State Treasurer John Kennedy

la.gov

With the House and Senate taking today off, this is a chance to update you on some of what happened in the flurry of activity, changing over from the regular session to the second special session.

Media Commons

Perhaps it’s because it’s so late in the session, with so much left to be done, but some of the ladies in the Legislature are no longer putting up with political posturing from the men on the far right. The women are instead using logic to deflate the rhetoric.

Take  West Monroe Senator Mike Walsworth’s argument against a bill to end the Enterprise Zone program.

screen capture by S. Lincoln

“Tonight I speak to you as no other Louisiana governor has ever spoken to our state, because this is a historic fiscal crisis.”

In an unusual move, Governor John Bel Edwards took to the airwaves last night to address the people of Louisiana. Previous governors have done this in times of imminent danger: for example, to urge evacuation for approaching hurricanes. Edwards made it clear he believes this requires similar urgency.

Sue Lincoln

One day after officially announcing he’s a candidate for U.S. Senate, state Treasurer John Kennedy addressed a luncheon meeting of the Hispanic Chamber of Commerce. As usual, his speech was colorful.

“If we keep losing bright young men and women to Dallas and Atlanta, the average age in Louisiana is going to be deceased,” Kennedy observed.

But is what Kennedy says accurate, or is he just stirring the pot? Let’s look at one of his favorite talking points.

S. Lincoln

Louisiana is not totally strapped for cash – yet. But the state’s capital outlay escrow account is dwindling rapidly.

“We are spending approximately $40-45 million dollars a month. That’s what we call our burn rate,” State Treasurer John Kennedy told the Joint Budget committee Thursday. “We could continue to go for a few more months, but we don’t want to hit the bottom of the bucket.”

Kennedy assured lawmakers this is a fairly regular occurrence, and said normally the state would issue general obligation bonds to refill the account, but…
“These are not normal times.”

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