Tax & Spend Conservatives

A funny thing on the way to state budget solvency in Texas and Mississippi, which are among the reddest of the red states. You can't get much more conservative than Texas' and Mississippi's governors, Rick Perry and Haley Barbour. The same goes for their budget solutions, which are firmly based in conservative budget orthodoxy: tax cuts and spending cuts will cure all budget ills.

So, why are Texas and Mississippi having serious budget problems? And why are their governors breaking promises about taxes and spending?