State leaders on guard as economy slows

AUSTIN (AP) - Gov. Rick Perry and the state comptroller are warning that the national economic crisis is starting to affect state government, but they say Texas is in better position than most states to weather the storm.

Perry says Texas is a leader in job creation and is one of the few states with a budget surplus. But he's already asked state agencies to limit their spending. And, before meeting with business leaders Wednesday he said the economic slowdown could make it difficult to return surplus money to taxpayers and could mean state general revenue is needed to shore up pension funds.

Comptroller Susan Combs noted that state sales tax revenue is not growing as fast as it was two years ago.

The Legislature meets in January.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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