Posted Jan 03, 2011 12:07pm EST by Joe Weisenthal and Gus Lubin
You know the story and you know the names: states like Illinois, New Jersey, New York, and California are supposed to be in huge financial trouble thanks to bloated governments, business-unfriendly regulations, and strong public sector unions . . .
That's the conservative view of the story.
But there's one state, which is fairly high up on the list of troubled states that nobody is talking about, and there's a reason for it.
The state is Texas.
This month the state's part-time legislature goes back into session, and the state is starting at potentially a $25 billion deficit on a two-year budget of around $95 billion. That's enormous.
And there's not much fat to cut. The whole budget is basically education and healthcare spending.
Cutting everything else wouldn't do the trick. Although raising the revenues would be easy on an economy of $1.2 trillion, the new GOP mega-majority in Congress is firmly against raising taxes.
So the biennial legislature, which convenes this month, faces some hard cuts. Some in the Texas . . . have advocated dropping Medicade altogether to save money.
So why haven't we heard more about Texas, one of the most important economy's in America?
Well, it's because it doesn't fit the script. It's a pro-business, lean-spending, no-union state. You can't fit it into a nice storyline, so it's ignored.
But if you want to make comparisons between U.S. states and ailing European countries, think of Texas as being like America's Ireland.
Ireland was once praised as a model for economic growth: conservatives loved it for its pro-business, anti-tax, low-spending strategy, and hailed it as the way forward for all of Europe. Then the Celtic Tiger blew up.
This is the sleeper state budget crisis of 2011, and it will be praised for doing great, right up until the moment before it blows up.
Florida is in a similar situation. it , too, has been It's a pro-business, lean-spending, no-union state. In fact, It has fewer state employees per state residnets than any state in the union.
It has a $3.5 billion shortfall and Obama worked with former governor, Charlie Crist, to help the state makes its budget last year.
Florida is in a similar situation. It has been Republican-run for the past 12 years and Rick Scott, the new grifter governor, was just elected for another four year term. What's Scott solution for the budget: open up the state to casinos.
The Miami Herald reported that a Leon County Circuit Court ruling in November, which let the Legislature allow slot machines without a constitutional amendment.
This could clear the way for current legislation without a statewide vote. Florida voters rejected casino gambling on at least three separate occasions.
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That's the conservative view of the story.
But there's one state, which is fairly high up on the list of troubled states that nobody is talking about, and there's a reason for it.
The state is Texas.
This month the state's part-time legislature goes back into session, and the state is starting at potentially a $25 billion deficit on a two-year budget of around $95 billion. That's enormous.
And there's not much fat to cut. The whole budget is basically education and healthcare spending.
Cutting everything else wouldn't do the trick. Although raising the revenues would be easy on an economy of $1.2 trillion, the new GOP mega-majority in Congress is firmly against raising taxes.
So the biennial legislature, which convenes this month, faces some hard cuts. Some in the Texas . . . have advocated dropping Medicade altogether to save money.
So why haven't we heard more about Texas, one of the most important economy's in America?
Well, it's because it doesn't fit the script. It's a pro-business, lean-spending, no-union state. You can't fit it into a nice storyline, so it's ignored.
But if you want to make comparisons between U.S. states and ailing European countries, think of Texas as being like America's Ireland.
Ireland was once praised as a model for economic growth: conservatives loved it for its pro-business, anti-tax, low-spending strategy, and hailed it as the way forward for all of Europe. Then the Celtic Tiger blew up.
This is the sleeper state budget crisis of 2011, and it will be praised for doing great, right up until the moment before it blows up.
Florida is in a similar situation. it , too, has been It's a pro-business, lean-spending, no-union state. In fact, It has fewer state employees per state residnets than any state in the union.
It has a $3.5 billion shortfall and Obama worked with former governor, Charlie Crist, to help the state makes its budget last year.
Florida is in a similar situation. It has been Republican-run for the past 12 years and Rick Scott, the new grifter governor, was just elected for another four year term. What's Scott solution for the budget: open up the state to casinos.
The Miami Herald reported that a Leon County Circuit Court ruling in November, which let the Legislature allow slot machines without a constitutional amendment.
This could clear the way for current legislation without a statewide vote. Florida voters rejected casino gambling on at least three separate occasions.
Subscribe to the Rightardia feed: http://feeds.feedburner.com/blogspot/UFPYA
Netcraft rank: 6537 http://toolbar.netcraft.com/site_report?url=http://rightardia.blogspot.com
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