The volatility of the U.S. economy hasn’t been helped by Democrat and White House policies and those failed policies are hitting the Texas state budget hard – harder than estimated by the Comptroller a year ago.
Comptroller Combs has issued new numbers showing that Texas will likely have a shortfall of revenue in the current budget – this biennium. That means that the Legislature will likely have to act immediately, not on the future budget but, on the existing budget to plug the shortfall so that the state can meet its obligations. Combs now says the general revenue fund could end up with a deficit of $1.3 billion.
John Reynolds, writing in the Quorum Report, says “the appearance of red ink this fiscal biennium is a sharp turn from earlier estimates.” I’d guess that was because so many never believed this crew of Democrats in Washington would keep up their march toward full-out Socialism, most thought they’d stop spending and let the economy recover. Those people were wrong because they are among the many who refuse, due to ignorance or personal discomfort, to realize that the traditional Democrat Party is no more. That party is completely in the hands of inept, pro European-style socialists who see no problem in ending the USA’s economic dominance.
Now Texas isn’t just facing a future deficit but, a small current budget shortfall. And yet, UT, Texas Tech, public school districts, county courthouses, and more units of government keep pushing ahead with bigger budgets and more spending. Are they really any different than D.C. Democrats?
Robert Pratt is host of the top-rated Pratt on Texas radio program which can be heard at www.PrattonTexas.com