WWL>Topics>>The Think Tank 1010am, State Deficit Problem

The Think Tank 1010am, State Deficit Problem

Jan 7, 2016|

Can the Louisiana legislature solve our gigantic state budget deficit problem?  If there is a solution, would it be based on new taxes?  Can you afford more taxes? This hours guest: Dr. Jose Bautista - Economics Professor in the Division of Business-Xavier University Jeremy Alford - Publisher-Editor, LaPolitics Weekly

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Automatically Generated Transcript (may not be 100% accurate)

Or going back everybody you. If you know motorists. You don't hungry you know moon ball lately here are going up on the Lebanese. Mississippi River like punctured trained their Berry Berry are getting up in your. Flood stages spore is opening the Bali re opening the marked cans of blood boiling. So we're going to be talking to represented to their raw abuse that you broad general from the yeah it's the way. Any time soon. And and it's actually watched that. Are the benefits are the minuses little bootable and and what ward the pre requisite notes. For opening that spillway. A lung. Media is still the big takeover of federal way and in Oregon and action of small group of anti government Millwood and there were a couple of things. One of them in the Atlantic. That also relieved opened story protests about law. Bid adieu breeder in you believe that looked like it could threaten the bird fabric of our big two bogeys. In this country's judicial system. Surely take a look at both sides of that controversy. For this hour. Literally went back to roar or Ka and so couldn't couldn't find enough problem to have put together. But over the way of seniors. Aboard and get me. Introducing show whose. Right hope we're legislative sessions. And I think on each and every one you would hear of mes today. Poll how. What the deficit. All of my goodness where we're gonna. Get your program got all. It is doomed their differences if the chickens have finally come home roots and that's going to be unbelievably bad and that. And then leave the insurer whose after the legislative session. Well we've we've we've gotten some money there at the last moment so. Yeah I universities cut he would put certain probably would then. Yeah well we can weaken the hospital opened. Cup couple cuts and sacrifices. So. It will column as a shock to. I'm telling you were shocked. There we're going inspector says if in this heat. In general why we or leasing. Office. And why. Virtually. The same legislate. Ports. That over the left seniors read your pod forward years that's like a doubt that that's. One. But there's certain. Image shocking to me. We have one point eight or one point nine billion dollar proposed. And it's the new governor who used to be a legislator. And the new head of division of the administration. Should be religiously. End the current governor who's who's going to be the former governors saying you are wrong the depth is not quite that bad I've done a really great job. Of which you guys were part. So oh. What do you say it would go through this so choose sides again and see what it'll mean. Of words total will always go to doctor Posey brewed teas that. Economics professor division of businesses say beaters university. Doctor welcomed to Groundhog Day. How there are limits to be that is currently happy new year. Sinners saved your cell. How exercise should be bureau with a one point me or not and one point nine billion dollar dipped. Well and then there's no victory is going to be concern over at any deficit. Especially you know what that much of that the magnitude of the numbers that you reproduced. In any opening. What we should be concerned about you know in terms of dealing with this is that balancing act the new governor and the legislature. At. Based in terms of what they're proposing in terms of lowering tax. Factory where the same type of burdening the tax super. Hero will. Why do leap to any. More tax revenue for the state because. You know worker. Letters that people perceive that the new governor gonna perceive that you know he has that mandate. To. To govern well with the board. Liberal tilt. Toward the state finances. Well how are we going to lower the tax day news. And and do what. They'll expand the tax base he stood at the same. They're excerpt the text based but at the same time lowering tax rate. And and and do we think in this environment. You know we hear on the Tuesday in time. That tax increases for whatever the reason or going to meet with the pro. Well overdue we nada Detroit's. Well there's certain there's certain taxes and fees. Record theory and could be. Revenue and are at stake but. In the legislature and the governor to be very careful in terms of what what factors that are raised Leo for example you are well. It's your thing you know. Excite taxes are always pay an expedient. Sort of revenue and earn that you rate that fax. People are going to be buying those commodities so good early excise taxes are set. And so therefore. You know company. It becomes the Leo good source of revenue you know gasoline and that means that I'll open example. Step back though it's an issue that. It is on the says right now because it's people become more aware of you know that age smoking. Is that it's so cute greatly increased over a over the years of the decade so there for you know what it is to raise the excise tax on tobacco. Wondered that for a long time. I don't know anybody that smokes and more we weren't Kennedy. Very large downtown building we're probably a thousand people more here and maybe may be outside city. Two or three people smoking a day I mean where we keep raising the cigarette taxes would where eleven people opening. Yeah exactly exactly you know that that's an example there. It really doesn't make you be sent to increase the income. Increase excite and but you know even a bit but until back oh if you speak even on. Even on alcohol. And let's see werder. We are we without