On Unfunded Liabilities

While there is much talk in the Texas media about the budget shortfall of $21 billion. I think the more important issue is the unfunded liability of $193 billion (and rising every year.) This is according to the National Center for Policy Analysis, Policy Report No. 329 by Courtney Collins and Andrew J. Rettenmaier, published July 2010.

I am no math whiz but this means that every child born in the state of Texas this year is already in debt to the tune of $7,720. Texas is in the middle of the pack compared to other states, but we are quickly headed in the direction of California where this has become the biggest problem plaguing the Golden State.

It is so bad the even Democrats such as Willie Brown are beginning to rethink what needs to be done. Why? Because it is impacting their ability to get other progressive laws passed.

If I do nothing in this campaign but continue to bring this to the attention of Texans, my campaign will be a success. When this becomes an issue about five years hence, please remember you read it hear first.

Here is a video about the problem in California from reason.tv.