We have discontinued the weekend roundup (at least for the foreseeable future).
Few people visit on the weekend, and when there’s no legislative session, most everything fits nicely in the Monday edition.
A review of Texas politics, media, and culture
We have discontinued the weekend roundup (at least for the foreseeable future).
Few people visit on the weekend, and when there’s no legislative session, most everything fits nicely in the Monday edition.
Barack Obama has been calling for immigration legislation similar to what George W. Bush sought, legislation geared to a status quo that no longer exists and seems unlikely to return. That’s going nowhere. But sooner or later we should adjust the law to address the new emerging reality.
Local borrowing accounts for almost 85 percent of public debt in Texas, because the government is so decentralized. Combine state and local borrowing, and Texas ended fiscal 2008 with $216 billion in total debt, up from $98 billion in 2001, according to census figures….
Texas doesn’t appear to be overextended. In a May report, Standard & Poor’s gave the state an AA+ rating, citing its outperforming economy, strong cash management and constitutional limits on debt.
“Texas has what we consider to be a very low net debt burden,” S&P wrote.
Anti-Perry Progressives and some journos jumped all over the headline to this piece, without really drilling into the details. Not unlike households that borrow to finance important capital investments (think home and car loans), many Texas localities have also borrowed to finance capital projects, with the approval of local voters. That’s a little different than running trillion-dollar deficits to finance federal “stimulus” and other unsustainable wealth-redistribution/entitlement programs, and as S&P notes, the Texas debt appears sustainable.
It’s also worth noting that “off the books” federal debt has actually exploded, something that Schnurman does not account for. See below.
Over the last four decades, the U.S. government has engaged in a financial experiment, or adventure, of exploding agency debt relative to Treasury securities.
The huge debt of Fannie Mae, Freddie Mac, other government-sponsored enterprises, and other off-budget government agencies (“agency debt”) fully relies on the credit of the United States. This means it by definition exposes the taxpayers to losses, but it is not accounted for as government debt. As the Federal Reserve carefully notes in its “Flow of Funds” report, non-budget agency and GSE debt is not “considered officially to be part of the total debt of the federal government.”
Not “considered officially,” as they say—but what is it really? It puts the federal budget at risk, subjecting it to uncertainty of defaults. It has proven its ability to generate huge losses for the taxpayers. In other words, it is really, if not “officially,” government debt.
David Dewhurst might be the safest bet for the U.S. Senate since former Florida Gov. Charlie Crist.
The House sometimes met for less than an hour at a time, and lawmakers’ chairs often sat empty. They even adjourned a couple of times because they lacked a quorum, meaning more than a third of the chamber was missing.
But most of them took taxpayer money to cover their housing and other expenses each day of the session.
That’s outrageous, of course, but it’s just as outrageous that various conservative priorities (such as sanctuary cities and airport anti-groping legislation) fell by the wayside because legislators dallied.
The Texas Department of Rural Affairs, the office that helps keep rural Texas communities afloat, is scheduled to close in October…
Think about the implications of that lede… as if a small government agency could actually keep a community (any community) “afloat” (as the writer put it).
“We’re really talking about women’s health,” said Regina Rogoff, CEO of People’s Community Clinic in Austin.
No, actually, we’re really talking about a conservative state deciding that it will not ask taxpayers to fund the abortion industry, directly or indirectly.
On behalf of Perry, [spokesperson Katherine] Cesinger repeated what he has said before: “Texas is not bound by a foreign court’s ruling.”
“The U.S. Supreme Court ruled in 2008 that the treaty was not binding on the states and that the president does not have the authority to order states to review cases of the then 51 foreign nationals on death row in the U.S.,” she said.
The governor was on firm constitutional ground, and no serious doubts were raised about the killer’s guilt, so it shouldn’t be surprising that he wasn’t particularly bothered.
Texas Governor Rick Perry’s close relationship with fringe figures of the religious right is likely to be an issue for [journalists] if, as looks increasingly likely, he decides to run for president. But his central role in an international incident could loom even larger [for anti-death penalty activists and journalists].
Our reworked lede is more accurate. Texas Iconoclast is happy to provide such editing services when needed.
Strangely enough, there is still plenty in the budgets of state institutions of higher learning to sponsor events like this one.
But the rise of digital media not only empowers legislators but also terrorizes them. Until recently, they had more or less been able to keep the public out of their business. Those days are over.
It’s telling to read a veteran Texas political journalist so openly lamenting the passing of an elitist Capitol political culture (because it was fun being part of the Club, no matter how detached from voter preferences the Club might be!).
I suppose readers don’t need to be told that “conservative,” when used to refer to an SBOE member, refers to someone who is more interested in fighting the culture wars than in improving education.
Is this an alleged dean of Texas political journalism or an angry Progressive blogger?
Another casualty of Perry’s war against higher ed.
It is an understatement to call this a loaded and lazy mischaracterization. One expects better from an alleged dean of Texas political journalism.