Friday, January 29, 2010

Longhorn Budget under Perry's Butcher Knife

The Houston Chronicle reported:

The University of Texas is putting together a proposal for a 5 percent cut that could trim about $29 million from the state-funded portion of its budget.

It seems UT could use most of the $35 million owed to Texas taxpayers by Vought Aircraft Industries, an affiliate of The Carlyle Group. Vought failed to provide 3,000 new jobs at its Dallas area facilities by 2009.

Governor Rick Perry amended the agreement with Vought and another Carlyle affiliate, Authentix. He failed to provide details on the changes. Texas taxpayers deserve $35 million with interest, based on Vought's miserable performance under the Texas Enterprise Fund grant. Vought eliminated 35 full time jobs from 2004-2009. Perry gave the company $1 million per job lost.