State Rep. James White has proposed a bill that will require the leaders of Texas to start crunching the numbers and figure out what Texas would look like if it had to be self sufficient… limited or no federal support…. OUR OWN COUNTRY…. oops, I am getting a little ahead of myself, haha. Hey, I didn’t say secession but that certainly comes to mind when thinking about the federal government having a financial meltdown and cutting off most or all support to the States.
State Representative James White Files HB 568: The Texas Self Sufficiency Act
AUSTIN, TEXAS– State Representative James White has filed HB 568 or the Texas Self-Sufficiency Act. The Texas Self-Sufficiency Act creates a select committee to evaluate the effects of a possible reduction in or elimination of federal funding on the state budget due to federal fiscal policy. “Due to the fiscal dysfunction of Washington, D.C., and the fact that more than a third of our state’s budget revenue comes from the federal government, Texas needs to study what it would mean if the Federal Government couldn’t meet its obligations,” stated Representative White.
If the Feds fall apart, Texas citizens should cease sending tax dollars to the Fed, but pay to the state instead. Texas may get 1/3 of income from the Fed govt, but they do not get all the $ paid to the Feds by individuals & business back.
Interesting, Virginia is looking at having its’ own currency as a contingency plan:
Virginia is one step closer to breaking ties with the country’s monetary system.
A proposal to study whether the state should adopt its own currency is gaining traction in the state legislature from a number of lawmakers as well as conservative economists. The state House voted 65-32 earlier this week to approve the measure, and it will now go to the Senate.