's put the Democrats in charge. They have done such a good job on the national level with cutting spending and not going into debt. I am sure they would never think of raising taxes.
Michael Cosper via Texas Tribune on Facebook
Texas has plenty of room to raise funds through fees and taxation. The legislature screwed up in the last session and they knew it then. How we finance schools is going to have to be looked at again.
Robert Price via Texas Tribune on Facebook
We also need to have a constitutional convention and update it. There is to much micro managing in there. And how about of the Legislator meets every year. They spend 1 year governing and the next ear campaigning. How are they supposed to get anything done.
Mac Mcclure via Texas Tribune on Facebook
Michael, since you have so much free cash lying around will you pay my fees and taxes? Schools could save lots of money if they were run by competent people. The Superintendent of the FWISD makes $300,000 per year for WHAT??
Mac Mcclure via Texas Tribune on Facebook
Robert, Government is not the solution, Government is the problem. The less they meet the better off we are. Why do you think Texas is one of only 6 states that is not in financial trouble--The Texas Constitution limits what government can do.
Marc Lippincott via Texas Tribune on Facebook
Mac...the only reason there is a problem with government is because they outsource the financially viable stuff and keep all the stuff that is not profitable but benefits (or potentially benefits) everyone...if I outsourced all the profitable stuff, I couldn't run a business like that either...but crony capitalism is the problem, and it doesn't get better by further privatization...How many products were developed by the NASA tax dollars that are currently being earned, without license fee, by private corporations? How many drugs were developed through government grants? The problem is that the American People and taxpayers do not get equity or partnership interests (or even royalties) with those that suck the cash off the top and profit from it. We socialize losses through government, but privatize profits. Time to stop that trend.
And Texas is doing well because of the technology sectors (and an overflow of the insane energy prices, which is short term)...also, the land prices were cheap so no one in the middle class had to borrow $600k to buy a house in a safe neighborhood unlike many other states...has nothing to do with the low level of services the state offers...i would say our long term macroeconomics, look very poor...
Michael Cosper via Texas Tribune on Facebook
No Mac I wont pay yours because I am sure you have much more than me because I have worked for Texas wages all my life and don't have much. There is plenty of money in this state the government needs to go get it they have been cutting for a long time. If Texas is so well off why are we in a budget crunch, we spend less as a state than almost any state except maybe Alabama and Mississippi, not very good company.
Michael Cosper via Texas Tribune on Facebook
How it is done in Texas.
http://trailblazersblog.dallasnews.com/archives/2010/08/state-finances-kept-afloat-by.html
Jerry Chinagozi Okafor via Texas Tribune on Facebook
1.3 billion deficit "is not in trouble"? Only in the mind of a republican. I thought only democrats were all about spending? Every one now has an amnesia forgetting the spending and tax-cuts for the rich that republican started leading us from budget surplus to a deficit nationally. What a convenient mass amnesia!
Mac Mcclure via Texas Tribune on Facebook
Jerry, you seem to have amnesia that there is a 10 billion rainy day fund that has not been spent by the evil Republicans. Wonder what the Democrats in Michigan would do with 10 billion?
Mac Mcclure via Texas Tribune on Facebook
For Michael--Texas taxpayers receive less federal funding per dollar of federal taxes paid compared to the average state. Per dollar of Federal tax collected in 2005, Texas citizens received approximately $0.94 in the way of federal spending. This ranks the state 35th nationally and represents a slight decrease from 1995, when Texas received $0.95 per dollar of federal taxes paid (ranking them 37th nationally). Neighboring states and the amount of federal spending they received per dollar of federal taxation paid were as follows: New Mexico ($2.03), Oklahoma ($1.36), Arkansas ($1.41), and Louisiana ($1.78)
Jerry Chinagozi Okafor via Texas Tribune on Facebook
Oh yeah, as if Texas experience the job loss from auto industry as Michigan did. Please! Let's not forget the money Gov. Perry took from the feds to pay off Texas debts. They have 10 billion but went ahead and laid-off teachers who needs their job. Whatever man! Keep believing what you want. All I am saying is that republicans makes the biggest noise about deficits, forgetting their MAJOR role in it. I'm not trying to be get into a partisan debate with you.
Debra Medina via Texas Tribune on Facebook
And the governor shouldn't bear all the blame (much but not all) for this loss of economic freedom and economic crisis. Let's start holding the LEGISLATURE responsible. This is THEIR job and all house members are up for re-election in November! Press them hard to eliminate property tax, cut spending, cut regulations and give us a free economy. That's the only formula for true prosperity...(Oh, and secure the border already)!