Like anyone who runs their credit cards to the limit and is shocked by the bills, Texas legislative leaders are uneasily confronting a new threat to the state’s fiscal health: Bond debt that has more than doubled in the past decade.
And the cost of paying off that debt has jumped more than 225 percent, taking a bigger bite out of state revenues each year and leaving less for schools, highways, law enforcement and health care, as the state’s budget has increased just 38 percent.
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