Texas - what the hell - huge budget crisis

Discussion in 'Economics' started by Covertibility, Mar 17, 2011.

  1. From that durn liberal rag - Texas Economic Miracle Beginning To Tarnish

    The severity of the state's $27 billion budget crisis was evident in the furrowed brows, sad eyes and pained expressions of legislators. They fidgeted in their seats as hundreds of teachers, parents and disabled people explained in testimony in recent weeks how proposed budget cuts would ruin their lives.

    Legislatures elsewhere are facing budget problems, but most are blending cuts with asset sales, increased fees and tax modifications to soften the impact. Texas prides itself on lean government so Republicans here promised to solve the crisis here by budget cuts alone.

    Even though Texas' budget shortfall is among the worst in the nation, Perry says Texas remains an example for other states.


    No housing bubble, no financial firms going under, no nucular reactors tsunami'd, etc...

    So who can explain this?
  2. Got to look at their banlance sheet. Tax revenue shortfall due to economic slowdown is one obvious reason
  3. Mexican immigrants ruin every state they go

    First CA now TX

    ever mexican immigrant have several kids, evade taxes as much as possible, hook up in welfare, foodstamps and any other free handout atthe expense of americans.

    Someone needs to kick them out. Period. We can't keep feeding foreigners while we're having huge deficits both in states' and federal budgets. It is going worse everyday.

    I can see illegal immigrants everywhere I go in TX. I am sure it is the same in CA.
  4. but i thought it was the liberals that caused high budget deficits in california? in 2000 republicans convinced america that if only republicans ran america then our economic problems would be solved.the voters gave them all 3 branches of government and the republicans promptly ran the economy into the ground.
    last election they convinced voters that if only republicans ran congress out debt problems would be solved. they put forward republican texas as a model of their ideal state. now texas has a worse budget problem than california,the republican poster child for mismanagement.
  5. So who can explain this:


    I can. I have lived in Texas for about 5 years or so.

    First, there was a bubble in the RE market. You have to know your region. I bought two lofts, both 3500 sq feet. One is downtown SA near the River Walk, the other is Downtown Atx on 2nd st.

    My SA loft has appreciated a little but my ATX loft is up almost 20% in two years. Look at "RE" for sale in DownTown Austin. Most of it is starting at 350k for 900 sq feet up to 1.1 for 2400 sq ft. It's over priced and it will crash.

    Bottom line, if you live in Texas and are W2 your not making much compared to the same job elsewhere. Thus, many need assistance. Look at the % of working middle class on Food Stamps.

    Second, there is no state tax. Good for me but bad for the State.

    Third, the overpopulation of Mexican immigrants, both Illegal and legal. They have extended families, 17 year olds having kids, no job, low education..etc. Who do you think pays for this?

    Bottom line, Living in Texas is great if you have money. Otherwise, it is like the rest of the country. The "Depression" orGreat Recession that has been declared over, lol, is now hitting Texas harder. There is a lag time of about 2 years and that is now coming to an end.
  6. Wow, sounds JUST like California, minus the Governator of course
  7. Every statistic that has Texas doing poorly needs to be analysed for the impact of the large, poorly performing Hispanic population.

    For example, Texas education is near the bottom because the large Hispanic population does very poorly (as they do in other states). The whites in Texas are doing just fine.

    The underlying fact libs do not want us to know is that state performance has more to do with who lives there (and importantly who is in charge) rather than all the blather they talk about (lack of school funding, etc).
  8. clacy


    There might be a SLIGHT difference in state income tax rates in these two states!!!!
  9. drcha


    This has nothing to do with Mexicans. There are plenty of immigrants from other countries doing this same thing. I have taken care of thousands of people on public aid/insurance, and believe me, they come from all ethnic categories. Also, there are plenty of Americans doing this, too: where did you want to send them?
  10. Tsing Tao

    Tsing Tao

    #10     Mar 17, 2011