Despite Perry’s Tough Budget Talk, Texas’ Debt Growing Faster Than The Nation’s

Discussion in 'Politics' started by appleannie1, Aug 15, 2011.

  1. appleannie1
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    appleannie1 Member

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    From 2001 to 2010, state debt alone grew from $13.4 billion to $37.8 billion, according to the Texas Bond Review Board. That’s an increase of 281 percent. Over the same time, the national debt rose almost 234 percent.

    Despite Perry’s Tough Budget Talk, Texas’ Debt Growing Faster Than The Nation’s | ThinkProgress

    For all the controversy over the national debt ceiling, here's a surprise: Since 2001, the debt load in conservative Texas has grown faster than the federal debt.
    Texas has been borrowing more than most other states, too. And local entities, from cities to school districts to transit authorities, have been piling up even more debt.
    From 2001 to 2010, state debt alone grew from $13.4 billion to $37.8 billion, according to the Texas Bond Review Board. That's an increase of 281 percent. Over the same time, the national debt rose almost 234 percent, with two wars, two tax cuts and stimulus spending


    Read more: Texas' debt growing at faster rate than U.S. government's | Mitchell Schnurman | Dallas ...
     
  2. Missourian
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    Missourian Platinum Member

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    ThinkProgress. Enough said.

    Come back with a reliable source and I'll be happy to read it.
     
  3. Auxous
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    Auxous BANNED

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    I dunno....he sounds on par for a fiscal conservative.
     
  4. Salt Jones
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    That's what I say about the bible.
     
  5. rdean
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    The source doesn't make the news wrong. Just because you don't want to hear it. Evolution is right and yet the right wing doesn't believe that either. Even with all that evidence.

    Perry should thank Obama for the stimulus money that dug Texas out of a rather deep hole.

    Texas balanced budget with stimulus money from Washington - Jan. 23, 2011

    "Unfortunately, it's a pattern of the governor publicly distancing himself from the federal stimulus while accepting the majority of the money," Dunnam said. "They took $16 billion, and most Texans think they haven't taken any of it."

    Perry ducked state law on disclosing some stimulus money

    Carlson: Perry "Stood Up To The President Of The United States And Said No Thanks." After playing a video of Texas Governor Rick Perry criticizing the use of stimulus funds for expanding unemployment insurance, Gretchen Carlson said, "he turned away the federal stimulus money." [Fox News, America Live, 6/10/11; TX Office of the Governor, 3/12/09]

    In Fact, Texas Used Stimulus Funds To Balance Its Budget.

    Dead Wrong: Fox's Gretchen Carlson Says Texas Gov. Perry Refused Stimulus Funds

    AUSTIN — Comptroller Carole Keeton Strayhorn did not win friends five years ago when she warned Gov. Rick Perry and state lawmakers they were writing the "largest hot check in Texas history" during a tax overhaul that resulted in lower property taxes and a revised business tax.
    Strayhorn told them their plan would fall about $23 billion short over a five-year period.
    Now, five years later, state leaders are staring at an estimated budget shortfall of nearly $27 billion over the next two years.


    http://www.chron.com/disp/story.mpl/metropolitan/7383426.html
     
    Last edited by a moderator: Aug 15, 2011
  6. Greenbeard
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    You could easily confirm the numbers by consulting the source referenced: the Texas Bond Review Board (page 19 of the PDF will give you a nice graph). You can trust the Board--it's chaired by Rick Perry.
     
  7. rdean
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    Why does the right prefer lies over truth?
     
  8. martybegan
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    From the data is seems only a small percent is general revenue debt, which is basically used to make up shortfalls in the general budget. Most of it is revenue debt, which pays for itself and does not impact the overall budget of the state unless there are default issues. Revenue debt for example is debt funded by tolls for highway work, or school building paid for by a specific fee.

    If you look at the later charts texas is 2nd in population but anywhere from 5th to 10th in total value of debt based on the calculation. Places like NY and IL are far more boned.
     
  9. appleannie1
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    appleannie1 Member

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    Will this do?

    Texas Bond Review Board
    Debt Affordability
    Study

    http://www.brb.state.tx.us/pub/bfo/DAS2011.pdf

    Or is that also unreliable in your opinion?
     
  10. Mustang
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    Didn't Perry use stimulus money to balance his budget?

    Texas balanced budget with stimulus money from Washington - Jan. 23, 2011
     

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