Page 7 of 8 FirstFirst ... 5678 LastLast
Results 61 to 70 of 79

Thread: Path Is Sought for States to Escape Debt Burdens

  1. #61
    Professor
    Dirty Harry's Avatar
    Join Date
    Dec 2009
    Last Seen
    07-01-11 @ 01:48 PM
    Lean
    Independent
    Posts
    1,390

    Re: Path Is Sought for States to Escape Debt Burdens

    Quote Originally Posted by The Prof View Post
    tell it to obama, pelosi, moonbeam, cuomo...

    sharing your ideas WITH ME is a waste of both our times
    What about Boehner?

  2. #62
    Sage

    Join Date
    Jul 2009
    Last Seen
    05-16-15 @ 02:32 PM
    Lean
    Undisclosed
    Posts
    12,537

    Re: Path Is Sought for States to Escape Debt Burdens

    you have to ask?

    LOL!

  3. #63
    Sage
    ksu_aviator's Avatar
    Join Date
    Nov 2010
    Location
    Fort Worth Texas
    Last Seen
    Today @ 02:54 PM
    Gender
    Lean
    Very Conservative
    Posts
    6,680
    Blog Entries
    10

    Re: Path Is Sought for States to Escape Debt Burdens

    Quote Originally Posted by Dirty Harry View Post
    Really?.........
    Dec 2010 was compared to '09.

    Rick Perry Faces the Biggest Drop in Texas Revenue Since Oil Bust in 1980s - Bloomberg
    Rick Perry Faces the Biggest Drop in Texas Revenue Since Oil Bust in 1980s
    Oh...so we are supposed to compare today to a better time so that it fits your whole theory. Yes, Texas is slightly lower than 2008...but 2008 was a year with a higher GDP than 2010.
    You, my brothers and sisters, were called to be free. But do not use your freedom to indulge the flesh; rather, serve one another humbly in love.For the entire law is fulfilled in keeping this one command: “Love your neighbor as yourself.”

  4. #64
    Professor
    Dirty Harry's Avatar
    Join Date
    Dec 2009
    Last Seen
    07-01-11 @ 01:48 PM
    Lean
    Independent
    Posts
    1,390

    Re: Path Is Sought for States to Escape Debt Burdens

    Quote Originally Posted by ksu_aviator View Post
    Oh...so we are supposed to compare today to a better time so that it fits your whole theory. Yes, Texas is slightly lower than 2008...but 2008 was a year with a higher GDP than 2010.
    My theory? Hardly. Revenues in Texas have plummetted leading to a 25 billion deficit. Fact. Not theory.

    Rick Perry Faces the Biggest Drop in Texas Revenue Since Oil Bust in 1980s

  5. #65
    Sage
    cpwill's Avatar
    Join Date
    Dec 2009
    Location
    USofA
    Last Seen
    Today @ 12:10 PM
    Gender
    Lean
    Conservative
    Posts
    57,076

    Re: Path Is Sought for States to Escape Debt Burdens

    not really. Texas budgeting, by law, is zero based. so what they actually have is 25 billion less to spend than last year.

    mind you - thanks to their fiscal conservatism - they also have a hefty emergency fund sitting by. but i think they're just going to lower spending rather than touching that.

  6. #66
    Sage
    ksu_aviator's Avatar
    Join Date
    Nov 2010
    Location
    Fort Worth Texas
    Last Seen
    Today @ 02:54 PM
    Gender
    Lean
    Very Conservative
    Posts
    6,680
    Blog Entries
    10

    Re: Path Is Sought for States to Escape Debt Burdens

    Quote Originally Posted by Dirty Harry View Post
    My theory? Hardly. Revenues in Texas have plummetted leading to a 25 billion deficit. Fact. Not theory.

    Rick Perry Faces the Biggest Drop in Texas Revenue Since Oil Bust in 1980s
    Yes, there is a drop in revenue...but how much money the government spends has nothing to do with whether or not we are ok. Texans aren't losing sleep over the government spending $25 billion less than last year. You can trust me on that.
    You, my brothers and sisters, were called to be free. But do not use your freedom to indulge the flesh; rather, serve one another humbly in love.For the entire law is fulfilled in keeping this one command: “Love your neighbor as yourself.”

