The state of Texas is about to face a budget crisis. It is projected that the budget deficit will be around $21 billion. Even though budget is one of the most important documents, Governor Rick Perry and Bill White have not been clear about how they plan to tackle this crisis.
The editorial points out that only a sense of shared responsibility will balance the budget. That involves spending cuts, tax adjustments and tapping the Rainy Day Fund. It says this third-third-third strategy is the most equitable approach. Democrats may say that we can do this without spending cuts. Republicans may suggest that we can do this only with spending cuts. But both points of view alone will not be sufficient. Best solution would be to cut some spending with out gutting education and health funds, close some exemptions to the sales tax, and tap some funds from the Rainy Day Fund.
I think this article is worth reading because the budget is an important document that determines how much money will be available for our education, law enforcement, fire protection and several other services. Most important it determines how much money we will pay in taxes and fees.
