"The Texas Economy is Getting Smoked"

So says the headline in Business Insider.Link Headlines are always over the top attention grabbers and this one is no exception. The carnage in the Texas economy is still largely restricted to the energy sector and its suppliers which include metal fabrication companies.

However, prudent people should take this as an indication that the broader economy is also likely slowing. Sales tax revenue to Georgetown is up 2.5% from last year, but sales tax revenue for Texas as a whole is down 3.3%. Georgetown needs to be very cautious and conservative in spending.