Taxprof.Typepad: Red States Feed at Federal Trough, Blue States Supply the Feed"

[Baculus]

Care to compare others states debt?

I already did

lets compare NY (a very close economic match)

As of March 31, 2006 New York State had approximately $48.5 billion of total State-Funded debt. This includes $3.5 billion in General Obligation bonds and notes outstanding and an additional $45.0 billion issued and outstanding by State public authorities.

wanna guess what it is now???

In addition to this State-Funded debt, public authorities had over $80.0 billion in other debt outstanding as of December 31, 2005.

So, basically you're saying, "I don't care about my state budget as long as I can find some comparison which makes me feel better." Well, so much for your "low budget" argument, if that is the case. Because, from what I have seen, your governor ain't that much of a fiscal conservative, except when it comes to programs he doesn't like. Of course, this isn't surprising, since several of the high-profile governors or former Republican governors, such as Palin or Pawlenty, saddled their states with larger debts than it had before they began office. They like to talk a fiscally conservative game, but they don't put what they preach into practice.

By the way, are you more loyal to your state or to your governor?

BTW, as I said before, Texas used stimulus money -- you know, that federal program which you, Perry, and other conservatives opposed -- to bring down its debt and to help cover other state spending, like the educational budget.

http://money.cnn.com/2011/01/23/news/economy/texas_perry_budget_stimulus/index.htm

When you also consider the billions in federal contracts which Texas also receives, it is obvious that the state is important to the nation as the federal budget is important to Texas.

---------- Post added July-18th-2011 at 06:39 PM ----------

When NY gets a cash cow like Big Oil to continuously keep it out of the ****hole, wake me up.

Perry has done little than pass the buck onto the next legislature each 2 year session. Not sure why you love the guy so much, is all.

Yep. I mentioned this earlier, but some of the Texas state schools can't even purchase new textbooks until the 2011 school year begins since the budget was pushed into the new school year, just to avoid a higher budget and as an accounting "trick."

But hey, gotta keep the taxes low for those wealthy Texans, right?

[The Evil Genius]

Yep. I mentioned this earlier, but some of the Texas state schools can't even purchase new textbooks until the 2011 school year begins since the budget was pushed into the new school year, just to avoid a higher budget and as an accounting "trick."

But hey, gotta keep the taxes low for those wealthy Texans, right?

That might not be such a bad thing, since the textbooks they would be purchasing are the revised Tea Party approved version of US History. The one where slavery was never proven to have happened.

[The Sisko]

Interesting thread in that some seem to have missed the most obvious point, namely that the reason for the differential in Federal dollars going into certain states is in many ways irrelevant. What absolutely is undeniable though is that if we slash Federal spending in a major way, those states currently receiving the most Federal money are likely going to be hurt the most.

I realize that a lot depends on how/what gets cut, but at the end of the day if you had $X coming in and you now have less than $X coming in, your economy is going to take a hit. Moreover, this won't be just a statewide phenomenon. I expect the effect will probably be regional given that the high $$ Federal receipt states seem in many cases to be clustered together. Think of it as a reverse stimulus if you will.

Oh and twa, I hate to bust your bubble but your boy Perry is going to look awfully dumb when he doesn't win the presidency and has to go back to TX and deal with all the debt he pushed forward through the use of accounting shenanigans. Even if Obama loses, which I doubt, I certainly hope Perry doesn't win since I want to see him have to deal with the mess he's made.

[Baculus]

That might not be such a bad thing, since the textbooks they would be purchasing are the revised Tea Party approved version of US History. The one where slavery was never proven to have happened.

You have a point, amigo! :-)

[The Sisko]

I didn't realize this was a referendum against Texas. A lot of Texas hate out there.

Well last time I checked it is a Redskins message board. That might have something to do with it.

[twa]

Ya'll are amusing

If ya read my posting history I don't even like Perry

Bac you want to compare debt levels to what if not other states?....Ya wanna do countries?

Our economy is certainly bigger than most countries

Ya want to excuse it with oil when NY has massive deposits of gas....and how much was Wall Street and NY bailed out?

Texas received the second lowest amount of bailout money(per capita) and will be paying for most of ya'lls from the looks of it...and you're ****ing

[NoVaO]

One of the things that has helped Texas is they largely avoided the housing bust, and a lot of that can be traced to, surprisingly, pretty strong regulations in the housing market.

[Destino]

TWA defending Texas on a left leaning section of a Redskins forum is going to be an uphill battle. I'm not going to hate because frankly they've dropped down my list of "States we should consider trading for vacation destinations for weary Americans." Arizona leads my list currently. Plus the Mavericks did me a solid by beating the Heat so I'm inclined to extend some love to the overrated state.

[twa]

BTW - the OP topic is one that I have been harping on ad nauseum for awhile. If only my state got back what it paid in federal taxes.

