These are tough times for state governments. Huge deficits loom almost everywhere, from California to New York, from New Jersey to Texas.Wait–Texas? Wasn't Texas supposed to be thriving even as the rest of America suffered? Didn't its governor declare, during his re-election campaign, that 'we have billions in surplus'? Yes, it was, and yes, he did. But reality has now intruded, in the form of a deficit expected to run as high as $25 billion over the next two years. And that reality has implications for the nation as a whole. For Texas is where the modern conservative theory of budgeting–the belief that you should never raise taxes under any circumstances, that you can always balance the budget by cutting wasteful spending–has been implemented most completely. If the theory can't make it there, it can't make it anywhere. Paul Krugman
About This Quote

The quote above is about how the conservatives think about budgets. They believe that they can balance their budgets by cutting wasteful spending and not spending more on things they don't need. However, the truth of the matter is that it doesn't work. In fact, it's a complete contradiction to prove how wrong the conservatives are on this subject. If a state government can't balance their budget because they don't spend more on things that they don't need then it shouldn't be a surprise that the rest of America can't balance their budget either.

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