"A Future that Doesn't Work"

"And that reality has implications for the nation as a whole. For Texas is where the modern conservative theory of budgeting—the belief that you should never raise taxes under any circumstances, that you can always balance the budget by cutting wasteful spending—has been implemented most completely. If the theory can’t make it there, it can’t make it anywhere."

Paul Krugman in The New York Times argues that the "Texas miracle" is a mirage.