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And all the talk we have a fiscal -- in debt ceilings is a pretty big turnaround for many state budget somehow or even running surpluses which -- a a far cry from what we saw just a few years ago and we have season comes here the controller from the state of Texas here.
The New -- in studio with this concealment thank you for coming in thank you conflicts for having me how hard things in Texas.
Texas is doing great we have about eight point eight eight billion dollar surplus which will show at the end of this summer we expect to have a rainy day fund.
To have about eleven point two billion dollars in head and of all the jobs we lost we were captured all of them plus another 250000.
The funny thing those are pretty good numbers the funny thing about states that people sometimes forget is that -- -- you have to balance your budget unlike -- the federal.
Outside of things -- -- requirements to do so let me show you some numbers here what should explain them the from the Center on Budget and Policy Priorities projecting budget gaps.
For fiscal year 2013.
And it looks like -- these numbers as -- nine billion dollar.
GAAP projected California's higher than that but.
How does that reconcile with what you just told me.
Well that's not gonna happen because yesterday the -- appropriations bill came out is within available revenues.
There is no short -- no gap and I attribute that to sound public policies -- Honda financing ended and a great job such asked cutting.
For the -- -- -- rising taxes right they did not raise taxes or cut a lot less nation and in addition we having very business family atmosphere.
If you come the -- we won't pull the rug out from under your feet and when you're welcome how.
-- -- Interest and kind of concept we've done a few stories on -- where business this sometimes individuals sometimes.
Larger businesses are leaving some states -- to others mostly because if taxes how.
Much of that DC and Texas and in what industries is really predominant.
I see number one effect we don't have an income tax is -- powerful magnet people move secondly our regulatory climate is very fair number three.
And they don't expect us to go -- spend beyond your means so when he -- They come here for the business atmosphere and because of the low cost of living and because we like -- -- you -- Of course friendly place Texas now the idea of getting to the numbers that you talked about -- the first part of the interview.
And getting through the projections that this.
Particular group put out that I mentioned put on the screen a moment ago -- nine billion dollar gap.
How do you get there where the cuts come from our -- of regular people getting hurt and services not the error.
That number I don't know where that number came because what's going to happen is that there's going to be a supplemental appropriations bill which we filed in a few weeks trying to build fill in some of the Medicaid that they don't have that's.
Innovate that's already available in two sources available any -- India surplus and is available rainy day fund so all that will be taken care.
Even in California things we've done and a lot I think it's been said about this last couple weeks are getting better because there's so many stories about California's problems the last few years but it of their lessons.
-- -- just not this is just not an apples to apples comparison that we can take for this national debate that were happened what we're seeing it in states Texas and others.
I think the lesson is that we learned we lost her shirt in the eighties and we went -- diversified economy we stash cash we decided we would be business friendly those three things -- Held us goods that we also did not heavy sub prime mortgage we did not have housing fall.
And and I -- unemployment never got better foreclosures were never really got serious -- We can't people of their homes -- kept working Susan comes in from Texas to New York so real enjoy the rest your -- thanks sent to talk today thanks thanks so much --
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