State Economist Contradicts Jindal on Cause of Budget Crisis

[DonViejo]

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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*Greg Albrecht, the chief economist for the Louisiana Legislature, in an analysis he released Wednesday (Feb. 25).

http://politicalwire.com/2015/02/26/jindal-contradicted-on-cause-of-budget-crisis/