Texas Used Stimulus to Cover 97% of Its Deficit in 2009

[NYcarbineer]

Yep didn't TX first say they were not gonna even accept any stimulus money?

If Rick Perry and his wingnut followers had their way,

this would have been foreign aid.

 

[boedicca]

Doggie needs to read the rest of the sentence:

Texas, which crafts a budget every two years, was facing a $6.6 billion shortfall for its 2010-2011 fiscal years. It plugged nearly all of that deficit with $6.4 billion in Recovery Act money, allowing it to leave its $9.1 billion rainy day fund untouched.


IOW, they took the money the Feds were handing out (given that their citizens pay federal taxes, a not unreasonable thing to do), and used it to keep their rainy day fund intact.

Without it, their Rainy Day fund would have been reduced to $2.7B.

The view from CA is pea green with envy.

 

[Oddball]

Educated speculation, guided by experience: Things would know little about.

So that's a no. Nice use of the age card however.

Since you're lack of imagination seems to be exceeded only by your lack of real-world experience, let me draw you a picture:

Say you're an AFSCME leader/organizer, who sees that your pension fund is is heading for a fiscal meltdown.

Then, along comes old Hopey-changey, with a nice pile of cash that would forestall, if but only for awhile, that impending financial train wreck.

Enter the upstart governor of the State of Texas, standing between you and that fat pile of cash.

If you really need me to write the rest of the story, you're even more naïve than I had imagined.

 

[Oddball]

And the feds wouldn't be jacking with Perry, would they?

No....Not much.

In one of the most outrageous displays of arrogance by Washington in recent memory - which is saying a lot, of course - the House Democrats have inserted specific language on top of $10 Billion in funding for education included in a War Supplemental bill targeted directly and solely at Texas - language that demands the money be spent in certain ways.

<snip>

What’s really going on is that the statists are aggravated that Governor Perry keeps telling the Feds to stuff it when he believes it is better for Texans that they not take federal money and the strings that comes with it. And they cannot stand it.

It gets even better when you realize that they moved money from some congressional districts to others (want to guess how Republican districts made out vs. Democrat districts?). Even more, hundreds of school districts in Texas are going to lose funds compared to what they would have gotten if we were allowed to distribute using state formulas like every other state. And, every other state can use these funds to cover budget shortfalls they are experiencing. Texas, if we are awarded such funds which is in doubt, can only give these funds over and above existing levels which will create a funding cliff when they run out. In other words, it will lead to teacher layoffs which is what these funds are designed to prevent.

Arrogant Washington Threatens Rick Perry and Texans&#8217; Right To Govern Themselves | RedState

 

[NYcarbineer]

Doggie needs to read the rest of the sentence:

Texas, which crafts a budget every two years, was facing a $6.6 billion shortfall for its 2010-2011 fiscal years. It plugged nearly all of that deficit with $6.4 billion in Recovery Act money, allowing it to leave its $9.1 billion rainy day fund untouched.


IOW, they took the money the Feds were handing out (given that their citizens pay federal taxes, a not unreasonable thing to do), and used it to keep their rainy day fund intact.

Without it, their Rainy Day fund would have been reduced to $2.7B.

The view from CA is pea green with envy.

Since they already get more in federal money than they pay in, they should have had to use their rainy day fund.

 

[NYcarbineer]

Doggie needs to read the rest of the sentence:

Texas, which crafts a budget every two years, was facing a $6.6 billion shortfall for its 2010-2011 fiscal years. It plugged nearly all of that deficit with $6.4 billion in Recovery Act money, allowing it to leave its $9.1 billion rainy day fund untouched.


IOW, they took the money the Feds were handing out (given that their citizens pay federal taxes, a not unreasonable thing to do), and used it to keep their rainy day fund intact.

Without it, their Rainy Day fund would have been reduced to $2.7B.

The view from CA is pea green with envy.

I thought the stimulus money was all borrowed? I thought that was what you 'nuts have been crying about for 2 years. Now you want say it was just federal taxes returned to the states?? lol

 

[JWBooth]

Texas Used Stimulus to Cover 97% of Its Deficit - Derek Thompson - Business - The Atlantic

Turns out Texas was the state that depended the most on those very stimulus funds to plug nearly 97% of its shortfall for fiscal 2010, according to the National Conference of State Legislatures.

Texas, which crafts a budget every two years, was facing a $6.6 billion shortfall for its 2010-2011 fiscal years. It plugged nearly all of that deficit with $6.4 billion in Recovery Act money, allowing it to leave its $9.1 billion rainy day fund untouched.

In FY 2012, Texas' deficit is projected to come in at $12 billion, more than 30 percent of its budget -- the third highest rate in the country. But the states, which are collectively facing a $120 billion shortfall next year, are unlikely to see any more stimulus, in large part due to the efforts of conservatives like Gov. Perry, who have slammed the Recovery Act as a wasteful and ineffective government bailout. You make your own bed, etc.

Yep, Governor Goodhair, he's a real piece of work. He can talk out of his ass and both sides of his mouth. Maybe he is ready for the big time now, corruption and lying on the national stage.

