Texas waiting, watching national debt showdown

San Antonio/AP ^ | July 31, 2011 | CHRIS TOMLINSON

[Clairity]

Texas ranks near the bottom in government spending per citizen, and it relies on federal money much less than many other states, making it less reliant on the federal government. That was reflected in a recent report by Moody's Investor Services, a credit rating agency.

Texas has a AAA bond rating, making it one of the safest bets for investors and giving the state the low interest rates on the bonds it issues to raise money. Moody's placed the federal government and five other states on notice that if the debt ceiling is not raised, and the government defaults, they could lose their AAA rating and pay more in interest.

Moody's excluded Texas from the list of states facing a possible downgrade in its credit rating...

[txhurl]

Aside from sanctuary status, high-speed rail seems to have some ugly import here....

[PetroniDE]

Maybe I should move to Texas. Come on down; just leave any liberal Yankees you know behind.

[shield]

Texas is bigger than most countries so saying it's flat and hot is rather stupid. My oldest grand daughter said something similar and both her Mom and self explained Texas to her. She is now with her parents a Ft. Sam and has seen some of Texas with it's great scenery...

[Texan]

Do they still get $8,500 a year?

$7,200 plus $128. a day when they are in session. Total $25,120. No additional money for special sessions. The idea is to discourage "professional" Legislator types and encourage "citizen legislators".