While the news media focuses upon the major Louisiana budget gap of roughly $1.6B, hard decisions need to be made, within a backdrop that voters might not understand the enormity of the budget cuts needed and the changes that need to be made to get through the upcoming legislative session.
by Rep. Tim Burns, Member of the Louisiana House of Representatives
Louisiana is facing perhaps its worst fiscal crises in decades and this time no one is exaggerating for political rhetoric purposes. I spoke recently to the state’s chief economist, who put it quite bluntly; “We have a $1.6 billion deficit and this one is REAL. Listen to me! It’s REAL!” It’s not as if the other deficits were fake, but they always happened to be paired with some handy one time money to fill the gap. This time there’s no Katrina money or stimulus money or BP money or rainy day money or some other money pot or two tucked away somewhere convenient that’s going to magically appear to save the day.
In all the talk about finding ways to bring Louisiana’s fiscal year 2016 budget into balance, through spending cuts and/or revenue additions, an obvious policy change of the former should stand out – limit welfare receipts to those who already receive some forms of assistance if they have another child.
If you’re a college student trying to etch out a career without going bankrupt first due to skyrocketing tuition, don’t worry; If you’re a business person depending upon the tax credit for inventory to get you through the year, no problem; If you’re a member of the working slugs, trying to get medical treatment for your family, don’t sweat it; But, if you are a Louisiana legislator, trying to keep your Capitol part-time job, you’ve got a problem.
Today, the Jindal Administration released its Executive Budget in front of an overflow audience at the State Capitol today. The issue--how to plug a gaping $1.6B budget deficit for the upcoming fiscal year.
Below is a budget overview from the administration issued today moments after the proceedings began.
Better late than never, never let a crisis go to waste, or whatever saying fits to describe an attempt to do what made far too much sense years ago, which for that reason didn’t get done, in the merging of the University of New Orleans and Southern University in New Orleans.
Louisiana Governor Bobby Jindal has issued a statement regarding the good and bad news associated with the anticipated Moody's Investors Services rating and outlook.
by Stephen Waguespack, President and CEO of LABI
Can you hear it?
Do you hear that gnashing and grinding noise? You may have to be very quiet and cup your hand around your ear, but if you concentrate for just a moment, I bet you can hear it off in the distance. Take a moment and try it. Quiet your breathing and listen very closely...do you hear it?
State Rep. Jim Fannin (D/R-Jonesboro) may have inadvertently exposed the Jindal administration’s $178 million “surplus” for the fraud it is in a brief conversation with one of our readers from north Louisiana who knew the right questions to ask,LouisianaVoice has learned.
by Tom Aswell, publisher of Louisiana Voice
The scene is a cheesy carnival with a sleazy barker trying to coax indifferent passersby into a tent sideshow that is certain to be equal parts hype and fraudulence. You can almost hear his voice as he drones: