Franklin Richards
Avenger
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Texas is ranked 4th by Forbes in terms of states with the best debt position because of the relatively low amount of debt per capita. Municipal bonds are rated AA+. Texas has lower than the national average of unemployment. Texas did not take any Federal bailout cash.
No Texas is not tied with California or New York. The debt amounts to a little over $500 per person in Texas. In California it is $2,000 per person and in New York it is $3,000 per person. So an 18 billion dollar deficit in Texas is not the same as California's 28 billion dollar budget deficit in terms of per capita spending and in terms of total state debt.
No Texas is not currently one of the best states in terms of running deficits but to say it is on par with California or New York is laughably hilarious. Not to mention that these far left run places were having troubles even before the economic downturn where as these other states didn't start seeing problems until revenues decreased sharply and had to adjust.
Texas used $14 billion in federal stimulus funds to balance it's budget in 2009. The Forbes article sounds like a bunch of business propaganda to me. The way I understand it, Texas' business model is still causing the state to go into deep debt.