  7. #67
    Professor
    Dirty Harry's Avatar
    Join Date
    Dec 2009
    Last Seen
    07-01-11 @ 01:48 PM
    Lean
    Independent
    Posts
    1,390

    Re: Path Is Sought for States to Escape Debt Burdens

    Quote Originally Posted by cpwill View Post
    not really. Texas budgeting, by law, is zero based. so what they actually have is 25 billion less to spend than last year.

    mind you - thanks to their fiscal conservatism - they also have a hefty emergency fund sitting by. but i think they're just going to lower spending rather than touching that.
    Most states are broke, even Texas. Anti-tax, anti-labor and pro-business Texas was supposed to be the conservative beacon of fiscal smarts to others. Turns out the magic-hat trick of low taxes doesn't always pan out. The Lone Star State's budget shortfall could reach $27 billion.

    That approximates the sad number now burdening high-tax, highly regulated and much unionized California, and Texas has only two-thirds as many people. The problem in Texas is that sales taxes account for 60 percent of revenues, and they dropped sharply in the recession. Having no income tax, Texas fell into budget havoc when consumers stopped spending.

    But Texas also has a structural deficit -- that is, a deficit unrelated to economic conditions. Texas lawmakers cut property taxes in 2006 and created a business tax to cover the lost revenues. It was apparently not big enough.
    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.
    ...........................The only reason Texas had done better than other states is oil.
    Last edited by Dirty Harry; 01-25-11 at 10:46 AM.

  8. #68

  9. #69
    Professor
    Dirty Harry's Avatar
    Join Date
    Dec 2009
    Last Seen
    07-01-11 @ 01:48 PM
    Lean
    Independent
    Posts
    1,390

    Re: Path Is Sought for States to Escape Debt Burdens

    The recession is finally catching up to Texas. Without Texas oil and the cheap labor they would be in worse shape than the rest of the country.
    There are 19 states with lower unemployment rates than Texas.
    Last edited by Dirty Harry; 01-25-11 at 11:19 AM.

  10. #70
    Sage

    Join Date
    Jul 2009
    Last Seen
    05-16-15 @ 02:32 PM
    Lean
    Undisclosed
    Posts
    12,537

    Re: Path Is Sought for States to Escape Debt Burdens

    evan thomas' team at newsweek sees things differently

    For sheer economic promise, no place beats Texas. Though the Lone Star State’s growth slowed during the recession, it didn’t suffer nearly as dramatically as the rest of the country. Businesses have been flocking to Texas for a generation, and that trend is unlikely to slow soon. Texas now has more Fortune 500 companies—58—than any other state, including longtime corporate powerhouse New York.

    Austin boasted the strongest job growth in NEWSWEEK’s Top 10, both last year and over the decade. Home to the state capital and the ever-expanding University of Texas, the city is arguably the best-positioned of the nation’s emerging tech centers. It enjoys good private-sector growth, both from an expanding roster of homegrown firms and outside companies, including an increasing array of multinationals such as Samsung, Nokia, Siemens, and Fujitsu.

    Yet Austin’s newfound prosperity isn’t simply a product of its university culture or its synergetic collection of technology firms. Its success owes a great deal to simply being in Texas—a state itching to eclipse its historic archrival, the increasingly troubled California. Indeed, Texas is becoming to the Golden State what Arizona, Nevada, and Oregon were in the last decade: a refuge for workers and companies fed up with California’s high unemployment, cost of living, and dysfunctional state government.

    The Texas economy has benefited from widening diversification. Houston has a robust energy business and medical-services industry, and thriving international trade—all long-term growth areas. Dallas enjoys an expanding tech sector and well-developed business-service industries tied to a powerful corporate base. San Antonio has a strong military connection and an expanding manufacturing capacity, and it is a key locale for the growing Latino marketplace. What’s more, Texas offers pro-business policies and relatively low taxes, and the physical infrastructure in the cities is generally as good or better than in many East and West coast metropolitan areas.

    People are voting with their feet. All four Texas cities are enjoying strong immigration from the rest of the country and abroad. Houston and Dallas have higher rates of immigration than Chicago, and if the job picture stays the same, those cities could someday rival New York and Los Angeles in terms of ethnic diversity.

Page 7 of 8 FirstFirst ... 5678 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •