TPM: "There's One Huge State Budget Crisis That Everyone is Refusing to Talk...

[YvonneCa]

...About"


http://tpmlivewire.talkingpointsmemo.com/2011/01/theres-one-huge-state-budget-crisis-that-everyone-is-refusing-to-talk-about.php


Excerpt: You know the story and you know the names: states like Illinois, New Jersey, New York, and California are supposed to be in huge financial trouble thanks to bloated governments, business-unfriendly regulations, and strong public sector unions.

After a crisis-free 2010, investors are expected to punish these hotbeds of bad governance in a muni bond market rout, at least if pundits like Meredith Whitney are correct.

But there's one state, which is fairly high up on the list of troubled states that nobody is talking about, and there's a reason for it.

The state is Texas.




Original story: http://www.businessinsider.com/texas-state-budget-crisis-2011-1

[RUMMYisFROSTED]

1. ...and FL, MS, AK, NC, SC, OK...etc...

:think:

[zipplewrath]

2. One bad hurricane away

Florida is one bad hurricane away from a total fiscal meltdown. The government is on the hook for so much property damage that it will bankrupt the state in a day.

[frazzled]

3. I so want the Texas story to go viral

Texas is our Ireland. Without the green valleys and good ale.

[HereSince1628]

7. But, but, Shiner Bock makes up for the lack of ale!

Still, not a Guiness, but it is a good beer.

[YvonneCa]

8. Good idea. n/t

[tabatha]

4. Did not Meg Whitman claim Texas as a good example?

[Hell Hath No Fury]

5. Interesting what this person calls "problems" --

"...bloated governments, business-unfriendly regulations, and strong public sector unions."

Here in CA our problem is too many of us fucking refuse to up the taxes to pay for what we need. My cousin used to head San Diego's landscaping department -- he was responsible for maintaining all the public parks/spaces in the city. San Diegans wanted their beautiful parks but never wanted to actually pay for them. Over the years he had to make do with fewer and fewer resources, both material and labor, yet had to maintain a very high level of quality.

[blogslut]

9. I think you miss the point of the article

Those 'problems' you cite are conservative buzzword talking points. The article goes on to explain that Texas is a state whose economy is in trouble despite being free of these mythical problems.

[femrap]

6. Meredith Whitney is far

from being a pundit. She's an economist and has done a great job forecasting.