"We can't have deficit spending in Texas. You have to balance your budget every two years"

This quote by Rick Perry is referring to the state of Texas and its budget plan. He is saying that the state of Texas can not have budget deficit, meaning that the state can not spend more money than it has. He is also saying that the spending plan must be balanced every 2 years, meaning that the state must make certain that the money it is investing is equal to the money it is getting. This is very important for the state of Texas to keep fiscal responsibility and to ensure that it is not investing more than it can afford. By stabilizing the budget plan every 2 years, the state of Texas can make sure that it is not spending too much which it is able to provide the needed services to its residents.