State Lawmakers Looking At Bleak Budget

When the session opens this morning in the Texas state legislature, Lawmakers will be taking a look at the bleak budget.  For the next two years, they'll have a little more than $72 billion to work with.  That number reflects the state budget shortfall of $15 billion.  According to State Comptroller Susan Combs, if lawmakers maintain current spending levels, the shortfall could be as high as $27 billion.

Governor Rick Perry is downplaying the state's fiscal woes, saying this isn't the end of the world, but instead reality.