FOCUS AT FOUR: State treasurer gives legislators a failing grade

FOCUS AT FOUR: State treasurer gives legislators a failing grade

LOUISIANA (KPLC) - Legislators spent more days in session this year than ever before in state history in an attempt to close a multi-billion dollar budget shortfall.

While lawmakers were able to fill most of that gap, State Treasurer John Kennedy said he'd still give legislators a failing grade.

He shared his thoughts on 7News Sunrise Friday morning:

"Our new budget year began July 1, so we are a few days into the new budget year. If you exclude the post-hurricane budget when all of the federal money came in 2005 and 2006, when I have the largest budget in Louisiana history. $26 billion.That's $3 billion more than last year $14 billion worth of state money. Also the most we've had since 2005.

Where did the money come from - the largest tax increase in Louisiana history? They raised taxes $2.4 billion in the past 365 days and they still want more money. It's very clear to me, and this is both a problem under Gov. Edwards and the problem under Jindal - we have a spending problem we don't have a revenue problem - did not before and we sure don't have a revenue problem now.

I think you were asking me earlier the grade I would give them -that would be a D - maybe an F. What they did, they implemented the largest tax increase in Louisiana history on the working families and small businesses when 40 percent of our economy is in a depression - not a recession, not a slow down but a depression from the oil and gas industry. It's like going gas on a fire."

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