Gov. Abbott sets right tone on rainy day fund

Robert Pratt photo Copyright Pratt on Texas

Robert Pratt

“As it concerns our budget, Texans know how to live within their means. No less should be expected from their government,” said Governor Greg Abbott in his State of the State address to the legislators of the 85th Session.

Abbott said: “Just as families have to balance needs versus wants, so must we. That process doesn’t start with the next budget. It starts now.

“We must cut spending in our current biennium to ensure we live within our budget. To accomplish that, I am today directing state agencies to impose an immediate hiring freeze through the end of August. This should free up about $200 million in our current budget.

“And in the next biennium, I’m confident we can balance the budget without looting the Rainy Day Fund,” the governor concluded.

Rep. Darby said the state’s savings account is like “the sacred cow that seems to be untouchable,” and suggested the money might as well be stuffed in a mattress.

We don’t know what the final budget will look like for the next biennium but we do know that it won’t be a spend more affair given the official revenue estimate from Comptroller Hegar. One thing we do know is that all of the Democrats and some liberal Republicans are pushing the idea of raiding the Economic Stabilization Fund, or Rainy Day Fund, to increase spending.

San Angelo’s state representative and fake Republican Drew Darby joined his voice with Democrats to say we should tap into our emergency savings to grow spending. “Darby said the state’s savings account is like “the sacred cow that seems to be untouchable,” and suggested the money might as well be stuffed in a mattress,” according to Nexstar Broadcasting.

It’s good that Governor Abbott, who wields a line-item veto pen, made it clear in his speech that he doesn’t want the fund raided but instead wants spending to line up with revenue.

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