Cool graphic with state by state unemployment, budget, foreclosure rates.

[YoungGun21]

Originally posted by: Ocguy31

Originally posted by: YoungGun21
So IL is getting our asses kicked, but I think we have an alright excuse, because our government is one of the most corrupt ever

Fixed that for you. Except that is not a valid excuse, because you vote for them.

Dont some counties have sales tax in the 10%+ range?

Maybe up in the Chicago area but down here in central its all under 7%.

 

[Wreckem]

Originally posted by: Insomniator
I just don't understand economics. How the hell can one state be, or even be allowed to get to 14 billion in debt when an equally huge state like texas is even?

Why do we need California again?

Texas has a constitutional amendment requiring the legislature to maintain a balanced budget.

There is only one time Texas has run a budget defict and that was 2001-2002, because Pretty Boy Perry didnt call a special session after Sept 11 to readjust the newly passed biannual budget. Massive cuts were made in the 2003-2004 budget to make up for the debt.

The downside is Texas ranks pretty low on when it comes to healthcare for children, education, etc.

 

[Wreckem]

Originally posted by: heyheybooboo

Originally posted by: CrackRabbit

Originally posted by: Insomniator
I just don't understand economics. How the hell can one state be, or even be allowed to get to 14 billion in debt when an equally huge state like texas is even?

Why do we need California again?

State laws, basically Texas' laws require the state to have a balanced budget every year. Or the state shuts down until it is balanced.
From what I understand California has no such law.

I believe every state has a balanced budget requirement.

And if you plow through some of these reports I think you will find that Federal funding of Texas secondary and higher education has increased in the last 7 years approximately 70% (the highest increase in the nation).

I would guess that comes to a screeching halt in the next Federal budget.

You point out the increase, but fail to mention the spending is in line with the other two large states, NY and Cali. The spending you linked to shows Texas finally over taking NY, and substantially behind Cali. Texas will be picking up 3-4 House Seats, while NY and Cali will be losing 1 each after the 2010 census. I dont forsee things changing to much.

Also very few states have constitutional amendments requireing balanced budgets. A mere law is often overridden.