Monday Is Going To Be A Huge Day For The Muni Debt Crisis Debate


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According to Forrest Wilder at The Texas Observer, on Monday the Texas Comptroller will unveil its revenue estimate for the forthcoming budget session.The subject of the Texas budget has become a national sensation ever since we wrote about the story last week. Paul Krugman followed up on our piece, and since then the debate has fallen down across predictable partisan lines, with liberals claiming that Texas shows the fallacy of low-tax, low-spending GOP nirvanas, and conservatives claiming that Texas’ budget problems are way overblown.

Some suspect that the budget shortfall could be as bad as $25 billion per year, while others think it will just be a few billion spread out over two years.

Between that and the imminent California budget, Monday should be a huge day for muni watchers.

Click here to see the 15 states with the biggest budget gaps >

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