Yes, Texas has problems with its deficits. However, people aren't fleeing like they are from California and New York. Again, the thesis I presented was on Democrat controlled cites. Which has proven out as no evidence to the contrary was ever presented.
translation.. the "reddest , red state" has all the financial woes of a "liberal controlled city", but the people aren't leaving so, it's different. yep, it's different. it's different because the "liberal run cities" are bankrupt because the people left the cities. the "conservative controlled state" of texas is going broke because of bad financial policies. thanks for helping me prove my point. you must have been one pitiful accountant.
You are so far removed from reality, its amusing. The Democrat ruled cities ran off business and its population by their irresponsible administration. Not, because everyone packed up their station wagons and headed for the gold fields.
Now, as to magnitude of debt. Yes, Texas with a $25 billion debt does approximate the debt of a Democrat city in bankruptcy proceeding -- namely Detroit with its $17 billion debt.
Now, let's look at two Democrat ruled states of similar size and economy to Texas -- California and New York.
"New York agencies amass $244 billion debt
In a new report from state Controller Thomas DiNapoli, the whopping new total is up from $214.6 billion in 2010 and averages out to about $3,000 per New Yorker."
"Report: California state debt rises to $617 billion
Published: Tuesday, Aug. 28, 2012 - 10:20 am"
Read more here: http://www.sacbee.com/2012/08/...s.html#storylink=cpy
Got that! New York state has a debt about 10 times that of Texas -- 10 times!
California has a state debt about 25 times the debt of Texas -- 25 times!
Add. that people and businesses are leaving both states. And, people and businesses are flowing into Texas. Texas has a city sized problem New York and California have problems of a second world nation size.
Ever been to upstate New York, its like a rural version of Detroit.