More bad news for Louisiana and the oil and gas industry as Chevron North America issued a WARN (Worker Adjustment and Retraining Notification) today announcing possible layoffs in five office locations in Covington and Lafayette.
On the day that Jon Bel Edwards criticized Jindal-based "dishonest" budgeting, the governor appears to be reforming another core Jindal-attrribute of his administration, this one, being a Jindal-advocated Common Core lawsuit.
Over the past two years, when Jindal was actively promoting to national audiences that Louisiana has been balancing its budget, this year once again has proven, his balanced budgets are surreal events. Louisiana current budget is roughly 750 under-balanced.
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.
"He lied; He broke his promise; Just like a democrat, tax and more taxes; Typical Democratic scare tactics to raise taxes…"
These words have been the siren cries from those (many of them Vitter supporters), who now appear to be in apoplectic gleeful that Louisiana governor Jon Bel Edwards and his newly-found soul mate, Republican Commissioner of Administration Jay Dardenne, are talking the “T” word, taxes and not the “C” word, cuts.
Louisiana Governor Jon Bel Edwards, in a short media "gaggle" held after an Gentilly neighborhood event talked with the media about the horrific Louisiana budget situation, his sales tax proposal, his knowledge of the budget severity, possible cuts to the Universities, David Vitter's absence from a Washington DC Congressional delegation meeting and other subjects.
Any time you discuss taxes, you can bet the discussion will turn emotional.
It did Tuesday night, hours after Jon Bel Edwards announced his plan to raise taxes, utilize funds from various sources and cut government spending—all to plug a short-term hole of roughly $750 million dollars for the existing year and $1.9 million for the following year, which fiscal period begins July 1, 2016.
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.
Louisiana is a budget disaster with not too many options. In part two of our conversation with Dr. Pearson Cross of University of Louisiana, we discussed the severity of the budget gap between revenues and expenses. In this segment, we talked possible solutions, Medicaid expenses, the Jindal Administration using bait and switch practices, the possible losers and reducing the number of universities in the state, a position favored by many conservatives.