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Apparently the movie boom isn't helping.
Posted on 8/14/14 at 3:45 pm
Posted on 8/14/14 at 3:45 pm
quote:
La. budget shortfall pegged at $1.2B for next year
Louisiana state lawmakers got their first glimpse today of next year's budget gap that they'll have to close, and The Associated Press reports it's another hefty shortfall: $1.2 billion. The grim news, delivered to the joint legislative budget committee, barely raised eyebrows at the committee hearing, after more than six years of such disappointing financial forecasts. The shortfall is projected for the 2015-16 fiscal year that begins on July 1 next year. Gov. Bobby Jindal and lawmakers will decide in next year's legislative session how to address the hole. Barry Dusse, director of the governor's Office of Planning and Budget, told the committee that the administration is devising ways to close the gap. "We already have started working on solutions for next year," he said. "We're well on our way to solving this shortfall." Dusse said the administration expects the state's revenue forecast to improve, providing millions of new dollars for spending. He also said state agencies will save more than $200 million next year from the recommendations of consultants with Alvarez & Marsal, a New York-based firm that was hired to find ways to cut state costs. Budget committee Chairman Jim Fannin, R-Jonesboro, was skeptical. "I don't see anything that gives us any indication that there's a tremendous amount of growth that we can expect over the next three years" in state finances, he told Dusse. Jindal and lawmakers used $991 million in patchwork financing to balance this year's $24.6 billion budget that won't be available the following year for spending, according to the nonpartisan Legislative Fiscal Office.
Posted on 8/14/14 at 4:01 pm to doubleb
quote:
La. budget shortfall
Is the purpose of the movie boom to help the state government or help the people of the state?
Posted on 8/14/14 at 4:03 pm to doubleb
The budget needs to be slashed further
Posted on 8/14/14 at 5:33 pm to doubleb
One would think with the influx of business and jobs that we would be seeing a dropping deficit. Is spending increasing faster than tax revenues or is something else happening?
Posted on 8/14/14 at 8:11 pm to doubleb
quote:
Apparently the movie boom isn't helping.
Apparently, IB is not around.
Posted on 8/14/14 at 8:32 pm to doubleb
I agree that the film subsidies are against free market principles and are generally bad (overall) for the state's finances.
I also agree that there's historically a problem with the budgets and I think to some extent it is done on purpose in order to circumvent the legislative budget process.
However, it should be noted that the current fiscal year just started and this shortfall is for the NEXT fiscal year which won't even start for another 10.5 months. Plenty of time to make adjustments during the 2015 legislative session. The real pain is when mid-year budget cuts occur.
Also, I can't stand it when people refer to Jindal as "Piyush." Jindal's name is irrelevant to me. Just makes people look like backwoods idiots when they bring up his Indian (dot) background.
I also agree that there's historically a problem with the budgets and I think to some extent it is done on purpose in order to circumvent the legislative budget process.
However, it should be noted that the current fiscal year just started and this shortfall is for the NEXT fiscal year which won't even start for another 10.5 months. Plenty of time to make adjustments during the 2015 legislative session. The real pain is when mid-year budget cuts occur.
Also, I can't stand it when people refer to Jindal as "Piyush." Jindal's name is irrelevant to me. Just makes people look like backwoods idiots when they bring up his Indian (dot) background.
Posted on 8/14/14 at 8:35 pm to doubleb
State should just eliminate all Medicaid.
That will take care of it.
That will take care of it.
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