There more than likely wouldn't be a state budget problem. Sigh. :doh:

you sure are hard to please....ya'll get back more than any other state

What are ya greedy?...wheres the love for the needy?

added

http://www.pe.com/localnews/opinion/editorials/stories/PE_OpEd_Opinion_W_op_10_ed_donorstate1.39469b9.html

unfairness is too simplistic an explanation for the state-federal money ratio. California has a higher median income than the national average, and state residents thus pay more in federal taxes than people elsewhere do. California also has a smaller proportion of older people than the rest of the nation, and so receives proportionately less from Medicare and Social Security -- programs which represent a sizable share of federal spending. No political maneuvering will change such demographics.

But keep the faith....the way ya'll are screwing up ya will not be a donor state long.,it will be back to mooching like ya used to do :pfft:

[techboy]

TWA defending Texas on a left leaning section of a Redskins forum is going to be an uphill battle.

Left leaning? I'm apparently Michele Bachmann's biggest supporter?

Seriously, it has been kind of fascinating to watch the Tailgate's evolution over the 8 or so years I've been here. I remember when the board was solidly conservative, and the liberals were lonely voices in the wildnerness.

Which is what I'd expect on a football message board, actually, since this should tilt demographically towards male southerners.

It's been an interesting shift.

[DRSmith]

Left leaning? I'm apparently Michele Bachmann's biggest supporter?

Seriously, it has been kind of fascinating to watch the Tailgate's evolution over the 8 or so years I've been here. I remember when the board was solidly conservative, and the liberals were lonely voices in the wildnerness.

Which is what I'd expect on a football message board, actually, since this should tilt demographically towards male southerners.

It's been an interesting shift.

Could be that people are waking up to the fact that the conservative mantra espicially on finance has done more good than bad.

I mean one could point to Texas as see how things work but apparently from an article I was reading in many cases they have to import people from other states due to lack of education in Texas

[twa]

I mean one could point to Texas as see how things work but apparently from an article I was reading in many cases they have to import people from other states due to lack of education in Texas

Yep, a sad fact of life is so many migrating here received substandard schooling in other states that additional sources must be tapped

http://www.myvisajobs.com/Reports/H1B-Visa-2011.aspx?T=WS

btw what's Cali+NY's excuse?:evilg:

but don't worry,we will learn ya kid's up right.

Texans will keep the "Open for Business" sign out. Ya'll come on in if you want to work. Just leave the liberal crap where you came from.

http://texanomics.blogspot.com/

here is ya a eye opening chart

http://2.bp.blogspot.com/_7jykVQ83dk4/TI2ttBxSFTI/AAAAAAAAAEg/oduttqZhRmc/s1600/tx+cities+as+states.jpg

Texas Metro Areas Are Creating More Jobs than Entire States

[DRSmith]

H1b is for bringing people in from other countries what I was discussing was state migration

[twa]

H1b is for bringing people in from other countries what I was discussing was state migration

so was I , the millions moving here ain't all up to snuff to fill all the extra jobs.

dare I suggest a remedial reading class?...then we can move on to critical thinking :pfft:

[DRSmith]

so was I , the millions moving here ain't all up to snuff to fill all the extra jobs.

dare I suggest a remedial reading class?...then we can move on to critical thinking :pfft:

Anytime you are going to haveconcentrated mulitnationals you are going to have a high number of visas for foriegn workerd

Oil in Texs

Tech and entertainment related Cali

Finance in NY

[twa]

you think oil is the only thing here?

http://en.wikipedia.org/wiki/Economy_of_Texas

Much economic activity in Texas is regional. For example, the timber industry is important in East Texas's economy but a non-factor elsewhere. Houston, the state's largest urban economic enclave stands at the center of the petrochemical, biomedical research trades, shipping, and aerospace (particularly NASA). Dallas/Fort Worth houses the state's predominant defense manufacturing interests and the expansive information technology labor market. West Texas and the panhandle is dominated by ranching and the petroleum industry Austin's economy is dominated by the State Government, Educational Institutions, and the booming IT Industry.

[Boss_Hogg]

Texas is a HUGE supplier for the "feed."

and BTdubs, this blog is from 2004

[DRSmith]

you think oil is the only thing here?

http://en.wikipedia.org/wiki/Economy_of_Texas

Much economic activity in Texas is regional. For example, the timber industry is important in East Texas's economy but a non-factor elsewhere. Houston, the state's largest urban economic enclave stands at the center of the petrochemical, biomedical research trades, shipping, and aerospace (particularly NASA). Dallas/Fort Worth houses the state's predominant defense manufacturing interests and the expansive information technology labor market. West Texas and the panhandle is dominated by ranching and the petroleum industry Austin's economy is dominated by the State Government, Educational Institutions, and the booming IT Industry.

