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Trivia Tidbit of the Day: Part 732 -- The Texas Debt Level Is Low.

Debt Low In Texas-

Despite what you may have heard from Senator Kay Bailey Hutchison and/or the other lady running for Governor, Texas is actually a great place to work, start a business, or otherwise engage in commerce.

Government debt is extremely low in Texas. In fact, the "bad" kind of government debt-- non-self-supporting debt-- has decreased by 16% (from $3.4 to $2.85 billion) in Texas over the past ten years.

Yes, you read that right: "bad" government debt in Texas has decreased substantially over the past decade. Moody's also upgraded Texas to its highest ever bond rating (AA+) this year.

That tends to happen when a state government keeps spending growth roughly in line with population growth plus inflation, as is the case in Texas over the past several years.

Forbes ranked the states on their debt levels, and it is really not surprising at all that the best states tend to be low tax "red" states, and the worst states tend to be high tax "blue" states. Texas ranked 4th best on the debt scorecard, and #1 among the ten largest states:

Forbes also has this interactive scorecard one can click around on to see more state government debt data:

Texas has one of the best debt levels in the entire country, so when you hear certain negative politicians cherrypick stats or distort the figures, think about what else they must be misleading voters about.

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Posted by Will Franklin · 26 January 2010 10:10 AM

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