‘texas debt growing at faster rate than federal government’s’

Think Progress: For all his talk of fiscal conservationism on the national stage, Texas Gov. Rick Perry hasn’t been so parsimonious at home, where his state is racking up debt at a faster rate than the national government and in greater amounts than most other states.

Perry regularly attacks President Obama for engaging in “too much spending” and running up too much debt, but as the Fort Worth Star-Telegram’s Mitchell Schnurman writes today, Texas’ refusal to raise taxes has led to its own debt ballooning faster than Washington’s:

From 2001 to 2010, state debt alone grew from $13.4 billion to $37.8 billion, according to the Texas Bond Review Board. That’s an increase of 281 percent. Over the same time, the national debt rose almost 234 percent…

…..While Texas lawmakers have refused to raise taxes – and often criticize Washington for borrowing and spending – the state has been paying for much of its expansion with borrowed money.

…..as Schnurman points out, Texas didn’t have two wars, the budget-busting Bush tax cuts, recession-combating measurs, and other big-ticket national expenditures. And Texas’ “borrowing isn’t slowing.”

The state’s debt belies Perry’s boisterous rhetoric on his economic stewardship.  …. Texas’ obstinate refusal to raise taxes helped create the largest budget shortfall in the state’s history, leading to devastating cuts to government services – one town had to lay off its entire police force – and Perry using budget gimmicks and federal stimulus dollars to balance his budget.

Full post here

Thanks Fred

18 Responses to “‘texas debt growing at faster rate than federal government’s’”

  1. 1 tally
    July 13, 2011 at 5:03 pm

    Cut taxes enough and you end up like Somalia.

  2. 2 Fred
    July 13, 2011 at 5:04 pm

    welcome Chip 😉

  3. 3 lisalovesobama
    July 13, 2011 at 5:08 pm

    thought I’d give Tweety a look see. He’s showing a clip of Joe Walsh calling PBO a liar, saying that there is a lot of money in the treasury to cover ALL SS checks. Also said “shame on you [about PBO]….in 3 years you’ve” –think he said destroyed this country and turned it into a European wasteland. What a dumb fuck. WHere was he when his vaunted leaders Bonehead and Turtle admitted that the debt ceiling were to be raised? Oops! Sorry, he’s a tea party pea brain. His sainted leader is Little Lord Pompous Ass. Idiots. Can’t wait to get them the fuck outta congress. Nov 2010 was a disgusting exercise in stupidity.

    • 4 utaustinliberal
      July 13, 2011 at 5:35 pm

      Oh yeah I saw that. Rep Joe Walsh (R) from Illinois is a pompous blowhard and a liar. He just wanted to stir up controversy to get airtime on the talk shows. Illinois is going for PBO and they can’t handle it. The other idiot was Rep Steve King (R) from Iowa I believe, who said that he does not read or care about what economists and the international market says about the debt ceiling. He firmly believes that if we don’t raise it we’ll be just dandy because the government has money it’s been hiding and can whip it out and pay benefits and run business as usual. He told Chris that his mind tells him expert things and provides him expert data; so he doesn’t need to listen to people who actually study the economy for a living. Chris told him to mention the name of the expert who lives in his mind, telling him not to raise the debt ceiling and the guy looked dumbfounded and then he started blathering nonsense like a buffoon. Chris chewed him out! It was wonderful. Chris kept asking him “Tell me the name of one expert who resides in your mind and says we don’t need to raise the debt ceiling. Tell me Congressman!!!!” Dude couldn’t mention one name 😆 😆 😆 I laughed my head off!. Dumbass.

      As for Rick Perry, *sigh* Austin and Houston are the only cities that help me retain my sanity. There are actually people there who fought hard to elect Mayor Bill White of Houston as Governor of Texas. We’ll clinch it next time. It pisses me off that while we’re under huge debt in TX, this fool took federal money meant for education to plug up holes and pay his rich buddies. He’s planning on cutting $5 billion from various segments of education, trying to defund planned parenthood, trying to cut funds from Medicaid, trying to pass dumb racist immigration laws, trying to outlaw sex education in schools, trying to cut off research funding for universities. It’s a bitch being a college student in TX with your education funds hanging on the whim of the republican controlled legislature. Thank God for the state dems who have been using every procedural tool in the playbook to block a lot of these egregious bills or I would have lost my damn mind. I just wish he would run so we could get him out of office. Enough is enough. We’ve been protesting at the Capitol and making sure they hear our voices. It’s just going to be one hard step at a time for progress to prevail; but we will prevail. Senator Kay Bailey Hutchinson is retiring and we have a shot at getting a Latino democrat in that seat and with Rep Ron Paul retiring to run for President we have a shot at gaining another seat for the dems in 2012. Everyday I do like the President says and KEEP HOPE ALIVE.

      • 5 Brian
        July 13, 2011 at 5:47 pm

        I still miss Ann Richards.

      • 7 Dorothy Rissman
        July 13, 2011 at 5:49 pm

        Holy Carp. At first I thought lisa was saying that Tweety called Obama a liar. Phew! Good for Chris. I am waiting to see what Lawrence does tonight. He has been on fire telling the truth about what a “genius” PBO is. I hear Al is going to take Cenk’s place for the next two weeks.

