Texas could see more than 600,000 jobs disappear if lawmakers adopt the $83.8 billion budget that will go before the state House late next week, according to a state agency.
Harsh spending cuts in the budget could cost more than 263,500 private sector jobs and 343,000 government positions over the next two years, according to estimates released Wednesday by the Legislative Budget Board, a bipartisan committee.
The budget cuts will also impact education, health, and social service spending.
The governor of Texas had this to say:
Perry, a Republican, said the government must cultivate a favorable climate for job creation. That includes balancing the budget without raising taxes.
So, to create jobs, he has to eliminate hundreds of thousands of jobs. The logic escapes me. Ensuring that there are fewer taxpayers is helpful....how? Ensuring less education, and more poverty is enticing to business....how?
The Texas business community is already concerned about poverty and a high drop out rate in the state. From the Houston Chronicle:
The demographer who warned a decade ago about Texas' unhappy mix of dismal education achievement and high poverty is more concerned than ever. Actually, he's frightened.
Also getting restless are growing numbers of Texas business executives. Some don't see much leadership from politicians or the private sector in attacking the trend line that demographer Steve Murdock says will result in three of every 10 workers not having a high school education by 2040.
The "cut revenue, cut spending" solution for budget balancing is popular in certain circles right now, and may indeed endear Governor Perry to a small segment of his constituents. He seems interested in seeking higher office, and this may help him get campaign funding. But for anyone actually looking to the future, this seems like a disaster in the making.
cross-posted at MainSt/workingamerica.org