“A rebounding oil market and a blistering economy led the state’s chief accountant on Wednesday to increase his revenue estimate for Texas’ current two-year budget cycle by $2.8 billion. The upshot is that, within certain bounds, lawmakers will have more money to play with as they make spending decisions after returning to Austin in January.” (Note: This illustrates the risks of focusing on short-term cash flows. Three billion is a drop in the bucket compared to Truth in Accounting’s estimate of Texas’ total unfunded obligations.)