Comptroller warns about overextending on public debt

The woman in charge of public accounts in Texas says voters need to do more research on public debt, or "bond" projects before headed to the ballot box.  Susan Combs, the State Comptroller, also is urging public leaders to be more fiscally prudent with projects to put before voters.

She says Texas is #2 in the United States, in the ten most populous, next to New York, in the local debt on the books. She says Texas has $7,983 per person, as of 2009, while New York was $8,700.

"Right now, the 15-trillion coming out of Washington is a $44,000 per man, woman and child irrespective of whether you pay taxes or not, in the United States.  We already owe that," she said.

Combs cautions muncipalities by saying if we're not careful, thoughtful, prudent, innovative and smart about acquiring debt, it's going to be difficult.

(Hear Susan Combs' comments with regards to public debt in their entirety below)

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