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Thread: Path Is Sought for States to Escape Debt Burdens

  1. #71
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    Re: Path Is Sought for States to Escape Debt Burdens

    Quote Originally Posted by The Prof View Post
    evan thomas' team at newsweek sees things differently
    Texas has a lot of diversity. It is a big state. If my state had Texas oil we wouldn't be paying any taxes either. A lot of people are moving to Texas just like they moved to California decades ago. That means Texas will need more infrastructure to meet their needs. Eventually Texas will go the way of California. Especially if oil revenues drop.
    The company I work for expanded operations to Texas to take advantage of the cheap labor.

    http://www.bloomberg.com/news/2011-0...-in-1980s.html
    Last edited by Dirty Harry; 01-25-11 at 11:32 AM.

  2. #72
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    Re: Path Is Sought for States to Escape Debt Burdens

    i don't appreciate your kneejerk argumentation

    ie, you didn't even read the links

    ie, you're putting me in a position of getting in trouble for violating dp's fair use rules

    ie, grow up

    Unlike the Sun Belt states and cities along the East and West coasts, these locales not only grew during the boom of the mid-2000s, they suffered least in the Great Recession. The fact that they are mostly in red states should give the newly ascendant GOP comfort as it tries to deliver on its election-year promise to right the economy. That isn’t to say all the blue states will remain weather-beaten. Wall Street, heady with cheap money, has sparked a return to opulence. And the strong demand for high-tech products and services will likely keep places like Boston, San Francisco, and San Diego from devolving into fancy versions of Detroit. Yet given the results of last week’s election and the increasing odds against another bailout of state governments, the near-broke and highly regulated blue states will be hard-pressed to generate much new employment.
    newsweek already cited for you texas' "pro business, anti tax policies"

  3. #73
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    Re: Path Is Sought for States to Escape Debt Burdens

    Quote Originally Posted by The Prof View Post
    i don't appreciate your kneejerk argumentation

    ie, you didn't even read the links

    ie, you're putting me in a position of getting in trouble for violating dp's fair use rules

    ie, grow up



    newsweek already cited for you texas' "pro business, anti tax policies"
    Kneejerk? Give me a break. Texas revenues are declining and they will have a deficit of 25 billion if they keep spending constant. That is why they plan on cutting 30 billion in spending.
    AUSTIN, Texas - Lt. Gov. David Dewhurst unveiled the Texas Senate's draft budget proposal on Monday, which called for 10.1 percent reduction in general revenue spending. The bill largely mirrors what was introduced by the state House last week.
    Facts, not kneejerk. Why do you right wingnuts always seem to ignore reality and only believe what you want to believe.
    Texas can afford to be pro business/anti tax because of their oil revenues.

    You live in Texas or something?
    Unemployment is lower in my state than Texas.
    Last edited by Dirty Harry; 01-25-11 at 11:57 AM.

  4. #74
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    Re: Path Is Sought for States to Escape Debt Burdens

    ask evan thomas

    grow up

  5. #75
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    Re: Path Is Sought for States to Escape Debt Burdens

    Quote Originally Posted by The Prof View Post
    ask evan thomas

    grow up
    http://www.washingtontimes.com/news/...ly-to-slash-a/
    http://www.texastribune.org/texas-ta...get-shortfall/
    http://dallasmorningviewsblog.dallas...story-r-5.html
    Ask him what? That Texas revenues aren't declining? Do you even know what you're talking about?
    Looks like you are the one that needs to grow up. How old are you? Twelve?


    Newsweek? Is that where you get all your information? LOL
    Last edited by Dirty Harry; 01-25-11 at 12:05 PM.

  6. #76
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    Re: Path Is Sought for States to Escape Debt Burdens

    Quote Originally Posted by Dirty Harry View Post
    Really?
    2011 Budget Shortfall | Topic | The Texas Tribune
    2011 Budget Shortfall



    A budget shortfall as high as $25 billion is projected as lawmakers head into the 2011 legislative session, according to estimates from economists and the comptroller's office. Texas writes budgets biennially, or in two-year terms, so the shortfall affects the 2012-2013 state budget.

