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In the late 1980s the Texas legislature started the State Economic Equalization fund, designed to carry the state though tough times. Funded when oil and gas revenues were high, the cache now has around $9 billion in it. Should we use it now?
Will legislature solve economic problems with "rainy day fund"?
Seeded on Mon Jan 19, 2009 2:19 PM EST
Article Source: News-Journal- Enjoy this article? Help vote it up the 'Vine.
- Public Discussion (1)
Dipping into the Rainy Day Fund should be viewed as a last-ditch move. For one thing, the Rainy Day Fund is kind of like an IRA fund. You can't tap the funds without penalty. If Texas scales back its operations, it should be ok.
#1 - Mon Jan 19, 2009 9:09 PM ESTYou're in Easy Mode. If you prefer, you can use XHTML Mode instead. |
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