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Texas' State Budget Crisis Looms Larger: Rainy Day Fund $1 Billion Less Than Expected

—Burnt Orange Report

From the Statesman:

Texas’ piggy bank will be almost $1 billion lighter than expected, according to a report released last week by Texas Comptroller Susan Combs. Combs revised her estimate for the so-called rainy day fund to $8.2 billion, down from her January projection [...]

Posted: November 30, 2009, 4:40pm EST

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The budget mess that awaits the next Governor

—Off the Kuff

We already know that the next Legislative session will be a whole lot of no fun thanks to declining revenue estimates and our structural deficits. Here’s a further illustration of the problem.

The current state budget is financed with $12 billion of one-time money (add to the stimulus money [...]

Posted: November 25, 2009, 5:15am EST
by Charles Kuffner

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Indiana Gov. Mitch Daniels goes Libertarian: Orders 10% Cut for State Agencies

—Libertarian Republican

From Eric Dondero:

With a potential state budget defecit looming, Indiana's Republican Governor Mitch Daniels has chosen to take the libertarian route of budget cuts, rather than the liberal-to-moderate course of raising taxes.

Via NewsMax:

Among other things, Daniels has ordered agencies [...]

Posted: November 07, 2009, 6:00am EST

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