Hence why many of those imported are chemical engineers and computer folks

[Predicto]

twa, you are doing a good job defending your home territory, just like you should be doing. I know what it must feel like for you to read posts about Texas that are based on knowledge no deeper than old King of the Hill episodes. I've had to do the same thing for Cali and SF over and over, and it gets aggravating.

Clearly Texas is doing SOMETHING right these days, because it is on a roll economically.

[The Evil Genius]

Clearly Texas is doing SOMETHING right these days, because it is on a roll economically.

You mean other than the $27 billion dollar budget hole they "fixed" via great accounting maneuvers such as pushing the debt into the 2013 legislative session, right?

[AsburySkinsFan]

You mean other than the $27 billion dollar budget hole they "fixed" via great accounting maneuvers such as pushing the debt into the 2013 legislative session, right?

Seriously? Link?

[The Evil Genius]

Seriously? Link?

http://sunshinereview.org/index.php/Texas_state_budget

There are other articles that are more clear about the budget shenanigans - I will have to find them though.

edit...

http://www.oaoa.com/opinion/state-68699-budget-losers.html

http://www.theledger.com/article/20110706/EDIT02/110709701?Title=Texas-Not-a-Good-Economic-Role-Model-For-Gov-Scott-Florida

http://seguingazette.com/opinion/community_columnists/article_8af0c898-9dee-11e0-9062-001cc4c002e0.html

Having been told as early as 2006 that legislation he was pushing was going to put Texas in a hole; he has done nothing to prepare for it resulting in a $27 billion dollar shortfall. Even knowing that such a shortfall was coming, he introduced as emergency measures such as sonograms prior to any abortion, a law forbidding sanctuary cities even though none existed and a resolution demanding a balanced budget at the national level. Though there have been no cases of voter fraud, he demanded that it was an emergency and that the state pass a voter I.D. law. Nothing in his charge contained requests to help the state educational system or health care for Texans — who have the highest number of uninsured people in the United States.

The truth is - other than the no-housing bubble and job creation (that came from raiding other states because Texas offered lower business taxes) - Perry and the state are just like most of the other states.

They balance their budget through accounting shenanigans - because one party consistently refuses to pay (aka raise taxes) for the services that the people have demanded.

[AsburySkinsFan]

http://sunshinereview.org/index.php/Texas_state_budget

Oh I love a good financial shell game. Now at least we know where W. Bush learned how to hide massive debt spending when he didn't make war spending part of the budget.

[Baculus]

Ya'll are amusing

If ya read my posting history I don't even like Perry

Really? I never got that impression from you, and if that's true, you don't seem critical of his policies, or at least I have never seen it. Instead, you've fallen into "defend Texas!" mode. Case in point, this post, where you still can't admit to the fiscal issues created by Perry and the state legislate while you reach for some means to put Texas into a good light. I think your Texan identity prevents you from an honest assessment of the situation.

Bac you want to compare debt levels to what if not other states?....Ya wanna do countries?

Why can't you focus on Texan issues, amigo? Because it doesn't fit your "everything is fine and good about my state" narrative?

I'm born and raised in Maryland, and I love my state, but there are certainly problems there; I admit to this because I love my state. If your family has a problem, do you ignore it or try to fix it? If you believe America's problems need to be addressed, then why don't you feel the same way about your home?

Our economy is certainly bigger than most countries

That's besides the point.

Ya want to excuse it with oil when NY has massive deposits of gas....and how much was Wall Street and NY bailed out?

'

You're deflecting the issue at hand: the Texan deficit which you claimed didn't exist.

Texas received the second lowest amount of bailout money(per capita) and will be paying for most of ya'lls from the looks of it...and you're ****ing

Well, so much for the conservative consistency. "Evil bailout! Please give us some!"

BTW, here is a quote from an article on this subject:

"Turns out Texas was the state that depended the most on those very stimulus funds to plug nearly 97% of its shortfall for fiscal 2010, according to the National Conference of State Legislatures."

http://money.cnn.com/2011/01/23/news/economy/texas_perry_budget_stimulus/?cnn=yes

But hey, as long as it's Texas, I suppose you're A-OK with this. :-)

[twa]

You mean other than the $27 billion dollar budget hole they "fixed" via great accounting maneuvers such as pushing the debt into the 2013 legislative session, right?

Maybe ya'll need to borrow some of our accountants?

you are gonna need them with the coming pension mess

debt cannot be passed forward to another legislature.

watch and we will learn who's figures and projections are correct.(like the 9 Billion rainy day fund)

Bac I gave you figures on actual state debt(which you wish to ignore)

a deficit would mean we spent more than we have,which is not the case...shortfalls in projections tend to happen over two ys....and yes we tend to shortchange projections to keep spending in check.:evilg:

Starting every budget with 0 also helps