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$319 million budget void emerges [Louisiana]
The (New Orleans) Times-Picayune ^ | April 15, 2010 | Jan Moller

Posted on 04/15/2010 6:12:08 AM PDT by rrstar96

BATON ROUGE -- Slumping tax collections have punched a $319 million hole in the state budget, a forecasting panel determined Wednesday, giving Gov. Bobby Jindal and the state Legislature less than 10 weeks to decide what mix of spending cuts and one-time revenue sources should be used to fill the gap.

In addition to lowering the current-year forecast, the Revenue Estimating Conference, a four-member panel that decides how much the state can spend each year, also lowered the forecast for the 2010-11 fiscal year that begins July 1 by $245 million.

State officials have been anticipating another round of midyear budget cuts since February tax collections came in far below original projections. But until the forecast became official, they could not begin the actual work of cutting the budget and tapping various funds.

Senate President Joel Chaisson II, D-Destrehan, said the upcoming cuts could have a "devastating effect" on health care and higher education programs, which are almost certain to be targeted because they are the largest unprotected parts of the state budget.

Although midyear shortfalls are nothing new in state government, the current situation is unusual both because of the size of the hole and the timing. It's the second time this year that the state budget will have to be adjusted downward, coming on the heels of $248 million in cuts in December.

(Excerpt) Read more at nola.com ...


TOPICS: Business/Economy; Front Page News; Government; US: Louisiana
KEYWORDS: bobbyjindal; budget; budgetdeficit; deficit; jindal; louisiana; louisianagovernment; louisianalegislature; louisianastatebudget; statebudget; stategovernment

1 posted on 04/15/2010 6:12:08 AM PDT by rrstar96
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To: lsucat; Roux; Pikachu_Dad; WFTR; chemicalman; abb; Liberty911; CajunConservative; LSUfan; ...

Pelican State ping


2 posted on 04/15/2010 6:13:22 AM PDT by rrstar96 (Strength and Honor!)
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To: rrstar96
Either the budget folks were asleep at the wheel, or things deteriorated very quickly in LA. Probably a sign of things to come in other states.

Does anybody keep a "states in trouble" list?

A pox on the first smart aleck that replies "All".

3 posted on 04/15/2010 6:17:41 AM PDT by mlocher (USA is a sovereign nation)
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To: rrstar96

Put a $319 million tax on Leftwing Organizations!!


4 posted on 04/15/2010 6:19:36 AM PDT by GeronL (Entitlement Zombies will become real zombies when the money runs out)
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To: rrstar96

Simple. Expel New Orleans from the state.


5 posted on 04/15/2010 6:23:04 AM PDT by screaminsunshine (i)
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To: mlocher

LA got billions of taxpayer dollars to take care of the ‘Katrina’ problem.

Eventually, but not quite yet, those dollars will cease and the result will be catastrophic.

For now they are still on the dole for taxpayer dollars.


6 posted on 04/15/2010 6:23:04 AM PDT by Carley (I'll keep clinging to the constitution, my guns and my religion, thank you.)
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To: rrstar96
Wait, how can revenues be declining if there is a recovery in progress and GDP is going up?

Somebody is lying: either the politicians and stock market pump-monkeys who keep telling us there is a recovery, or the actual numbers, which say otherwise. Who do you choose to believe?

7 posted on 04/15/2010 6:23:52 AM PDT by Zeddicus
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To: Zeddicus
Who do you choose to believe?

Certainly not my own d*** lying eyes!!

8 posted on 04/15/2010 6:27:35 AM PDT by 17th Miss Regt
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To: rrstar96

Why don’t they get Mary Landrieu to whore herself out one more time?


9 posted on 04/15/2010 6:29:35 AM PDT by Repeat Offender (While the wicked stand confounded, call me with Thy Saints surrounded)
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To: Repeat Offender

Oh, you mean get the same deal as her first “Louisiana Purchase”, with some extra $19 million thrown in for good measure?


10 posted on 04/15/2010 6:41:19 AM PDT by rrstar96 (Strength and Honor!)
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To: rrstar96
You guessed correct.

Johny show 'em what he's won....... "Well RO, it's, A BRAND NEW RAISE IN TAXES!!!!!!!" ;)

11 posted on 04/15/2010 6:48:10 AM PDT by Repeat Offender (While the wicked stand confounded, call me with Thy Saints surrounded)
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To: rrstar96

Will entitlements like the pay for the politicians in office or the welfare recipient be reduced to balance the budget? Never. The state will go into bankrupty before that ever happens.


12 posted on 04/15/2010 6:49:39 AM PDT by Jack Hydrazine
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To: Repeat Offender

Why don’t they get Mary Landrieu to whore herself out one more time?

Ten cents won’t help our economy on pit.

Anyway, Governor Jindal will do all he can to fix things. If not, we’re all in it together.


13 posted on 04/15/2010 6:50:21 AM PDT by Bitsy
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To: rrstar96

An excise tax on ACORN and the 250 other tax funded organizations at the same address in NO should clear this up lickety split.

I’m sur ethe Dems in LA are trying to figure out how they can blame this on Katrina, FEMA, and George Bush.

In a little more than four months, we will celebrate the fifth anniversary of Hurrican Katrina—the hurricane that refuses to die.


14 posted on 04/15/2010 6:54:32 AM PDT by exit82 (Democrats are the enemy of freedom. Sarah Palin is our Esther.)
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To: mlocher

Probably a sign of things to come in other states.


Texas is looking for ways to come up with an expected shortfall in the next two year budget which maybe upwards or $10 billion or so. The legislaute meets next Jan and already the governor is asking agencies to look for ways to make 5% cuts but that amount isn’t going to cover the shortfall.


15 posted on 04/15/2010 6:58:06 AM PDT by deport
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To: deport

At the very least, Texas understands its problem coming in the next budget, not the current budget. Kudos to Texas for being proactive.


16 posted on 04/15/2010 7:23:17 AM PDT by mlocher (USA is a sovereign nation)
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To: rrstar96

I thought the lottery and casinos were supposed to repair all the roads, build new schools, and make everything wonderful in LA. At least that is what they promised. ;0)


17 posted on 04/15/2010 7:30:20 AM PDT by seemoAR
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To: rrstar96

Hey, Bobby!!! Cut Taxes Across the Board and watch State Revenue SOAR!!!!!


18 posted on 04/15/2010 8:05:09 AM PDT by trillabodilla (Jesus Saves)
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To: rrstar96

Obama not cutting out foreign oil, and our wells stay capped.


19 posted on 04/15/2010 9:55:21 AM PDT by chemicalman (Everyone is investing in gold. I'm investing in lead.)
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