|
|
Unless Jindal gave tax breaks to Oil and gas corps. There is absolutely no reason for Louisiana not to be awash with money from a decade of record oil prices.
It's not like a regular industry where if you tax them they'll leave. The gulf oil isnt moving. So why isnt there money flowing out the coffers?
Our budget was increased with the revenue we received plus some revenue we no longer receive. Now the budget can't be sustained. We must cut the things that increased during that eight year time period. Instead, our governor intends to cut things that have already been being cut for the past eight years AND raise taxes.Originally Posted by longdawgview
Louisiana voters saw this coming and elected a governor who promised he would fix things without further cuts to higher ed. Most who voted for him didn't care about higher taxes.
There should be billions of dollars of extra revenue from a whole decade of record oil prices, where did it all go? Jindal cut state employees and state government, he said that in the debate. Did Jindal blow billions in extra revenue on his cronies with private contracts?
Texas has so much money in it's rainy day fund (12 billion from Oil and Gas Revenue) the legislature has had to increase the cap every biennial.
I told you, he raised the budget. He did not cut state employees or state government. He RAISED the budget.
How much money was Texas able to save up from high dollar O & G?
Are you on crack?
Yes he did, He said that in the debate. If no extra money was spent on state employees than he must of blew billions on his cronies with private contracts
Somebody is on crack to not question how a neighboring state was able to save 12 billion from Gulf Oil revenue while Louisiana blew billions but didn't increase state employees.
No he did not cut the budget. He includes the one time federal money we received (but no longer receive) when he spouts off about "his cutting the budget". It was always a shell game with Jindal. Some of us, me included, must have appeared to have been on crack to vote for him the second time.
http://bobmannblog.com/2015/06/01/di...ot-even-close/
He did slash higher ed funding and other areas of the budget, but not the budget in toto.
That is a big word
The cross hairs will be pointed directly at Tech. Political power in Louisiana resides in South Louisiana. We, as North Louisiana folks are considered much lower on the totem pole. I just learned of the Carnegie Classification deal yesterday. I don't know exactly what it means, but it will definitely be used against us if any consolidation is seriously considered. Of course, most of us have realized for decades that the number of state 4 yrs is too many for our population. The ULX folks seem to think this is a new situation and will not hesitate in using this against us, while conveniently ignoring that Tech has been and still is the leading academic and athletic member of the University of Louisiana System.Fans and alumni of ULM and ULL wouldn't care for sure as they are huge lspoo supporters.How sad.
If this question is for anyone, I think it means something along the lines of disagreeing with opinions of others based on not the logic or basis of the opinion, but to attack the person maintaining the opinion. In other words, if you can't argue the point, personally attack the person with another opinion. More succinctly, if you can't attack the message, attack the messenger. For example, the Cajuns relating to anything to do with Tech. There is a biblical passage that basically says "don't waste your time arguing with an idiot." In fact, my only New Years resolution was to not read the Cajun board. I think since I have done that, the Cajun idiots have mostly not been to BBB. I figured I was bringing them over here and exposing you folks to their nonsense, which we don't need.
Last edited by stodgdog; 02-14-2016 at 05:17 PM.
He claims that. I don't think it is true.
Having Dan Reneau leading the UL system can't hurt. (Woof--do you need a translation?)
This article is almost a year old.
Texas’ rainy day fund overflows — and divides legislators
Updated: 20 March 2015 11:31 PM
AUSTIN — Texas is so awash in money, with so much of it politically untouchable, that even some conservative Republicans want to stop salting away so much in savings.
This week, a House committee advanced proposals that would end a further buildup of the rainy day fund in eight years, if not sooner. The money would instead be used to pay off bonds early.
But it’s unclear that the Senate will agree. In early budget plans, senators want to put less money into public schools than House members — and more into infrastructure.
“A big savings account is really important,” Sen. Van Taylor, R-Plano, said Friday. The staunchly conservative freshman is aiming to assemble a coalition of road contractors, retired teachers and fiscal hawks who want to protect the fund for generations to come.
In many ways, the clash over rainy day money mirrors other fiscal wrangles that divide the Texas GOP — such as whether to exceed or change a state spending limit and how to cut taxes, given competing demands from homeowners and businesses.
But the ferocity of rainy day talk bowls over some who have followed the fund from its low-profile birth after Texas’ recession of the mid-1980s to the headline-grabbing haggles of recent sessions.
“It’s become a surprisingly emotional issue in the political debate,” said Dale Craymer, a former legislative aide who helped House leaders draft the 1987 constitutional amendment that created the fund. “The last two sessions, the rainy day fund has taken on this sacred nature that was never really intended. It was intended as a management tool.”
Funding source
The fund gets its money mainly from oil and gas severance taxes — a big chunk of any collected above amounts paid in 1987.
For nearly two decades, there was never more than $300 million in the fund. Budget writers often tapped it, without much ado. Since Republicans cemented their control of the Legislature in 2003, though, a revival of oil and gas exploration has been filling the fund rapidly.
The fund’s evolution tracked changes in conservative Republicans’ priorities during former Gov. Rick Perry’s tenure. He was pleased when lawmakers drew down $100 million in 2005, to launch his pet Emerging Technology Fund. But after that, he joined tea party activists and fiscal hawks to fiercely resist huge withdrawals.
So the pot grew bigger than Craymer and his colleagues ever envisioned.
As of Feb. 28, the fund had nearly $8.5 billion. Comptroller Glenn Hegar says it will hit $11.1 billion by the end of the next two-year budget cycle. And that’s even after nearly $4 billion was taken in the past 18 months to pay for voter-approved water projects and roads.
Craymer, now head of the business-backed Texas Taxpayers and Research Association, called the idea that the fund could hit the ceiling set by the 1987 constitutional amendment “a problem we never thought we’d face.”
The cap is now $14.1 billion — 10 percent of a complicated calculation based on about 70 percent of the state budget.
MORE
http://www.dallasnews.com/news/polit...egislators.ece
Posting Permissions
Reply With Quote