These are tough times for state governments. Huge deficits loom almost everywhere, from California to New York, from New Jersey to Texas.WaitTexas? Wasn't Texas supposed to be thriving even as the rest of America suffered? Didn't its governor declare, during his re-election campaign, that 'we have billions in surplus'? Yes, it was, and yes, he did. But reality has now intruded, in the form of a deficit expected to run as high as $25 billion over the next two years.And that reality has implications for the nation as a whole. For Texas is where the modern conservative theory of budgetingthe belief that you should never raise taxes under any circumstances, that you can always balance the budget by cutting wasteful spendinghas been implemented most completely. If the theory can't make it there, it can't make it anywhere.
2010
2011
balanced-budget
budgets
california
deficit-spending
economics
economy-of-california
economy-of-new-jersey
economy-of-new-york
economy-of-texas
economy-of-the-united-states
financial-crisis-of-2007-2011
governor-of-texas
new-jersey
new-york
politics
rick-perry
state-governments-of-the-us
taxes
texas
texas-elections-2010
united-states
united-states-elections-2010