The National Economic Outlook Continues To Be Bright While The State of Louisiana Stumbles.

The Congressional Budget Office reported the following:  It projects solid economic growth for the next few years;  increases in consumer spending;  Business investment and residential spending will drive the economic expansion this year and the next few years;  wages will increase;  19 million people will have health insurance because of the ACA;  as a share of the economy the federal deficit this year will be slightly below the historical average of the past 50 years;  the ACA will cost taxpayers about 20% less than projected in 2010 partly because of enrollment totals and health insurance premimums that are lower than expected;  unemployment will continue to go down.

The information coming out of Louisiana tells a very different story:  This years budget deficit for fiscal year ending June 30, 2015 is $283 million.  $180 million has already been cut and $103 million will have to be cut in the next several months according to a report in the Times Picayune dated January 28;  next years budget deficit for fiscal year ending June 30, 2016 is now projected to be $1.6 billion, up from a previous forecast of $1.4 billion;  Louisiana had the largest increase in unemployment last year from 5.4% to 6.7%;  state revenues are declining, partly because of lower oil prices but Jindal's previous budgets were all out of balance while oil prices were high and strong;  jobs will be lost and vital programs will have to be cut once again;  the $8 billion in tax exemptions for businesses will continue to erode Louisiana's revenues;  the magnitude of those tax exemptions are irresponsible.

Governor Jindal's policies and the republican controlled legislature that rubberstamped his policies has bankrupt Louisiana's budget and the sad part is that republican representative Brett Geymann was quoted by the Times Picayune in an article dated January 28 and said, "We knew we were facing a large number, we choose to do nothing about it last year."  Geymann is supposed to be a fiscal hawk.  Yea, tell me another fairy tale.

The Jindal administration continues to get into the average persons pocket in 100 different ways while his personal attacks continue against the President and the President's successful policies.  Jindal inherited a $800 million surplus from former governor Blanco and blew it big time.  Obama inherited 8 straight years of federal budget deficits from former President George W. Bush and the federal deficit has been coming down on a steady basis with a renewed economy.  And to think, Jindal runs only one state while Obama runs the nation.   That really says it all.


This commentary written by Joe Lorio