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Message
Louisiana taxpayers owe nearly $19K each for government debt obligations, report finds
Posted on 9/30/21 at 6:39 pm
Posted on 9/30/21 at 6:39 pm
The Center Square
The good news is that Louisiana is in the Top 10 Nationally!
Connecticut #1
New Jersey #2
Illinois #3
Mass. #4
Hawaii #5
Delaware #6
Kentucky #7
Vermont #8
California #9
Louisiana #10
(The Center Square) – Louisiana did not have enough money to pay all of its bills in fiscal year 2020 despite ample federal funding, according to a Chicago-based fiscal watchdog.
The result is $18,700 owed per Louisiana taxpayer, the group said.
The finding comes from Truth in Accounting (TIA), a nonpartisan financial transparency firm that analyzes government reports and puts data into terms the general public can understand.
The organization’s newly released Financial State of the States assessment uses each state’s required annual comprehensive financial report and retirement plan report to determine its overall fiscal condition.
Louisiana ranked 40th out of 50 states, earning a grade of D in the report.
“Louisiana’s elected officials have repeatedly made financial decisions that left the state with a debt burden of $22.3 billion,” the report said. “Louisiana did not have enough money set aside to weather the pandemic and the state has been in poor fiscal shape for years.”
Most of Louisiana’s financial problems stem from unfunded retirement obligations that have been accumulating year-over-year, the report said.
The good news is that Louisiana is in the Top 10 Nationally!
Connecticut #1
New Jersey #2
Illinois #3
Mass. #4
Hawaii #5
Delaware #6
Kentucky #7
Vermont #8
California #9
Louisiana #10
(The Center Square) – Louisiana did not have enough money to pay all of its bills in fiscal year 2020 despite ample federal funding, according to a Chicago-based fiscal watchdog.
The result is $18,700 owed per Louisiana taxpayer, the group said.
The finding comes from Truth in Accounting (TIA), a nonpartisan financial transparency firm that analyzes government reports and puts data into terms the general public can understand.
The organization’s newly released Financial State of the States assessment uses each state’s required annual comprehensive financial report and retirement plan report to determine its overall fiscal condition.
Louisiana ranked 40th out of 50 states, earning a grade of D in the report.
“Louisiana’s elected officials have repeatedly made financial decisions that left the state with a debt burden of $22.3 billion,” the report said. “Louisiana did not have enough money set aside to weather the pandemic and the state has been in poor fiscal shape for years.”
Most of Louisiana’s financial problems stem from unfunded retirement obligations that have been accumulating year-over-year, the report said.
11
Posted on 9/30/21 at 6:41 pm to MrLSU
I lived in five of those states. 
Posted on 9/30/21 at 6:42 pm to MSTiger33
quote:
I lived in five of those states.
You clearly have a lot to be proud of.
Posted on 9/30/21 at 6:43 pm to MrLSU
quote:
Louisiana taxpayers owe nearly $19K each for reparation obligations, BLM finds
Posted on 9/30/21 at 6:43 pm to MrLSU
But at least all of those states ahead of Louisiana see the fruit of their tax dollars to some extent.
ETA: Louisiana taxes and spends out the wazoo and still manages to rank near the cellar in every major metric.
ETA: Louisiana taxes and spends out the wazoo and still manages to rank near the cellar in every major metric.
This post was edited on 9/30/21 at 6:45 pm
Posted on 9/30/21 at 6:44 pm to MrLSU
Seems like a lot of those states have Democrat governors.
Posted on 9/30/21 at 6:51 pm to MrLSU
Govt spending never slows. Never.
Posted on 9/30/21 at 6:56 pm to MSTiger33
And they all have Democrat governors... Shocking.
Posted on 9/30/21 at 7:01 pm to MrLSU
quote:
The result is $18,700 owed per Louisiana taxpayer, the group said.
Funny they break it out that way. What percentage of Louisianans pay 0 taxes, I wonder?
Posted on 9/30/21 at 7:25 pm to Ingeniero
quote:
What percentage of Louisianans pay 0 taxes, I wonder?
Over/under 70%?
Posted on 9/30/21 at 7:41 pm to CoachChappy
Illinois leadership is going to be pissed. They aren’t even #1. They’ve been under spending
Posted on 9/30/21 at 8:27 pm to MrLSU
Weird, 80% of those states are blue.
By mah debt ceiling
By mah debt ceiling
Posted on 9/30/21 at 8:38 pm to MrLSU
$18,700 owed per Louisiana taxpayer
—that all? I thought it would be ten times that.
—that all? I thought it would be ten times that.
Posted on 9/30/21 at 8:45 pm to MrLSU
And despite that, those other 9 states are fricking light years ahead of Louisiana.
Posted on 9/30/21 at 8:57 pm to Devilsturn
Louisiana is only “red” on social issues — not the issues that actually matter
Posted on 9/30/21 at 9:40 pm to MrLSU
Mostly Latoya
Posted on 9/30/21 at 11:37 pm to 9001
quote:
And they all have Democrat governors... Shockin
Wasn't much different when Louisiana had Republican Bobby Jindal either
Posted on 10/1/21 at 12:44 am to 9001
quote:
And they all have Democrat governors... Shocking.
Vermont and Massachusetts have Republican governors
This post was edited on 10/1/21 at 12:45 am
Posted on 10/1/21 at 12:58 am to MrLSU
Most from unfunded retirement obligations.
The realistic solution is that you can't start collecting retirement until age 65 AND outsourcing more government services to private contractors.
The realistic solution is that you can't start collecting retirement until age 65 AND outsourcing more government services to private contractors.
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