BUSTED: Texas Was The #1 Stimulus Moocher

beauty texas

Photo: ap

If you’re a reader, you know that the supposed fiscal health of Texas is a huge myth, but just to emphasise the point a bit more, a new study finds that more than any other state Texas relied on Federal stimulus money to balance its budget.According to the National Congress Of State Legislatures, 97% of the state’s budget shortfall was plugged using stimulus funds — more than any other state.

Of course, there’s a reason you don’t hear about this… Texas doesn’t fit into the theme of big, bloated blue states running into trouble. So the story is just ignored.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In

moneygame-us texas