re: Louisiana closes last year with a $100M surplus

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Louisiana closes last year with a $100M surplus

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State Data Lab is really interesting when it comes to state finances. Louisiana owes more than it owns and ranks the 41st out of the 50 states.

Other interesting facts.

Louisiana's Taxpayer Burden™ is -$18,300, and received a "D" from TIA.

Louisiana only has $13.7 billion of assets available to pay bills totaling $37.3 billion.

Because Louisiana doesn't have enough money to pay its bills, it has a $23.7 billion financial hole. To fill it, each Louisiana taxpayer would have to send $18,300 to the state.

Because of an accounting rule implemented last year, Louisiana has to report its pension debt on its balance sheet. This year, the state's reported pension debt grew from $8.8 billion in 2015 to $9.5 billion in 2016.

Despite reporting most of its pension debt, the state is still hiding retiree health care debt. Louisiana's total hidden debt amounts to $5.9 billion. A new accounting standard will be implemented in two years, and will require states to report this debt on the balance sheet.

NOLA doesn't fare much better.