AGHouston11 said:
Florida just like Texas has had a tax revenue surplus.
In July 22 they had a surplus of 21 Billion!
However, the states debt was 24 Billion in Sept 2022.
Florida has paid down about 5 Billion under Desantis which is at least in a good direction.
But just in one year you had a 22 Billon surplus !
Only has paid down 5 billion since governor.
Republicans still like to spend money too!
Texas last year had a surplus of over 14 Billion from property taxes. Yes some of it's coming back to tax payers.
But Texas has been running a surplus for years.
Both states should be debt free .
Now we get excited if any debt even gets paid down as the bar is that low in politics.
There are some benefits to having a small and well managed debt though I agree the goal should always be to be as debt free as possible. Florida is growing FAST and has a lot of investments they are making from infrastructure to education to maintaining their significant environmental issues with areas like the Everglades that are unique to them. The key thing you see with DeSantis is a responsible governance that limits the size of government and keeps a very healthy balance sheet fiscally.
I mean you can always nitpick if you want but some of the big numbers:
GDP $1.07 Trillion
State Budget $117 Billion
Surplus $22 Billion
Total Debt $16 Billion
Interest on Debt approx $1.8 Billion
Rainy Day Fund $2.7 Billion
Emergency Response Fund (New) $500 million
One of 13 States with unanimous AAA Credit rating
Considering Florida doesn't get massive revenue from O&G and has no state income tax that's pretty incredible. Their debt is barely a blip considering their revenue and very manageable. Certainly they are in the discussion for being in the best economic health of any state. Also lead the country in small business formation.
By contrast even though Florida has surpassed New York in population in the last few years NY has a Budget of $227 Billion and a Deficit of $9 Billion that is growing. Texas is 50% larger but has a budget of $321 Billion and a Surplus of $32 Billion. Yet Florida has higher rated Education and services than either, max In State tuition is $6500 per year for instance.
Like I said, you can always find things to nitpick and DeSantis isn't perfect but a lot of people have asked about his fiscal policies and his attitude toward the economy. This is a good window into what he would like to do because he has as close to total power as you can have in one state with the time he has been in office and the majorities he has in the Legislature.
"The most terrifying words in the English language are: I'm from the government and I'm here to help."
Ronald Reagan