    Leadership in the Texas Legislature, which is dominated by fiscal conservatives, is not expected to support attempts to raise taxes to fill the multibillion-dollar hole. But social service advocates say the state's safety net system can't afford any further budget cuts.

    Texas’s Perry Faces Record Budget Gap on Revenue Drop - Businessweek

    Texas’s Perry Faces Record Budget Gap on Revenue Drop
    January 11, 2011, 10:31 AM EST

    By David Mildenberg

    Jan. 11 (Bloomberg) -- Governor Rick Perry, after touting Texas’s growth while holding down taxes and spending, faces the biggest two-year budget gap in state history and a challenge some compare to the 1980s, when an oil bust roiled the economy.

    Texas’s revenue will fall 2.9 percent to $72.2 billion in the two-year fiscal period that begins Sept. 1 compared with the biennium ending in August, state Comptroller Susan Combs said yesterday in Austin. She said the state also faces a $4.3 billion deficit that must be closed by the end of August.
    And as the Legislature gathers, what did Perry declare as top emergency legislation?

    One is requiring women seeking abortions to first get a sonogram of the fetus.

    Another is voter ID.

    Glad to see the cons have their priorities in order....LOL


    Cons are funny. Funny cons.
    “We just simply don’t know how to govern” - Rep. Steve Womack (R-AR) a member of the House Budget Committee

  7. #77
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    Re: Path Is Sought for States to Escape Debt Burdens

    while the gamins continue to argue and giggle, the bottom line abides---public pensions and expansive medicaid are sinking our states

    'Something's Got To Give': Massive Pension Fund Shortfalls Threaten To Bankrupt States

    Soaring Medicaid costs could bust state budgets - Sep. 30, 2010

    it's really pretty simple

    ie, moms and pops get it

    seeya at the polls, pals

  8. #78
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    Re: Path Is Sought for States to Escape Debt Burdens

    Quote Originally Posted by The Prof View Post
    while the gamins continue to argue and giggle, the bottom line abides---public pensions and expansive medicaid are sinking our states

    'Something's Got To Give': Massive Pension Fund Shortfalls Threaten To Bankrupt States

    Soaring Medicaid costs could bust state budgets - Sep. 30, 2010

    it's really pretty simple

    ie, moms and pops get it

    seeya at the polls, pals
    The recession is sinking the states. It's that simple.

  9. #79
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    Re: Path Is Sought for States to Escape Debt Burdens

    june, 2005:

    Exploding Medicaid costs are straining state budgets across the country and were a primary cause of 2006 budget gaps that legislators faced in roughly half of the states this year, according to an April 14 report from the NCSL.
    Budget deadline looms large in 10 states

    november, 2006:

    Across the country, government workers’ pensions are protected by guarantees even stouter than those on pensions in the private sector. The legal promises, often backed up by union contracts, cover more than 15 million people.

    Years of supporting court interpretations have enshrined the view that once a public employee has earned a pension, no one can take it away. Even during New York City’s fiscal crisis 30 years ago, no existing pension promises were reduced.

    But now a number of state and local governments are quietly challenging those guarantees. Financially troubled San Diego is the highest-profile example, but a handful of states, cities and smaller government bodies have also found ways to scale back existing promises and even shrink some current payments.

    While still only scattered cases, these examples may be an early warning sign of what could be coming elsewhere. As local officials take stock of unexpectedly large obligations to retired public workers, some are starting to question whether service cuts, sales of government property and politically acceptable tax increases can ever go far enough to bring things into balance.
    http://www.nytimes.com/2006/11/06/bu...sion.html?_r=1
    Last edited by The Prof; 01-25-11 at 05:01 PM.

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