Texas' finances not as rosy as they seemed

[Trajan]

Source: Los Angeles Times

Reporting from Austin, Texas —

The lecturing from Texas leaders about how California wouldn't be in such a budget mess if its politicians did business the way it is done in Austin has been relentless for years.

Texas Gov. Rick Perry delights in telling tales of his California "hunting trips" — hunting for businesses ready to flee the Golden State.

But the latest budget projections out of Texas have sharply changed the discussion: The Lone Star State is facing a budget gap of about $27 billion, putting it in the same league as California among states facing financial meltdowns. The gap amounts to roughly one-third of the state's budget.

In a place where government is already lean, there aren't many areas to make up that kind of cash. The budget blueprint Texas' Legislature is mulling would mean layoffs for tens of thousands of teachers, closure of community colleges, and a severe reduction in state services for the poor and those with mental health problems.

~snip~


Read more: http://www.latimes.com/news/local/la-me-texas-budget-20110207,0,4154023.story

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I am rarely amazed at the misleading nonsense coming from Texas conservatives - From textbooks to 'creation science' ....

But I am of two minds when it comes to their economic bungling .... The proudest purveyors of market-based 'business oriented' ANTI-tax, LOW wage, NO safety net economics have driven Texas, or whatever remained of a once great state, into the fucking ditch ....

Sounds familiar, don't it ? .... Hmmmm ... Who could that asshole from Texas that once did the same thing to a mighty nation be ????

I am of two minds, because good people in Texas will be hurt .... and the self righteous, most UNright rightists couldn't care less ....


(I am surprised this has not yet been posted in LBN - at least I could not find it ...)

[BlueJazz]

1. I know I sound like a broken record but I have to say it again:

Until this nation starts taxing the people that have the money, we will always be in deep debt.
The poor and shrinking middle class just don't have the Big Dough.

[Trajan]

2. Not only that ...

The 'stimulus' that has been absent is the wages that have been suppressed ....

Without wages that are commensurate with prices; sales have dropped ? ... Gee, I can't understand how that happened .....

GOOD wages = GOOD economy .... The greedy fucks are cutting their own throats ...

[tularetom]

3. Yep, it's like the famous Willie Sutton quote

When somebody asked him why he robbed banks he replied "That's where the money is".

Why should we tax the rich? Duh, they're the ones with the money.

[Kip Humphrey]

4. When GW rid Texas of its income tax, it was just a matter of time for the state's surplus

to turn into the deficit Texas has today.

[caveat_imperator]

7. I don't think Texas has ever had a state income tax.

[rasputin1952]

14. That's one reason why they are in the turmoil they are in now...

there are few ways to raise cash except for the Fed subsidies that come w/just about everything TX is involved with.

The idea of "personal responsibility" is a great mantra... but god forbid that anyone be so realistic as to practice it when it comes to taxation.

[timo]

10. FAIL

does not have one. I am no Bush supporter but that was a box of fail right there!!

Texas – no individual income tax or corporate income tax. In May 2007, the legislature replaced the franchise tax with a gross margins tax on businesses (sole proprietorships and some partnerships were automatically exempt; corporations with receipts below a certain level were also exempt), which was amended in 2009 to increase the exemption level. The Texas Constitution places severe restrictions on passage of a individual income tax and use of its proceeds.

[Trajan]

20. And hence the result indicated in this story ...

We apparently have two sides on this issue: Those who agree with those policies, and those who do not ...

I do not ....

Nuff said ...

[Beartracks]

5. Why do they always cut the "training budget" first?

Just like a corporation cuts training when things get tough.

----------------------

[quakerboy]

6. On the plus side of things

The right is doing a great job of ensuring following generations will never be as educated or qualified than those currently existing. Woo hoo job security. Assuming the future holds any need of qualified or educated people.

[callous taoboy]

8. I say that there is room to cut here in my state of Texas:

I teach in a small school district near Austin. Our district is extremely top heavy at central office. Two superintendents, one of whom brags at parties about having the cushiest job while earning way more than myself, a classroom teacher. We also have a curriculum director that not only does not help us much, but is an ego maniacal nut job who WILL NOT solicit input from teachers and who, in fact, seems to disdain us.

I say bring out the weed whacker in this case.

[CBHagman]

11. Will they do it, though?

What's your sense about that? Will they get practical, or is ideology driving things?

[callous taoboy]

17. It's going to come down to the need for having a warm body in each classroom

over too many high-paid do-nothings at C.O. I think things are about to get extremely practical again, and I, for one, will be relieved to see that "reform" happen in education.

[wilt the stilt]

9. The south's idea of business

is to go to other states and "steal" their businesses. It does nothing for the country only for themselves. Chris Christie this includes you.

[Ian David]

15. See also: Chartermongering.

http://books.google.com/books?id=zAmgOl5YT2QC&pg=PA128&lpg=PA128&dq=chartermongering&source=bl&ots=22-8BeAEJc&sig=DegLmzcKptXEN2DNcoBw2LAy6eU&hl=en&ei=MUpRTfSCJ8Gblgf967yUCg&sa=X&oi=book_result&ct=result&resnum=7&ved=0CE0Q6AEwBg#v=onepage&q=chartermongering&f=false

[Joanne98]

12. They could close some of their massive prisons!

[rasputin1952]

13. TX is heavily dependent upon Federal Funding...

I would figure that with the Army, Navy and AF alone would account for at least a quarter of it's income. Tack on oil subsidies, DEA money, Border Security, NASA, Ag subsidies, SS and Medicare/Medicaid money, about 90% of their budget is dependent upon the Feds...and that's just off the top of my head, w/o even digging. The list could go on for pages.

Truth is, if the GOP really got what they are clamoring for, the nation would be huge dust bowl. It's all about the sudden wall that they ran into, the one called reality. The wall that cannot be scaled w/o reason and thought, the cost being spread out, the reality is that there must be sacrifices made if there is to be a recovery. But they will not go that route, the illusion that they have spread is crashing in on them, forcing them even further to the Right...hopefully to the point to where they just fall off the edge and cast into the hell they are trying to create.

[Trajan]

21. So true ....

Reminds me of Ross Perots company - EDS, which made a bundle producing machines that printed Welfare Checks ....

[Javaman]

16. Wow, so surprising. you mean cement head perry is/was full of shit?

hard to believe.

Hard times ahead my fellow Texans, very hard times.

I'm so glad that fucking halfwit 10th amendment screeching asshole won the governorship again, because after this colossal fuck up, he won't be able to run for dog catcher.

He is probably one of the most stupid people on the face of the earth.

[nyy1998]

18. Sigh, this is what happens when we can't elect a decent governor to this state nt

[DainBramaged]

19. And the poor shall eat dirt while the rich, steak

fucking Pukes.