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Wed Dec 5, 2012, 06:16 AM

State officials grapple with effects of fiscal cliff

If President Barack Obama and congressional Republicans cannot avoid tripping off the edge of the so-called fiscal cliff, then the Texas budget could be more than $1 billion short over the next two years.

But fewer federal dollars flowing through the state budget would be just part of the problem for Texas.

The state could feel an even bigger pinch because Texas is so dependent on other federal dollars associated with defense, homeland security and border protection, said Eva DeLuna Castro, senior budget analyst for Center for Public Policy Priorities.

The potential for cuts to the state budget and to direct federal spending in Texas is serious enough that state lawmakers plan a hearing on the issue next week, with testimony invited from state agency officials and others about the possible impact.

More at http://www.statesman.com/news/news/state-officials-grapple-with-effects-of-fiscal-cli/nTM3s/ .

[font color=green]It will all be President Obama's fault--of course.

The article states that $226 billion in federal money was spent in Texas during 2010 and is responsible for about 20% of the Texas economy. [/font]

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