In California, they have constantly over-spent and over-taxed and over-borrowed, budget after budget, year after year. They had maxed out their credit cards, overdrew the banks, borrowed from neighbors and pawned off silverware. Spend, spend, spend. Borrow-borrow-borrow.
As a result, California has been exporting jobs -- mainly to Texas, thank you very much.
Texas' budget situation is completely different. Texas budget has not overspent revenues. What people are talking about right now, going into the 2011 legislative session, is a projected difference between what some want to spend, and the possible revenues others think will be available. There is no deficit in Texas, because there is no 2012-13 budget. It has not yet even been written.
That they fail to understand the difference says a lot about the economic illiteracy gripping the blathering left. Thank goodness they are losing.
Well said...
There is not a deficit... there is a projection of a two year short fall based on spending trends that people want to see and revenue trends others are putting out there by pulling them out of thin air as Rick has put it in the past.
Could there be a 20 billion dollar or more "shortfall" yes of course there could be... but you know what... we don't know what it will be yet... but when Rick "cuts" spending... meaning in reality that he doesn't raise it... and Texas doesn't fall into the ocean and Texas ends up without a "deficit" for any year of his tenure whatsoever... he will look like a genius even though really it is just part of the Texas system to require a balanced budget...
All the hyperbole now about the enormous "deficit" does is play right into Rick's national credentials by the middle of 2011 when the short fall is solved...
You know there will be people clamoring for Rick to run for president if he closes this shortfall without tax hikes... peeps will say wait a minute a governor who cut spending... wow... just what we need in Washington... and I still think Rick will turn those calls down as I have written about extensively in a few blogs here.
Others will write editorials about how Texas simply can't cut any more from our already bare bones budget and how the poor and children will be put out into the street begging and how it will ruin our schools and make businesses go to other states... but you know what... in the long term and even the short term people will look and see that Texas and our balanced budget amendment is how you do it... and Texas will continue to buck the trends...
Perry is right about the newspaper editorial boards: they're a WASTE of time.
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