Rick Perry's Balanced-Budget Illusion

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Jim Schutze:

…if you want to know what a state really owes, you have to add up all of what it owes to its own pension funds and other public obligations, as well as gimmicks like the ones reported in the Star-Telegram. When you do that for Texas, we’re in the top five debtor states in the country with California, New York, New Jersey and Illinois. We’re actually in 48th place – with California in 50th as the most debt-ridden. Our debt per capita ranking is not great – 29th place.

And Perry’s holding this up as a model of a well balanced budget? Remind me again, why we didn’t tell him to “Adios, mofo” in the last gubernatorial election.

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