It’s Louisiana Christmas of 2008.

There’s an eerie Charles Dickens’s Christmas Carol feeling in the air with Scrooges of the Economy making many of us feel like paupers.

In New Orleans, today, the City Council appears poised to override Mayor Nagin’s budget veto which hits matters such as crime fighting and playgrounds.

On Monday, the Louisiana Revenue Estimating Conference adopted revised revenue estimates projecting a $341 million deficits for the current fiscal year, and a revised revenue estimate creating a projected $2 billion shortfall for the upcoming fiscal year (FY 10). 

Obviously, cities and towns across Louisiana are also experiencing the economic crunch as they are trying to make the numbers work. 

It certainly does not get better nationally.  Today, Bloomberg reports “A majority of the world’s biggest currency-trading firms say the dollar’s appeal as a haven amid the financial crisis all but evaporated”

Today, Morgan Stanley announced a fourth quarter loss from continuing operations of $2.24 per share, driven by unprecedented market turmoil 

To put things in perspective, Michael Diresto, the Communications Director for the Office of the Commission, Division of Administration sent out an email that said, in part “To place Louisiana's situation in context, I thought you might find the following information and the attached report as useful background for comparison purposes with budget situations in other states.

From a recent report by the Center on Budget and Policy Priorities:

Continuing economic problems have created budget problems in many states, leading some 25 states to reduce services to their residents….

Examples of enacted cuts to state services include:

Public health programs: At least 17 states have implemented cuts that will affect low-income children’s or families’ eligibility for health insurance or reduce their access to health care services.  For example, Rhode Island eliminated health coverage for 1,000 low-income parents; New Jersey cut funds for charity care in hospitals; and California and Utah are reducing the number of services covered. Additionally, the governor in California has proposed cuts that, when fully phased in, will cause more than 400,000 adults to be denied health coverage.”

The report also mentioned cuts for the elderly and disabled in at least 15 states, reductions in K-12 education in at least 16 states, drops in higher education funding, and across the board budget cuts in many states in the US.

Meanwhile, despite all of this misery and gloom, Governor Bobby Jindal’s campaign has sent out a email newsletter requesting money for his re-election.  In a message, Jindal said in part, “We changed the image of our state by passing some of the toughest ethics laws in the nation. We eliminated anti-business taxes that were limiting the growth of our existing companies and hurting our ability to attract new businesses. We overhauled our workforce training system to gear it toward making our people the most skilled workers in the nation and the world. We did all this and also invested hundreds of millions of dollars in our state’s infrastructure to inspire future growth, and passed the largest income tax cut in Louisiana history.

I told you on the day that I took office that our goal is a New Louisiana where success is shared by all Louisianians. A New Louisiana that is a magnet for the dreamers…the risk-takers…the adventurers…the leaders of America’s new economy…

That is still our mission, and I need your help.” (a fund raising link is inserted)

Obviously, the problems Louisiana and our local towns and cities are facing are not endemic to the Pelican state but is spread out across the globe and within the private sector.    Still, it appears odd that at a time when many are uncertain if they can afford Christmas gifts for their families, when budgets are being slashed, that our Governor who has not yet faced the real challenges as Governor is taking the holiday season to peddle for funds.

Worse, we are not sure if our Governor has absolutely written off a run for the Presidential ring in 2012.

I know many will find this scrutiny of our Governor as being nothing but humbug.  Without doubt, Governor Jindal did not cause the world’s financial problems and has taken steps to cut back government despite an increase of approximately one billion dollars in this past year’s budget.  Still, it just seems odd that we are cutting back to the bone, our economy is in the tubes and our chief of state is asking to fill his political coffers.

I know it would be unique, but perhaps Governor Jindal should have asked us to send money so we can fund teachers, the poor, the disabled and others who are certainly going to see plenty of empty stockings this Christmas.

Not that our Governor is not worthy of another term in office.  But, the days of rosy scenarios have turned black and the Governor, like Mayor Nagin, will be facing some frustrated lawmakers as they tug on the budgets exhausting the merriment of those watching.

It might be “Tis The Season To  Be Jolly” and “to give”, but with bailouts on everyone’s minds, election fundraising during this particular holiday season simply bugs the hum out of me even if we are expecting great expectations from Governor Jindal..

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