A new state ranking for assets relative to liabilities, released this week, finds Louisiana to be the second most indebted state in the South. Despite a balanced budget requirement, Louisiana has still managed to acquire $21 billion more in liabilities than it has assets to offset them.
Sheila Weinberg, of the Institute for Truth in Accounting, unravels the illusions of federal and state accounting that conceal deficits.
Led by Louisiana’s Noble Ellington, ALEC promotes “priority-based budgeting” NEW ORLEANS, La. – The American Legislative Exchange Council has released its “State Budget Reform Toolkit,” a plan for resolving fiscal shortfalls without increased taxation, raids of rainy-day funds, or reliance on federal funds. ALEC’s toolkit comes as Louisiana faces a projected $1.6 billion deficit for…
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.