Wednesday, March 6, 2013

Treasurer Kennedy Blasts Jindal’s Budget

Calling it “A Fond Illusion”, Louisiana Treasurer John Kennedy penned a critical commentary on Governor Jindal’s 2013 State Budget.

The Budget features the use of one-time money and anticipated funding from several sources. wrote about thebudget here.

Kennedy claims that he has an easier solution to Louisiana’s annual budget issues: spend less.

“There's a better way. It's not complicated: don't spend more than you take in, and when you do spend money, spend it on things you need, not things you simply want,” Kennedy wrote.
The Treasurer also expects Louisiana to face its annual mid-year budget deficit and scramble to fill that hole.

“Call this budget what you like: a fond illusion or smart accounting. The result will be the same: mid-year budget cuts for the sixth year in a row, because the budget is not balanced. Why should we care? Because making a college cut $10 million with six months left in the fiscal year is like a $20 million cut from day one. That shreds muscle, not fat.”
Kennedy closes his commentary with a question that I’ve asked many times.

Regarding the spend more than you have government attitude and the need to cut back and live within your means, Kennedy writes, “Louisiana families know that. So do Louisiana businesses. Why can't government figure it out?”
Here's a link to Treasurer Kennedy's commentary.