Conservative writer Christopher Chantrill presents publicly available data on government finances and his estimates. Measured as a percentage of state product, he ranks Texas among the lowest on state debt and among the highest on local debt. Combine state and local, and in 2010, he estimates that Texas had debt of $8,943 per person, $380 more than the average for all the states. In 2001, the Texas debt load was $4,608 per person -- and $843 lower than the states' average.
There are crucial differences between state and national debt, said John Kennedy, a senior analyst at the Texas Taxpayers and Research Association in Austin. Texas isn't borrowing to pay deficits, and it's limited in the amount that it can borrow, because the debt ceiling can't be raised without voters' approval.
/johnny
More hogwash from this pile of crap so-called newspaper. With no state income tax (even on trillionaires and quadzillionaires) Texas has AA++ bond rating and one of the lowest debt ratios of any state.
By the way, the front page news in the Stranglegram today was “Republicans threaten to deny Seniors their hard earned social security checks, but Our President Obama (peace be upon his name) promises to keep fighting Hard against conservative Atrocities”—or something like that.
Perhaps the Federal government can learn from Texas because they grew this debt with no personal or corporate income tax.
Interesting they went back 10 years.
Despite my nick, I don't live in Texas so I'm not all that familiar with Texas' Legislative makeup over the last 10 years.
Has the Texas Legislature been made up of Republicans for all that time? I know Rick Perry has been Governor so he bear some responsibility for this. But what has happened over the last 3 or 4 years as compared to the last 10?
In Washington's case, it's true President Bush ran the debt up under a Republican Congress but the debt didn't really expand dramatically until The RATS took over The House and Senate.
Not that I'm defending or excusing irresponsible Republican spending. Just looking for a little context.
Need a story on Illinois debt - where the rookie Hussein calls home.
So-o-o-o-o-o-o......bottom line.....federal debt is good because Texas's is worse?
Or Texas debt is bad and the Federal debt is awesome? What's the point?
Why is it that conservative Texans have NO conservative newspapers in this state? The Fort Worthless Star Telegram is one of the worst, but the Dallas Morning Snooze and the Houston Comical are no better. The publishers of the Austin UnAmerican Statesman could find no buyers for their liberal rag and finally had to take it off the market. All these papers pad their circulation numbers by throwing the papers for free to unsubscribers.
If conservatives called these papers and told them to keep their papers off their property and called businesses to complain about their support of these anti-Texas, pro-Democrat mouth pieces, we may get rid of some of them.
Over the same time, the national debt rose almost 234 percent, with two wars, two tax cuts and stimulus spending.
How conservative can he be if he doesn't understand that cutting taxes increases revenue?
Enough to force the closing of clinics in some areas where facilities were never reimbursed a dime.
This is what north Texans think of when you say “Rick Perry”.
His eleventh hour, half hearted, “come to Jesus” on immigration is two terms late and a million pesos short.
Is this the opening Salvo against the potential candidacy of Gov. Perry?
Texas also has 6 billion in a rainy day fund that offsets some of the debt
As far as our little Texas town goes our city charter does not allow for anything other than a balanced budget and also requires a multi-million dollar "emergency" fund. The same applies to the state which has billions in its rainy day fund. Read here.
Because of the Texas Rainy Day Fund which actually contains real money (not IOU's) the comparison here between percentages of debt owed by the federal government and debt owed by Texas is absurd. Texas is in great shape compared to the federal government. We have a positive cash flow and money in the bank. We really don't need the federal government and would indeed be better off being our own country. Or better yet, maybe Texas should just buy the rest of the country:)
This is a very silly comparison and seems to be motivated by a liberal rag who had their "editors" sit down and see if they could find something negative to print because Perry might have another office to run for.