Flirting with Secession

Recently I was made aware that some portion of the country, and the world is under the impression that Texas wants/is hoping to secede from the Union. I was surprised, since I am a Texan and don't have any interest in seceding. My friends, family, co-workers, classmates, and even casual acquaintances have never expressed any feeling of wanting to secede, so I thought,"Why would anyone take that seriously?" Turns out Governor Perry brought it up in 2009 during and after a speech addressing Tea Party types at the capital. Referring to secession as a reasonable consequence of continued federal budget problems, he brought the issue from the fringes to the forefront and gave a tint of credibility to an otherwise ludicrous topic.
So now I'm wondering... is it feasible?  Regardless of what I would choose for the state (I would not choose secession, so you know), is it possible? If Texas could secede would they be able to make it with out federal funding? What would happen at the border with no one to keep Perry in check? With the public schools already considered sub-standard by the nation and obviously not a priority for Perry, what would happen to the already crappy education standards?
Apparently Texas utilizes more federal funding than it pays in federal taxes, just this month Perry asked for federal funding to help cover the cost of tornado damage to the state (wait, didn't Perry say that's what the Rainy Day Fund is for? Didn't he just turn down federal aid ear market for the schools that would save teacher's jobs, because he doesn't want handouts?) So it looks like... no. Texas needs federal funding now, there is no reason to think seceding would magically clear up our budget problems less the aid.
Then we need to know, is secession even possible without some sort of civil war? The Texas Nationalist group says it should only be a matter of gaining interest in the Legislature and passing a Bill declaring Texas as independent from the US. Others say no, that when Texas re-entered the Union the option to split into as many as 5 five states was given, but the option to secede was taken off the table. I'm pretty sure starting a civil war would only add to Texas' budget woes, and then where would Perry find the money to build that giant wall he wants at the border?
So it sounds like talk of secession is a solid bluff. Thank goodness, when I say I'd like to spend time in another country I really don't mean Oklahoma!