Treaurer John Kennedy, who is running for US Senate, has issued a strongly-worded statement regarding Moody's downgrading of Louisiana's credit rating. In his statement, he appears to be making a direct attack upon Governor Jon Bel Edwards's administration, former Governor Bobby Jindal, and perhaps the legislature. Edwards who inherited a $950M deficit from Jindal for the remainder of the year and a $2.0 budget deficit for the upcoming fiscal year.
The big nut has been cracked?
The Louisiana House has agreed to raise the state sales tax by another penny of every dollar spent.
So, why, once again, is the Louisiana 's budget on the downswing, rarely ever really balanced, it seems.
Louisiana is on the throes of another major budgetary overhaul, with its elementary education system bleeding, its higher education on a respirator and its healthcare system being read its last rites.
With the massive fiscal crisis facing Louisiana, legislators are looking at an array of solutions. In the short term, we will need a mixture of budget cuts and tax increases.
For the second year in a row, Louisiana has received threatening news regarding the prospects of having credit downgrades. Here is a statement released today by Governor Jon Bel Edwards's office, as the state attempts to solve a $950 shortfall for this current fiscal year and a $2 billion expected deficit for the fiscal year starting July 1, 2016.
The statement from the governor:
There he goes again.
Treasurer John Kennedy, who is doubling as a candidate for US Senate, has had a penchant lately for making statements to the media and to the public that just don't add up or make sense.
Rocky start for JBE?
A new poll by Southern Media and Opinion Research (SMOR) produced some interesting results on the current political climate in Louisiana.
By now, it might appear that almost all Louisiana voters, are acquainted with the fact that Louisiana has a deep budget problem and that the new Governor, Jon Bel Edwards, who ran on a platform of not raising any taxes, has changed course.
While the Louisiana legislature probes through different ways to close a budget gap of almost three billion dollars, there are questions whether the state is simply giving away money, or worse, perhaps acting through negligence, malfeasance or in some cases, simply paying out more than is collected.
Treasurer Kennedy slaps Jindal, Jon Bel Edwards on state contract bill
Treasurer John Kennedy was in rare campaigning form today as he testified on House Bill 96 which would reduce certain state contracts by 15 %. In doing so, he took special shots at former Governor Bobby Jindal and current governor Jon Bel Edwards for not focusing upon state contracts as a well to cut the state budget deficit.