By now, we know that Louisiana’s budget condition is on life support, with the new Louisiana Governor, Jon Bel Edwards, being sworn in this Monday and with the outgoing head of state, Bobby Jindal, leaving office after eight years.
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.
The issue of taxes, revenues and incoming Governor Jon Bel Edwards’ intentions considering a horrible budget deficit has been part of the continuing debate and dialogue since the elections in November. The speculation was fueled further when the incoming Commissioner of Administration, Jay Dardenne, recently announced that all revenue sources needs to be considered because the budget gap is nearing a horrific $2.5 billion over the next year and a half and worse than initially anticipated.