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(Louisiana) Treasurer: You can't tax way into booming economy
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| Contributor | kal |
| Last Edited | kal May 04, 2007 04:40pm |
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| Category | News |
| News Date | Friday, May 4, 2007 10:00:00 PM UTC0:0 |
| Description | Louisiana Treasurer John Kennedy is worried about next fiscal year's record setting $30 billion budget.
Kennedy, who spoke Thursday to the Monroe Rotary Club, said what is bothering him is whether anyone in state government realizes that the storm-related windfalls responsible for the big numbers are only temporary.
"I've never seen anything like the money that's coming in," he said. "We ought to talk about what happens when the money stops and use this as an opportunity to make government more efficient."
Louisiana needs to put a number on recurring and nonrecurring revenue before talking in terms of numbers that big, Kennedy said.
"Let's talk about what we can count on — no reasonable person believes we can sustain that," Kennedy said. "I'm afraid that the next governor, about three years in, will see revenues fall and the state will fall into a deficit."
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