 

[JFK_USA]

How dare they use the money they were given!

If you are really upset over this, perhaps you shouldnt have given them the money in the first place.

swing and a miss, in fact you just struck out your whole team.

No kidding. Its about Rick Perry and other Republicans sitting there saying one thing and doing another. They run on a platform on balancing a budget that was "out of control" yet repeal Healthcare that ADDS to our growing deficit. Seriously? Its called being a hypocrite, or as I like to call it being a republican.

 

[Oddball]

Fact remains that this is what the sham of a "stimulus" was aimed at doing.

Where Did the Stimulus Go?

 

[Mr. Shaman]

It's becoming more-and-more clear how people like Lil' Dumbya & Rick Perry got elected, in Texas......​

February 16, 2011​

"Texas ranks near the bottom of all states in taxing and spending per capita, but is dead last in the percentage of adults with a high school diploma, according to a study released Tuesday by a panel of mostly Democratic lawmakers.

The biennial study, "Texas on the Brink," compared Texas to the rest of the country based on various functions of government, including public education and taxing, and other measures, such as air quality and health concerns.

It was compiled using information from numerous government and nonprofit reports including census data, the National Center for Children and Poverty and the Kaiser Family Foundation. The report didn't list how other states ranked.

Lawmakers who serve in the Legislative Study Group, which prepared the rankings, called Texas' performance "abysmal" and urged the state's Republican leadership to use the poor showing as inspiration to improve.

Texas has the highest percentage of uninsured children and ranks near last in the amount of state and local money spent per student in public schools. It also found that Texas "has the dirtiest air in the nation," said Rep. Elliot Naishtat, treasurer of the 35-member panel.

"We've earned a reputation as first in jails and last in schools. Given that we lead the nation in the number of people we execute and the fact that we're last in high school graduation rates, I'd say that we've lived up to our reputation," Naishtat said."

Quality Of Life In Texas 'abysmal'​

 

[Mr. Shaman]

Fact remains that this is what the sham of a "stimulus" was aimed at doing.

Where Did the Stimulus Go?

....But, the Stim was magically-transformed when Republicans put their names on the checks!!!

​

 

[Quantum Windbag]

Texas Used Stimulus to Cover 97% of Its Deficit - Derek Thompson - Business - The Atlantic

Turns out Texas was the state that depended the most on those very stimulus funds to plug nearly 97% of its shortfall for fiscal 2010, according to the National Conference of State Legislatures.

Texas, which crafts a budget every two years, was facing a $6.6 billion shortfall for its 2010-2011 fiscal years. It plugged nearly all of that deficit with $6.4 billion in Recovery Act money, allowing it to leave its $9.1 billion rainy day fund untouched.

In FY 2012, Texas' deficit is projected to come in at $12 billion, more than 30 percent of its budget -- the third highest rate in the country. But the states, which are collectively facing a $120 billion shortfall next year, are unlikely to see any more stimulus, in large part due to the efforts of conservatives like Gov. Perry, who have slammed the Recovery Act as a wasteful and ineffective government bailout. You make your own bed, etc.

And? Show me a single state that did not use the stimulus to make their budget look good.

The weird thing about this is that there is not a single Texan I have ever met that understands anything about politics that has ever pointed to Texas as an example of anything but how not to do government. Am I supposed to be upset that they used tricks and gimmicks to balance the budget, and that they are $15 (not $27) billion dollars in ht e hole because they assumed that money would poor in simply because it always had?

Tell you what, go read Molly Ivins old columns to get an idea how Texas really works, and then you might have enough knowledge to come back and criticize that state. Until then you just look like you are whining to those who do understand the Texas Legislature and its dedication to all things ridiculous.

 

[Mr. Shaman]

Texas Used Stimulus to Cover 97% of Its Deficit - Derek Thompson - Business - The Atlantic

Turns out Texas was the state that depended the most on those very stimulus funds to plug nearly 97% of its shortfall for fiscal 2010, according to the National Conference of State Legislatures.

Texas, which crafts a budget every two years, was facing a $6.6 billion shortfall for its 2010-2011 fiscal years. It plugged nearly all of that deficit with $6.4 billion in Recovery Act money, allowing it to leave its $9.1 billion rainy day fund untouched.

In FY 2012, Texas' deficit is projected to come in at $12 billion, more than 30 percent of its budget -- the third highest rate in the country. But the states, which are collectively facing a $120 billion shortfall next year, are unlikely to see any more stimulus, in large part due to the efforts of conservatives like Gov. Perry, who have slammed the Recovery Act as a wasteful and ineffective government bailout. You make your own bed, etc.

And? Show me a single state that did not use the stimulus to make their budget look good.

The weird thing about this is that there is not a single Texan I have ever met that understands anything about politics that has ever pointed to Texas as an example of anything but how not to do government. Am I supposed to be upset that they used tricks and gimmicks to balance the budget, and that they are $15 (not $27) billion dollars in ht e hole because they assumed that money would poor in simply because it always had?

Tell you what, go read Molly Ivins old columns to get an idea how Texas really works......

Better, yet.......



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If America Had Only Listened To Molly...

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