What about the debt our own state is quietly building?

Dallas Morning News ^ | 8-3-11 | Jim Dunnam

[SUSSA]

With all our attention focused on the federal debt ceiling debacle in Washington, it is easy to ignore our own state debt crisis here in Texas. The state’s debt is increasing at a rate that rivals that of the federal government, yet no one seems to know it.

[SUSSA]

Try this link.

http://www.chron.com/disp/story.mpl/editorial/outlook/7680903.html

[camerongood210]

GDP: $1,163,269,300,000
Debt: $216,447,503,000

If you watch the debt ticker, the GDP is going up and the debt is going down.

[SUSSA]

We could have roads without debt or tolls AND a large tax cut if we did away with our socialized schooling system. Socialized schooling is the biggest item in the state budget.

[hellbender]

And getting rid of socialized schools would put the cultural Marxists out of business.

[TheOldLady]

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[OrangeHoof]

Reads like small potatoes to me: Fedgov is spending trillions of dollars in debt while Texas is spending maybe $30 billion. Multiply Texas' debt by 50 states, and you still get anywhere close to the federal debt.

There's another flaw in Dunnam's arguments. Texas is growing economically. It's adding new businesses, new jobs and new residents. Therefore, there will be new taxpayers to pay part of the debt going forward.

Yes, it would be better if there were no debt but the only reason we are having to go into debt to build so many roads is because the money we are sending to Washington is no longer coming back to build new interstates and, after a few decades of pleading to Washington to fund them and unwilling to put it all on the backs of the motorists, Texans are gambling that some debt to build infrastructure is going to pay off with more businesses and more tax revenue, which it should ultimately do unless Washington crashes the economy.

[SUSSA]

Another reason we have to borrow to build roads is we waste an increasing amount money on mass transit. We should pour nothing down that rat hole either.

[MikeSteelBe]

The 10th plank of the communist manifesto is free public education.