Texas-Sized Deficit Eclipses Even California

California's continuing budget shortfalls have been subjects of derision for Rich Perry, the Governor of Texas. In last year's re-election campaign, Perry sneered at fellow Republican Arnold Schwarzenegger and bragged about "hunting trips" to California, persuading companies to come share the business friendly "Texas miracle." But last week, Perry wasn't answering any questions. It turns out that Texas now has a $27 billion gap between taxes and spending. California's is just $25 billion. Wayne Slater is senior political writer for the Dallas Morning News.