        I think everyone should write msnbc and tell them we want Al. Al is the man. We will watch Al. If that little faker Hayes gets the spot, I will be furious.

      • 8 lisalovesobama
        July 13, 2011 at 6:11 pm

        re Dick Perry. The other day i heard that there is bad blood between former president Baboon and current Texas Gov Buffoon. I was also talking to someone who speculated that Wall Street would probably be more interested in backing Perry the Buffoon-if he announce- than Professional Flipster Mittens cause the former is a dummy and easily led. Perry, in my honest opinion is much dumber than Bush. I mean much dumber. A couple months ago, I went home for a quick visit with my parents and one day I was bored so I started reading through my dad’s Newsweek magazines. One article was by a woman who’s title was basically that her 8 yo nice was smarter than Perry. I think she listed 7-10 issues that Perry had made a stand on and then she formulated questions from the context of these issues and asked her niece what she would do if she were ever confronted with these issues i.e: the wildfires in texas- “what would you do” and her niece answered the questions a million times better than Perry ever did or said. It was hilarious! I was dying with laughter. I went to Newsweek and tried to find the article on line but couldn’t. Damn. That article was hilarious.

      • 9 nathkatun7
        July 13, 2011 at 10:31 pm

        To avoid raising my blood pressure I’ve scrupulously avoided watching television news. I still read newspapers to keep informed. But from what you guys are reporting these insane congressmen the country is in for big trouble. If these two congressman are a sample of what is happening in Congress, we are honestly doomed. Joe Walsh and Steve King are insane if they think they can make laws about the economy without, at least, having some rudimentary knowledge about how the economy operates. Obviously they are consumed with hatred of President Obama; but do they have to destroy the country in order to deny him a second term? The majority of people voted for President Obama. He won in an electoral landslide. Why can’t they come to terms with that reality? They talk about freedom and democracy but they try to undermine the legitimacy of a democratically elected President. And these people have the audacity to call themselves patriots?

        By the way, UT, I truly admire your courage and tenacity as well as the courage of Texans from Austin and Houston. As you can see, Texas has no monopoly on the crazies. We have our share of them right here in California; just as they do in Illinois, Iowa and the other so called blue states. It’s just that in the blue states the sane people tend to outnumber the crazies.

  4. 10 carolyn
    July 13, 2011 at 5:16 pm

    Guys like Walsh need to get out more! Europe is not a wasteland….Texas is becoming a great wasteland thanks to Perry and the Republican legislature. Drive through it! We have to when we visit our children…..

  5. 11 HZ
    July 13, 2011 at 5:24 pm

    Rep. Walsh teabagger is insane. He is always showing his hateful face on tv bashing the President. He has complete disrepect for President Barack Obama. These people must think that we are low-information who feed on their hatefulness daily. We do not need disgusting and stupid people like this taking care of our business in DC. We will clean up what happened in 2010 for sure in 2012.

    • 12 Dorothy Rissman
      July 13, 2011 at 5:50 pm

      HZ, I think because they know so little and are so ignorant about so many things, they figure we have to be too. Idiots is what they are.

      • 13 Brian
        July 13, 2011 at 6:06 pm

        I don’t remember a time when Congress had so many idiots so willing to let their idiocy be known. Like Walsh and Schock from my state, and of course, Bachmann, Gohmert, the Kings, the Sessions… The Audacity of Dopes.

  6. 14 desertflower
    July 13, 2011 at 5:51 pm

    Yea, Ricky..Teabagger Extraordinaire…wrecker of budgets, jump on into the Presidential race! Everything’s bigger and better in Texas..including it’s debt! What a joke.

  7. 15 gd4obama
    July 13, 2011 at 8:50 pm

    And people want him to run for president? Please.

  8. 16 gd4obama
    July 13, 2011 at 9:08 pm

    Mr Secessionist likes to rail against big “gubmint”…..except when he needs it. Hypocrite.

  9. July 13, 2011 at 10:44 pm

    They growin “EVERYTHING”big in Tahas!Including that sixteen pund baby!Watz up?Gov.Perry,why can’t you pray that away too!Remember this, the Lord don’t like ugly!

  10. 18 nathkatun7
    July 13, 2011 at 11:20 pm

    Lately, I’ve been reflecting on an essay written as a parable, in the 1930’s, by W.E.B. DuBois, one of the great scholars of the twentieth century. DuBois wondered what would happen to Jesus Christ if he showed up in Georgia as a dark man, wearing robes similar to the robes worn by people from the middle east. I can’t get hold of the essay and the actual title of the essay escapes me. But If my old memory serves me right he titled it “Jesus Christ in Georgia.” Basically DuBois believed that if the real Jesus Christ showed up in the 1930’s Georgia the majority of white people would still reject him and he would be subjected to the same Jim Crow practices inflicted on non white people. While the majority of Americans have increasingly become non racist, the question raised by W.E.B. DuBois in the 1930’s, is still valid to day so far as the right wing fundamentalists, teabggers and Republicans are concerned. If they can reject a duly democratically elected President, simply because he is black, how can we be sure that they won’t reject Jesus in case he turns out to be be black or as dark as middle easterners?

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