Originally posted by SleepyguyWhy do they need a 9 billion rainy day fund? Shouldn't they use that money to pay down the debt and save interest?
As a percentage of overall budget size, or on a per capita basis that probably puts TX in the middle of the pack or better. They also have a huge (over $9 billion) rainy day fund to tap without raising taxes or borrowing more. Govt spending is low as a percentage of gross state product. Oh, and jobs. They have those in Texas.
Originally posted by Metal BrainIndeed. The downgrade should have come sooner. The poltical pressure to not do so must have been tremendous.
We didn't get any spending cuts out of the legislation. All there are is the hope of spending cuts in the future, but none of that is binding.
There may not be any military cuts in spending at all because the loophole was built in. They left in an opening for tax increases. Then they had the nerve to call it a compromise.
This was clearly just an ex ...[text shortened]... show to convince my fellow Americans that we live in a democracy. We don't, it is all theater.
Originally posted by Metal BrainTexas state revenues tend to fluctuate widely based on the price of oil. The idea was to keep some of the excess revenue received when oil was high to offset reduced revenues in years when oil prices were low.
Why do they need a 9 billion rainy day fund? Shouldn't they use that money to pay down the debt and save interest?
Of course, Republicans managed to run up a huge deficit even when oil prices were high by unwise slashing of business tax rates (which they erroneously believed would greatly increase revenue supply side style).
Originally posted by no1marauderThank God we have the democrats to try and put their spending in check. 😛
Of course, Republicans managed to run up a huge deficit even when oil prices were high by unwise slashing of business tax rates (which they erroneously believed would greatly increase revenue supply side style).[/b]
1 edit
Originally posted by whodeyI realize Republicans like you can't grasp this point, but continual tax cuts cause deficits just as quickly as spending increases. Texas is last in per capita spending of any State, but still managed to run up a $27 billion deficit.
Thank God we have the democrats to try and put their spending in check. 😛
Originally posted by whodeyDo you have the capacity to engage in a serious discussion, whodey? Or are you eternally doomed to facetiousness and cynicism?
Today the S&P downgraded the US bond rating from AAA to AA. Now what?
I suppose this means that the two parties must now position themselves to blame the other. The Tea Party will be blamed for not wanting to raise taxes and the Dems will be blamed for not cutting spending enough.
Ok you partisan hacks, go do your job and start the finger pointing.
To your trenches!!! ðŸ˜
Originally posted by no1marauderI'm just glad Obama nnd the Dems don't play along with the lunacy of tax cuts....oh wait!!!
I realize Republicans like you can't grasp this point, but continual tax cuts cause deficits just as quickly as spending increases. Texas is last in per capita spending of any State, but still managed to run up a $27 billion deficit.
Originally posted by badmoonWrong!! Its the Tea Party that is to blame. Please refer to page 58 in your leftwinged handbook and repeat after me, "If it were not for those darn radical Teabaggers who refused to increase taxes, all would be well with the world."
We are in cohhots in this mess. Americans took a credit cadr/mortage inflating bath as well. It could be that the economy simply has to contract before it can really grow again.
As a father of three and with two grandchildren, I can't help but feel grim with what they are and will be dealing with.
3 edits
Originally posted by whodeyOk you partisan hacks, go do your job and start the finger pointing.
Today the S&P downgraded the US bond rating from AAA to AA. Now what?
I suppose this means that the two parties must now position themselves to blame the other. The Tea Party will be blamed for not wanting to raise taxes and the Dems will be blamed for not cutting spending enough.
Ok you partisan hacks, go do your job and start the finger pointing.
To your trenches!!! ðŸ˜
To your trenches!!! ðŸ˜
Such an ironic statement, after a multitude of barely disguised partisan talking points you dumped in other threads, that Im guessing soon you'll need to be rescued from drowning in your own clichés.
Originally posted by no1marauderLet us not forget-
What a laugh. They have a long term structural deficit because of gimmicky tax rate reductions that, according to supply side theory, was supposed to raise huge amounts of revenue. Of course, revenues fell far short of expectations. Naturally being right wingers they refuse to accept their error and instead have chosen to gut state spending (which was lo ...[text shortened]... tes. http://www.washingtonpost.com/wp-srv/special/politics/state-budget-crisis/index.html
#1 in the country for citizens with no health insurance.
#2 in the country for teen pregnancy
#1 in the country for repeat teen pregnancy
Thank God for religious conservatism that promotes family values and personal responsibility.
Originally posted by SleepyguyHow is being the 4th worst state for debt per capita being the middle of the pack?
As a percentage of overall budget size, or on a per capita basis that probably puts TX in the middle of the pack or better. They also have a huge (over $9 billion) rainy day fund to tap without raising taxes or borrowing more. Govt spending is low as a percentage of gross state product. Oh, and jobs. They have those in Texas.
http://www.forbes.com/lists/2010/44/debt-10_Global-Debt-Crisis_DebtPerCapita.html
As far as jobs, Texas is about the middle of the pack with Unemployment.