Texas deficit more than twice than what was originally thought

[Landslide Lyndon]

Perhaps this is the reason why Carl hasn't posted the last days. So much for his sermons about how the liberal states should take lessons from Texas's economic policies.

http://wonkroom.thinkprogress.org/2011/01/10/perry-lecturer-in-chief/

Back in September, Gov. Rick Perry (R-TX) guessed that his state was facing a $10-11 billion budget shortfall for its fiscal 2012-2013 budget, and refused to entertain reports that his budget gap might be larger until he received the state Comptroller’s official report. He even poo-pooed pronouncements from his 2010 election opponent, Houston Mayor Bill White, that Texas’ deficit may be twice what he was estimating. “If White wants to be the budget forecaster for the state of Texas, that’s a different job,” Perry said. “It’s called the comptroller.”

Well, the Comptroller released its report today, and Perry was on the wrong end of this one:

   Texas is expected to collect $72.2 billion in taxes, fees and other general revenue during the 2012-13 budget, down from the $87 billion used in the current two-year budget, Comptroller Susan Combs announced Monday. That puts the shortfall at $27 billion given that maintaining services would run $99 billion for biennium.
...

[Lief 🗽]

This would be hilarious, if not for the tragic fact that our teabagger governor and legislatures will likely fix this problem by killing poor people and selling off roads.

[Lief 🗽]

Sorry; cutting services to the poor that will eventually result in their deaths.

[opebo]

Sorry; cutting services to the poor that will eventually result in their deaths.

Yes, we must be careful. 

[Grumpier Than Uncle Joe]

Sorry; cutting services to the poor that will eventually result in their deaths.

Yes, we must be careful. 

Whew.......safety first.

[CatoMinor]

This would be hilarious, if not for the tragic fact that our teabagger governor and legislatures will likely fix this problem by killing poor people and selling off roads.

Dude, thats insulting to the tea party. They at least tried to oust him, so don't use that as a blanket term for any Republican you don't like.

[DrScholl]

Republican trifecta, so at least they can't blame Democrats for this, but I wouldn't be surprised if they did, it is Texas.

[Sam Spade]

yawn - these things have happened in the past (it was much worse in the oil bust in the 1980s) and will happen again.  Budget has to be balanced by Constitution, so with Republicans in control there will be cuts and more cuts and some fees.

[○∙◄☻¥tπ[╪AV┼cVê└]

Maybe those stupid Texas is so much better off than California because they're not liberal articles can stop now.

[King]

I think they should cut taxes some more to starve the beast. As you all know, starving a person is the best way to get them to want to eat less.

[Frink]

Makes sense- even if they spend significantly less their tax receipts are comparatively smaller and will take a hit regardless.

[cinyc]

Texas starts its budget process from scratch every two years.  Texas will do zero-baseline budgets, matching government spending to expected tax revenue.  Quite a radical concept, I know.   The budget will be balanced.    And there will be cuts, when (arguably, wrongly) measured against what the prior legislature appropriated.   No Texas legislature can bind its successors.  Again, quite a radical concept, I know.

[phk]

Their swap spreads are probably still lower than Illinois's and California's.

[Landslide Lyndon]

Their swap spreads are probably still lower than Illinois's and California's.

That doesn't make Pery any less of a hypocrite.

[exopolitician]

Idiot. How this man keeps getting elected back into office is beyond me.

[pazmo]

Idiot. How this man keeps getting elected back into office is beyond me.

Oh easy:

2002: Moderately strong Republican year against a non-credible challenger.

2006: Perry opposition was split between three crazy people.

2010: Hyper strong Republican year, in Republican state and was facing an overhyper candidate.

[Landslide Lyndon]

Chris Bell is considered "crazy"?

[exopolitician]

I honestly thought Bill White had a decent chance this time around. Obviously I was wrong, I just think the Texan electorate is just lazy. They see an R next to the candidates name, they have an automatic advantage.

[Grumpier Than Uncle Joe]

Idiot. How this man keeps getting elected back into office is beyond me.

Pro-gun, pro death penalty, anti-FEDeral Gummit.

Got it now, Matt? 

[exopolitician]

Idiot. How this man keeps getting elected back into office is beyond me.

Pro-gun, pro death penalty, anti-FEDeral Gummit.

Got it now, Matt?  

Unfortunately so.

[ag]

Again, quite a radical concept, I know.

Actually, that's the Mexican way of doing things. They should still have been part of Coahuila y Tejas ))