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We can't have deficit spending in Texas. You have to balance your budget every two years.

The government deficit is the difference between the amount of money the government spends and the amount it has the nerve to collect.

States, virtually all of them, have a constitutional requirement to operate on a balanced budget.

The biggest problem with the deficit is programs that are unconstitutional and wasteful.

I've, we have in this state, like many other states, we're experiencing an enormous budget deficit that we're trying to grapple with. But we will have progress despite the deficits.

Essentially, when we run a deficit, we are borrowing money to buy things that are made overseas.

Well, a deficit reflects an imbalance between spending and revenue, and so narrowing it requires acting on one, the other or both.

In order to reduce the deficit, there has to be revenue in addition to cuts.

Unfortunately the Republican tax cut will deny important revenues to many states facing their own deficits. This will create greater pressure for higher state and local taxes.

Deficits do not in themselves produce inflation, nor does a balanced budget assure a stable price level.