You have, I am sure, heard the “good news – bad news” jokes. Well, here’s the bad news. The budget recently adopted for the State of Texas is a disaster for our state. Unfortunately, there is no good news – and that is not the worst of it. Because of the gigantic hole being dug by this budget, the next budget is going to be exponentially worse.
You have probably been under the impression that Texas is a “pay as you go” state. That is, the Texas constitution prohibits deficit spending, and we are therefore required to have a balanced budget. Well, you may be surprised to learn that we are currently circumventing the Texas constitutional “pay as you go” provision to the tune of billions of dollars.
Our state leaders are reporting to the citizens of Texas, “We balanced our budget by prioritizing and reducing spending without raising taxes”. Let’s examine this statement and I will let you decide whether it is an
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