Wall Street Journal calls for budget veto
The following excerpt is from the Wall Street Journal:
During his brief campaign for President last year, Governor Rick Perry boasted that he would bring the Texas model of lean government, low taxes and pro-business policies to Washington. Now Austin is borrowing from Washingtons playbook as the Lone Star State embarks on its biggest spending spree in memory.
Call it the downside of prosperity: The Texas growth spurt has produced a near $20 billion gusher of new tax revenue, and the Republican-dominated legislature, with the support of seemingly every lobby in Austin, wants to spread the bounty. The biennial general-fund budget that awaits the Governors signature is $102 billion compared with $84 billion two years ago
Those numbers understate the blowout because $4 billion more was snatched from the states rainy day fund. Add various accounting stunts and the Texas Public Policy Foundation calculates a 26% spending increase for the biennium. A broad coalition of taxpayer and tea-party groups is urging Mr. Perry to veto.
Two years ago when the state faced a $15 deficit, Mr. Perry buried tax increase talk by signing a zero-growth budget. Mr. Perrys spokesman Rich Parsons tells us that the 26% estimated increase may be inflated because it doesnt take into account the underfunding of Medicaid and education in that 2011 budget. Mr. Parsons says that required about $7 billion of supplemental spending bills earlier this year. But even accepting this explanation, which is in dispute, the budget is still 16% higher.
The complete editorial from the
Austin American Statesman and the complete excerpt from the
Wall Street Journal are at
http://www.statesman.com/blogs/content/shared-gen/blogs/austin/firstreading/entries/2013/06/10/special_session.html/ .