Louisiana Gov. Bobby Jindal (R) “has repeatedly claimed that Louisiana’s projected $1.6 billion financial shortfall in the next fiscal year is primarily due to falling oil prices, but the state’s own economist is saying — in no uncertain terms — that this is not the case,” the New Orleans Times Picayune reports.
“Unlike Jindal, Albrecht blamed the majority of the shortfall on Louisiana’s budgeting tactics over the last few years. He said Jindal and the Legislature have relied on piecemeal funding sources — trusts, revenue from property sales and other things — that don’t replenish themselves year after year. This has lead to the financial crisis.”
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