These are tough times for state governments. Huge deficits loom almost everywhere, from California to New York, from New Jersey to Texas.
Wait — Texas? Wasn’t Texas supposed to be thriving even as the rest of America suffered? Didn’t its governor declare, during his re-election campaign, that “we have billions in surplus”? Yes, it was, and yes, he did. But reality has now intruded, in the form of a deficit expected to run as high as $25 billion over the next two years.
And that reality has implications for the nation as a whole. For Texas is where the modern conservative theory of budgeting — the belief that you should never raise taxes under any circumstances, that you can always balance the budget by cutting wasteful spending — has been implemented most completely. If the theory can’t make it there, it can’t make it anywhere.
http://www.nytimes.com/2011/01/07/opinion/07krugman.html?_r=1
13 comments:
"And when you look at unemployment, Texas doesn’t seem particularly special: its unemployment rate is below the national average, thanks in part to high oil prices, but it’s about the same as the unemployment rate in New York or Massachusetts."
Where are all the free market created jobs? HMMMMMM?
I'm not sure why Ron Paul is attached to your commentary about Rick Perry's governance...
That said, people I work with would love to transfer to our office in Texas because of the low property prices, low income taxes, low sales tax, and higher wages.
Can't say I really care what RIM employees "would do", Josh. Again, where are the jobs for the bottom 25%? Why is there a 25 billion dollar hole in Texas' budget?
You mean a conservative government didn't practice what it preaches? Wow...shocker...
Why is Ron Paul's picture on your posting?
No, Josh, the point is that they did practice what they preached.
Then there wouldn't be a deficit.
And you don't know much about Texas politics because there's a large contingent of conservatives down there that look at Perry as a RINO and supported Debra Medina in the last election.
Why is Ron Paul's photo posted here?
I think that is obvious.
Not at all.
He is one of the dominate voices that led to the present politics of Texas.
Like I said, you know nothing of politics in Texas
And you know nothing of cause-and-effect.
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