Fed if 5-8% growth a year.
Texas spending grew 100% in 9 years. On my calculator that’s in excess of 8%.
WHy don’t you do your research? You have this unsubstantiated opinion that the federal growth is > texas spending growth over the last 10 years.
Can you prove your case?
2001 Tx Budget = 49 Billion
2010 Tx Budget = 91 Billion
9 years 85.7% increase
90% of the bonds currently being held by Texas are for self-satisfying debt (ie., debt that will eventually be paid off by the people for whom the debt was incurred). You do realize that Texas has a BBA and cannot incur debt without (1) public referendum via vote (2) capital improvements (3)self-satisfying debt.
Let me make this really easy for you to understand. Texas spent $3 Billion for a new cancer research center. The bond will be paid by the people who use the cancer research center. It will not be paid through increased taxes.
Texas spent several billion on student loans. Unlike the rest of the country, where jobs are few and far between, we have jobs. The bond for those student loans will be paid by the people who took the loans to get through college. It will not be paid for through tax increases.
Your inability to distinguish between non-satisfying and self-satisfying debt tells me you don't know what the heck you are talking about.
Only 10%, spread over approximately 10 years, is an unfunded increase in government services.
Please feel free to spread your nonsense all you want, but expect to be called on it.