NEW ORLEANS, La. – The Institute for Truth in Accounting has released a damning “Financial State of the State” report on Louisiana’s “antiquated” accounting methods and “precarious” fiscal status.
Louisiana’s unfunded liability of $24 billion cause for “serious concerns”
NEW ORLEANS, La. – On account of immense fiscal pressure, some states are “simply not going to be able to honor their promises,” asserts John Hood, author of “The States in Crisis,” a report from the latest issue of National Affairs.
In spite of the despair which clouded our city during and after Hurricane Katrina, New Orleans has experienced a historic renewal. With the election of a new administration, a burgeoning sense of optimism pervades New Orleans. The City Journal recently published an article by Nicole Gelinas which illuminates the governmental and socioeconomic factors contributing to this renaissance.
Jindal’s Prison Privatization Proposal Must be Properly Structured, But Can Generate Savings, Spokesman Says
Corrections System the Second-Fastest Growing Part of State Budgets
By Kevin Mooney
While some high profile state officials have expressed skepticism toward the idea of selling off state correctional facilities, a spokesman for Gov. Bobby Jindal says the proposal can be structured to alleviate costs and “right size” state government.
State corrections systems, like most governmental services, have rapidly expanded over recent years in size and number, which in turn forces local governments to continually allocate expanding sums of tax dollars.
Stronger balanced budget amendments safeguard against shortfalls
By Phillip Suderman
As states complete their budget forecasts, 40 states are already reporting more than $80 billion in budget gaps for the next two fiscal years, according to the National Association of State Budget Officers. In a joint report released last week by NASBO and the National Governors Association nearly half of the states are already projecting shortfalls for the upcoming fiscal year. A further 11 states are still trying to close the deficits of this year’s budget.
Introducing a new home for government accountability
The Sunshine Standard, a new website, espouses the view that all levels of government “have an obligation to proactively share the information people need to hold officials accountable.” Through model legislation, pledge appeals, a news portal, and relevant links the creators intend the site to be a “one-stop resource for citizens seeking to enhance government transparency” and to “shift the burden from citizens and journalists to state and local governments.”
Voucher programs not only provide students with access to better schools of their choosing, but cost as low as a quarter per student compared to public schools.
Mercatus study identifies expansion of eligibility
By Phillip Suderman
The most contested and popular issues during this year’s election races focused on government spending and debt. And, although many newly elected members of Congress will soon arrive in Washington to work on the national fiscal picture, the finances they leave behind in their various states aren’t in top shape. In 2010, 48 states grappled with budget gaps that totaled nearly $200 billion. The chief culprit for many states’ financial woes, most recently is Medicaid.
Two Louisianians bring lawsuit to Supreme Court against government-tobacco cartel
NEW ORLEANS, La. – The Competitive Enterprise Institute has filed a new challenge with the U.S. Supreme Court against the $200 billion deal between major tobacco companies and 46 state attorneys general of 1998. CEI’s petition for two Louisianians and one Virginian, filed last week, comes after five years of litigation and alleges that the tobacco “Master Settlement Agreement” violates the constitutional provision against multi-state agreements that have not been approved by Congress.