http://www.nola.com/politics/index.ssf/2016/02/john_bel_edwards_televised_spe.html#incart_river_home
Jindal and the repub legislature cut taxes when oil prices were high and tax revenues generated from that produced enough to get by on. Now that oil prices have dropped all the planned on revenue has gone away. The budget shortfall is so big their education system (one of the worst in country already) may have to close some universities - that includes LSU and their football.
So far this is being treated by some in their legislature as something made up. All they have to do is cut some of the waste - like Medicaid and all will be well with sunny skies. OK and AK aren't far behind. There is trouble brewing in the DKs and TX as well.
Cutting taxes was expected to create so much growth that taxes would be cut even more. As they say - best laid plans....
Jindal and the repub legislature cut taxes when oil prices were high and tax revenues generated from that produced enough to get by on. Now that oil prices have dropped all the planned on revenue has gone away. The budget shortfall is so big their education system (one of the worst in country already) may have to close some universities - that includes LSU and their football.
So far this is being treated by some in their legislature as something made up. All they have to do is cut some of the waste - like Medicaid and all will be well with sunny skies. OK and AK aren't far behind. There is trouble brewing in the DKs and TX as well.
Cutting taxes was expected to create so much growth that taxes would be cut even more. As they say - best laid plans....
