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January 07, 2013

Texas Slashes Spending and Somehow Their Revenues From Taxation Go Up

As we keep saying: We have a problem spending too much money, not collecting too little of our citizens' hard-won dollars in taxes.

Texas slashed spending and is collecting even more in taxes.

I don't know if this is a record for Texas, but it could be. 2011's take was about $72 billion so I it's either at a record level or near-record.

Lawmakers don't have to spend all the money Combs says is available - and chances are they probably won't. Gov. Rick Perry and Lt. Gov. David Dewhurst have promised to limit any increase in state spending to a sum of population growth plus inflation, or 9.85 percent.

Texas' economy is humming again after lawmakers in 2011 wrote a cut-to-the-bone budget as the nation lurched out of the Great Recession.

Imagine that.

Let's everyone ignore the fact that economies grow when public spending is kept to a minimum (but still historically generous level) and let's just keep agitating to spend trillions and trillions on bullshit and mint some gimmick $1 trillion coins.


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posted by Ace at 04:51 PM

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