In Texas, a Businesslike Budget, After a Fashion

When Texas lawmakers said they wanted to run government like a business, they left out the part about using Enron and Countrywide as their models.

Starting with a $4.3 billion deficit in the current budget and a $27 billion shortfall in the next budget, Texas lawmakers began by saying they would take care of their financial problems without raising taxes and without tapping the Rainy Day Fund, the state’s $9.7 billion savings account.

In a state where legislators are constitutionally required to balance the budget, you might think that leaves only budget cuts as a way out, and ...

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