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March 09, 2010

Texas, Tricky Ricky Perry face huge budget holes

First, a deficit as high as $15 billion by 2011 can't be cured by 5 percent budget cuts. Neither, unless a lot of Texas voters are even dumber, or more hypnotized by Gov. Helmethair than I think, can the gap be filled by "fees."

So, Tricky Ricky, and Speaker Joe Straus, having to pick up after former Speaker Kid Craddick, that means either budget slashes or new taxes.

Meanwhile, showing both the stupidity and dangerousness of an every other year Legislature, the state has a shortfall of nearly $2 million in the current budget.
As for the next budget, John O'Brien, the Legislative Budget Board's director, who oversees a large staff serving 10 key lawmakers who track fiscal matters, said the shortfall will be at least $11 billion and could be as high as $15 billion.

"We have a deficit that's larger than the rainy day fund," he said, speaking of an emergency fund that he said will have slightly more than $8 billion by next session.

And, we're just six months into the current two-year budget cycle.

Will Tricky Ricky be forced to call a special session before November?

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