Louisiana's current budget hole worse than expected
Thanks Jindal!
http://www.nola.com/politics/index.ssf/2016/02/louisiana_budget_crisis.html#incart_river_home_pop
Louisiana's current budget hole that must be filled by June 30 is $870 million -- even worse than Gov. John Bel Edwards has been saying for the past several weeks. "For all practical purposes, Louisiana is in its own recession," said Greg Albrecht, the Louisiana Legislature's economist that predicts the state's tax collections.
The even-larger-than-expected problem means the budget cuts and tax increases being considered to solve Louisiana's budget crisis may have to be more aggressive than originally proposed.
Next year's budget shortfall also looks bleaker than originally projected. The state is now projecting a $2 billion hole in the next fiscal cycle, higher than the $1.9 billion figure Edwards has been using for the past several weeks.
The Louisiana Revenue Estimating Conference -- a panel of legislators, members of the Edwards administration and one economist -- met Wednesday (Feb. 10) to determine the official size of the deficit for this year and the budget shortfall for next year.