alcohol. Me and get her her around. Or look or baker urged to be careful because you know where it. In order Opel. Oh well a lot of sources. Let that sell alcohol are at. You know our out. Our hotel where bars that are frequented by like tour and you have extent to which they. They'll repeal that was there have been. There are higher burden and paying a higher excite four or alcohol you know is that going to be. It certainly detrimental to their business. Again very area or sensitive issues. Our Olympic break here and him overcome gaga wants W appoint a bread why he's is wrong. Indy in two separate publications or read that it didn't really increase the sales tax by one enemy. We would raise 750. Million box. A brew going to be but it broke at one point 81 point nine billion dollar deficit. And raising yet by two cents. We booed Karl moats that many birds and the bad deficit. Or what is Dubya did 2%. Increase in sales act who's gonna notice sued and doesn't really. Raise that kind of money coming right back double up yeah. That you probably nobody would you and then Tuesday reported budget deficit problem. Special session being called shortly imprimatur grow at a crowd of figured out. All we go to doctor Holmes they brewed teas that economic protesters have been in the business. Maybe he'll revert to better understand all this. Doctor at the depth it's a brilliant one point 81 point nine billion. What are bread a couple of times says that by increasing the sales tax by one MP. We could raise 700. Million dollars is that incorrect. I haven't I haven't been that. I don't have a theory in Beulah. Rita bit about it but the courts unit is that if you if you rate the the sale. You and the build that structure right now again you're here you're ready and it featured here. Jerry OK. You know and you know potential retail sales. Now what are that rat in terms of reform. Art built they'll act structure. Is perhaps bringing. But the ability. I think they'll. On their. Now here pay here sort of regulates. Cannot be impeded. By old man who goes there are. Let like what kind some veterans. Well you know it paid for example of legal services you know public it will require legal services. It gonna go do you know lawyer but when it back perfection and he Oprah like a better term out there and having the alternative. Rather than it. Bailey of the services. And so therefore you know if being a lawyer you know legal. Are that apparently local press in a separate them with a registry. And then on top of that you know they're packed. I'm more than likely. The climate not gonna be able to your speed do I. I'm gonna walk on their I'd rather go to jail rather than a real there. So therefore you know firms offer services. In you know it pay it will likely part of of ripping you throughout. Well why. Look like they'll act. We don't believe. Is. You're not. In our charge that the. All right did your statement and question governor Jindal cell interstate bludgeoned his balance. Then ballots every year for eight years or role. We chose not to raise taxes for eight years instead of we'd cut the size of government. In order to balance the budget. Raising taxes charge job creators and small business. So according to the governor and we we don't have video budget problem. And raising taxes is a bad idea. Would what do you see this legislature. Do. Ken Green. Let's let's say there's no doves of we do need to meg deficit I mean adjustments. Odd to the budget. Can we do about raising taxes. It's going to be it's going to be art bill even before. Him that. Great they're great they're lower factory. The Ager and the governor of epic that come with some agreement in terms of what priority at the state. And the the primary date (%expletive) all the in the area of education because I mean that's where you get your bull. Early April 4. They're all again you know what again Cuban capital and it where you know developer of that and the letter opener at all while you are aware that we're back we're not thinking via the state economy grow. And so therefore you know sure. Many. We we outgoing governor. You may not reclaim in terms though it elect what he cited here can be. The physical structure the eight. That is required due. All state and local government there required by law. Two you know court and bow their budget at the airport. The beat the mean mile and make that. That make battery. He bent to get help me notes dumb question. You balance the budget and have a big deficit. Well. You find it find the source that you. To provide for that revenue IT. It's like you're. We we've you know we've balance fired we need our expenses. By. You know opening a credit card. Opening here you know credit card out there are going to. You know Billy do most expedient way to borrow money for a while one sort or another. And you know they federal government and a different. Ari do I'm a mother go back to act I'm not clear there. It if it comes to cutting back Correll limiting tops it becomes too. Cutting back in higher education or closing or merging some colleges you'll Rupert. If you Paula that involve the board. In the news say hell we don't drugged on hospitals. We mourned lower income people who have access to health care. Well if implied go to buy a fifth of liquor impacted some regrets. Clothing. Restaurant food. And I'm charged a pin any extra. On this sales cuts. And brings in 750. Million dollars. I still don't get to where. That's not the best alternative. It again that the beta. They showed that. That that the possibility. If it wasn't like here is based on the trans. You know future they'll be useful. Currently. That they interpret. The local government entity. That NATO obviously is though he's not follow. You know forward you know for you know any number of reasons you know what we have very. You know got turbine and other natural without their. Then you know all. Although. I think it's speculation in terms of where you are expecting Google thrown out the window. