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Sovereign Wealth Funds Briefing - Categorized | Market

Texas should use Rainy Day Fund

Posted on 11 March 2011

From Katytimes.com: It’s raining. Texas is currently facing a $27 billion budget deficit and a $15 billion revenue shortfall. Significant budget cuts are being made regardless of the legislature’s consideration for use of the Rainy Day Fund.
General revenue will see a $9.2 billion reduction, or 10.4 percent. In terms of all funds, which include federal funds, the proposed budget is reduced by $31.1 billion, or 16.6 percent……………………………………….Full Article: Source


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