Isn’t it time to stop playing those political games? Louisiana is on the brink of another man-made disaster, this time, the budget hole, being strengthened by a devastating low-pressure system sucking down, into the dark cavity, our education and healthcare institutions.
The horses are now in place for what might be a legendary budget showdown at the not-so-ok Louisiana capitol corral in Baton Rouge.
A new governor, Jon Bel Edwards, has inherited a nightmare of horror, a budgetary hole left by his predecessor, former Presidential hopeful and absentee landlord leader, republican Bobby Jindal, who is now living high on the hog at his own private mansion paid for the taxpayers. Yet, Jindal’s boys and loyalists-- some who wear their hands dirty after sucking dry our well full of billion dollars, are now getting armed for the big fight. And, it’s a’comin.
When John Kennedy, the Treasurer of Louisiana talks budget, voters listen. They liked when he took on Governor Jindal's use of funny money over the past eight years in cobbling together a budget.
The conservatives in Louisiana will like his "no tax" stance, despite a humongous $2.6 billion dollar budget, as projected by the new Governor of Louisiana, Jon Bel Edwards.
However, Kennedy is no longer the candidate for Treasury or the Secretary of the Treasury, but, is also runing for US Senate for a seat becoming vacant this fall.
On Tuesday morning, the folksy Republican US Senate candidate, John N. Kennedy took to the phones for interviews around the state after anouncing his long-awaited candidacy for the top federal office.
Former Louisiana Governor Bobby Jindal said he was cutting government but as we know, he raided our funds dry, used one-time revenues, followed orders of Grover Norquist, stayed in Iowa and in the New York Times and is now living in a near-million dollar mansion, while the rest of us pick up his fine mess.
The problem is not revenues, it’s spending.
That is the message from John Kennedy, Louisiana Treasurer, as he appeared today on Jeff Crouere’s WGSO 990 Ringside Politics program to discuss the Louisiana budget crises and the yesterday’s proposal by Governor Jon Bel Edwards. Edwards has been in office for one week and the budget crises reveals that roughly $750 is short for the fiscal year of 2016 and $1.9M short for fiscal year 2017.
On Wednesday, the Louisiana State Treasurer, John Kennedy circulated a report indicating that the Louisiana budget is worse than expected.
As Jay Dardenne, the now-Commissioner of Administration for Governor Jon Bel Edwards pointed out last month, the state of the Louisianaa budget is worsening.
Even worse, Louisiana, which is currently in a projected $2.6B budget hole as Edwards administration has taken office, also must deal with sharply-dropping oil prices. Oil is hovering over $30 per barrel. At the time of the recent Louisiana governor's election, oil was trading in the mid-forties.
Treasurer John Kennedy has issued this statement as he states that "Moody's Investors Service warned today that Louisiana has years of unresolved structural budget deficits and needs to act quickly in order to achieve credible balance"
Two political proxies chimed in today in response to the Times Picayune’s endorsement of David Vitter for Louisiana governor. The first response came from Treasurer John Kennedy. The second, from Stephen Handwerk of the Louisiana Democratic Party.
With Louisiana budget looking at another billion dollar budget deficit for the upcoming fiscal year, Louisiana State Treasurer has issued a new statement that state revenues so far this year are down compared to prior year, sales tax growth flat and tax receipts down.
Here is his statement which he blasted out via email:
he September 2015 Net Receipts Report shows that total state revenue thus far for 2015-2016 was $1.738 billion, a thirteen percent decrease compared to that time last year. Sales tax receipt growth was flat. Personal income, severance and corporation and franchise tax receipts were down. One of the few bright spots was gasoline tax receipts, which were slightly up.