State Budget Picture Not as Rosy as It May Seem
*Correction appended
The state’s economy is booming, relatively speaking. Tax revenue is far higher than the comptroller had predicted. The Rainy Day Fund has so much money that it might hit a cap. Hardly anybody even knew that particular savings account had a limit, and why would they — why would the state ever hoard $9 billion or $10 billion?
But the state’s financial outlook isn’t as rosy as it appears to be, particularly if state lawmakers want things to run the way they run now.
It’s the central problem of state government in Texas: Lawmakers here ...
Comments (9)
Corbin Black via Texas Tribune on Facebook
If only someone would say the truth we are broke
Aldo Merino via Texas Tribune on Facebook
If that were the truth, someone might say it. But, alas, we're not broke.
Corbin Black via Texas Tribune on Facebook
Just politicians lining their pockets.
Jim Hsu via Texas Tribune on Facebook
Not broke....chiefly because of the federal bailouts and subsidies.
Debbie Spencer via Texas Tribune on Facebook
If only they would look at the salary structure, money leaks, and corruption we'd all be sitting in high cotton.
TrueTexas
Just expand the sales tax to all goods and services except food!
Debby Valdez
The state isn't broke- there is 9 billion in the rainy day fund, who is that for?
David Spratt
Happy days are here again.. Take the fences down and let everyone come back to the trough. Now we can put another couple of million people onto medicaid,,, expand food stamps,,,, give the teachers a couple of billion,,,,, fix some roads and build some more.. we could give PP some millions, abortions are declining since funding has been cut,,,, maybe give all Government workers a 10% raise,,,,,maybe we could follow CA 's shining example and spend some billions on high speed rail?
Since the draconian cuts of the last legislature dead and dying people in the streets is becoming a problem. Takes me an extra 20 min to get to work just dodging around them all.
GOT TO FIND SOMEWHERE TO SPEND THIS MONEY ,, IT CAN'T JUST SIT THERE AND DO NOTHING. A LOT OF PEOPLE SALIVATING OVER THIS SAVINGS ACCT.
Eva DeLuna Castro
Ross,
Legislators did indeed use an almost $5 billion Medicaid "IOU" to help balance the 12-13 budget. But they did that IN ADDITION TO cutting the program and lowering what they pay to providers -- not "instead of." The LBB's official tally of Medicaid cuts: Over half a billion state dollars in rate reductions (which also cost TX almost $800 m in federal Medicaid funds); $300 million saved by cuts to Medicare/Medicaid "dual eligibles"; $45 m from cutting optional benefits; $35 m from cutting dispensing fees for pharmacists, and various other cuts. See page 158 of the 2012-13 Fiscal Size Up.