The two states are projected to be almost equal in their budget deficits for next year. Dave Mann at the Texas Observer makes some necessary caveats in his comparison (mostly in Texas’s favor), but the figures are eerily similar: California, $19.1 billion. Texas, $18 billion. Of course, Texas will have recourse to $9 billion in its rainy day fund. But when the rainy day fund is gone, what happens when it rains? (H/t to the FrontBurnervian — a Republican — who pointed me to the link.)
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