Texas Deficit Estimate Comes In Worse Than The Worst Expectations

[Sgt Beavis]

http://www.businessinsider.com/texas-budget-shortfall-2011-1?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+clusterstock+%28ClusterStock%29

Bad news on the state of muni finances.

The Texas budget is expected to run a $27 billion two-year budget shortfall according to just-released state estimates.

That's worse than the $25 billion that Paul Krugman cited last week when he gleefully noted that a GOP bastion was facing deficit problems.

(Conservative pundit Kevin Williamson responded by saying that "insiders" were estimating a mere $11-$15 billion shortfall. Obviously those insiders were optimistic.)

In the first year, the state is expected to collect $72.2 billion versus expenditures of $87 billion.

Texas may still be in a better shape than states like Illinois, but this is a severe gap, and cuts to healthcare or education or higher taxes are coming.

[Denny]

Secede and drill!!!

LOL

[Gargamel]

That's worse than the $25 billion that Paul Krugman cited last week when he gleefully noted that a GOP bastion was facing deficit problems.

I fucking hate that smug piece of socialist crap Krugman.

Anyway, 10 to 1, Texas finds a way to settle its debt while Cali falls into more idiocy of its own making...

[Denny]

I fucking hate that smug piece of socialist crap Krugman.

Anyway, 10 to 1, Texas finds a way to settle its debt while Cali falls into more idiocy of its own making...

I'm waiting for the first state to default (and it will happen), then watch the domino effect kick in. THEN the Federal government WILL own the states.

[Denny]

http://www.zerohedge.com/article/newt-gingrich-pushing-bill-allow-states-file-bankruptcy-allowing-them-renege-pension-and-ben

[Broncojohnny]

What none of the leftists will admit to is that Texas has somewhere around $11 billion in a rainy day fund just for this occasion. It takes a 75% vote in the legislature to tap those funds if I recall correctly.

That fund would have never been built up in a state run by lefties, they would be too busy trying to buy votes.

[Denny]

What none of the leftists will admit to is that Texas has somewhere around $11 billion in a rainy day fund just for this occasion. It takes a 75% vote in the legislature to tap those funds if I recall correctly.

That fund would have never been built up in a state run by lefties, they would be too busy trying to buy votes.

67%

[Sgt Beavis]

I'm waiting for the first state to default (and it will happen), then watch the domino effect kick in. THEN the Federal government WILL own the states.

My money is on Illinois going first. It "appears" that Jerry Brown is actually proposing some really severe cuts for California's budget. Whereas Illinois is proposing a 75% "temporary" increase in state income taxes.

[Denny]

Those cuts are going to get Brown shot. Even though I agree with his approach, it's not what Californians want to hear (for the most part).

[Venom]

The district is already preparing us for the budget cuts. They are estimating that it will get cut by at least 5% which equates to about 20 million each year for the next 2 years. They are having to layoff teachers but they will keep the programs that support teenage mothers and free lunch.

[bcoop]

The State should come up with some absurd fucking surcharge program for people who get tickets, so they can essentially pay them twice. Pay the municipality, then pay the State for the same fucking violation. Oh, wait....

[The King]

Place a surcharge on those who have their little darlings actively enrolled in Texas public schoolos.

[bcoop]

Place a surcharge on those who have their little darlings actively enrolled in Texas public schoolos.

Or maybe they could tax those without kids, and those that don't use the public school system.


Oh, wait....

[Venom]

I have emailed the superintendent of my district with numerous ways to save money but I have yet to even hear back from him. If y'all knew all of the "chances" kids get to pass a class it would make your head spin.
For example last year they were proposing a schedule change from the block schedule to the 7 periods in each day. This was shot down because its and I quote " it doesn't give the students and opportunity to fail". Basically they were telling us that they weren't going change it because students would only have 2 opportunities to make up a failed class as opposed to the 8 that they have with the current system. Add that to the 1200 a day that they pay teachers to stay after school for the "credit recovery" lab and its a huge waste of money.

[The King]

Place a surcharge on those who have their little darlings actively enrolled in Texas public schoolos.

Or maybe they could tax those without kids, and those that don't use the public school system.


Oh, wait....

To think I posted something about schools and then misspelled that very word myself, lol. I need to go back to public school obviously....might as well since I help finance them.