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Top of the morning

Post on July 14, 2011 by 2 Comments »

In almost every debate about North Carolina’s fiscal problems or tax policy, the folks on the Right always point to Texas as a state that is managing its budget the right way, or at least their way. 

But it turns out state debt in Texas is rising faster than the debt of the federal government they loathe. Is that their plan for North Carolina?

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Comments (Closed):2

  1. Bruce
    July 14, 2011 at 8:49 am

    Wow, shading the whole story is not flattering to you. From the very article you cite:

    “That’s not a bad thing, if everybody can handle the debt service and spend the money prudently. Texas’ population grew almost twice as fast as the nation’s in the past decade, so it needs new highways, schools, prisons and more. Local borrowing accounts for almost 85 percent of public debt in Texas, because the government is so decentralized. Combine state and local borrowing, and Texas ended fiscal 2008 with $216 billion in total debt, up from $98 billion in 2001, according to census figures. (The latest census data for local debt is 2008.)”

    So if 85 percent of the borrowing is by local governments, how is that Gov. Perry’s responsibility. Oh, don’t forget, they can pay the bonds off.

  2. JeffS
    July 14, 2011 at 10:47 am

    Republicans have never had a problem with debt. Anyone who doesn’t laugh in their face when they pretend to care about it now is a fool.

    As we should all know (the Republicans certainly know it) the current spending “attack” is nothing more than policy attack. If they agree with Texas spending, it’s because they agree with WHAT they are spending it on. From what I can tell, Texas is leading the race to the bottom. Less education, more religion to keep the working-class schlubs in line.