Louisiana Facing More Budget Woes
You can't spend more than you make. That's the very simplistic advice from John Kennedy Louisiana's Treasurer. Kennedy fears that the current state of spending by state government will require some serious mid year belt tightening.
The general fund for the state is currently operating at a negative balance and we're only four months into the fiscal year. This has Mr. Kennedy very concerned as to how the state will make up that balance.
"I mean if you look at the numbers, we're having to borrow unusually large amounts of money from our dedicated funds just to pay the bills,"
Kennedy's remarks were reported by the Louisiana Radio Network.
There is a meeting scheduled for Friday where the current fiscal situation in the state will be addressed. Many feel that if spending is not reigned in the state could be operating at deficit and have some very difficult choices to make in regards to services provided.