DALLAS – While the Texas economy continues to outperform the nation’s, its government has failed to fix structural problems with its budget, according to a new report from Standard & Poor’s.

“As we have noted for the past five years, we believe that the school finance reforms that the Legislature approved in 2006 created a long-term source of budgetary imbalance and potential liquidity pressure for the state,” said Standard & Poor’s credit analyst Horacio Aldrete-Sanchez in the report released Friday. “In our opinion, the 2012-2013 biennial budget did not materially alter this structural imbalance.”

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