Speaking Out for Louisiana Citizens

Louisiana’s credit rating has recently been evaluated by several agencies, both Moody’s and S&P. Governor Jindal would have made me a very good used car salesman. He tries to make something that looks bad look good. In this case, it was our credit rating. He has publicly stated that the agencies didn’t lower their rating on the existing outstanding general obligation bonds. That is true, but this is what Jindal did not tell you. This was done because our state constitution gives those bonds first-call, even before the employee’s retirement benefits (all the money in the state treasury). If we go broke in this state, those bonds will be paid. Even at that,we must realize that the statebonds could cost more money in the future.

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