Most states brought in more money than they spent in 2013, but not Louisiana
Louisiana was one of three states where total expenditures exceeded total revenue last year, according to the U.S. Census. (Chelsea Brasted, NOLA.com | The Times-Picayune archives)
Julia O’Donoghue, NOLA.com | The Times-Picayune By Julia O’Donoghue, NOLA.com | The Times-Picayune
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on February 04, 2015 at 5:35 PM, updated February 04, 2015 at 6:49 PM
The vast majority of state governments brought in more revenue than they spent in 2013, but that wasn’t true of Louisiana.
Louisiana was one of just three states where total expenditures exceeded total revenue, according to data provided by the U.S. Census. The state brought in about $31.2 billion — that figure includes taxes, federal grants and other forms of funding — and spent about $32 billion in all, according to the census. Kentucky and Massachusetts were the only two other states to spend more than they received in revenue.
Louisiana is facing a projected budget shortfall next year of $1.6 billion. A national credit agency warned this week that Louisiana has a “structural deficit” problem, meaning the state regularly spends more money than it takes in each year.
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Julia O’Donoghue is a state politics reporter based in Baton Rouge. She can be reached at [email protected] or on Twitter at @jsodonoghue. Please consider following us on Facebook at NOLA.com and NOLA.com-Baton Rouge.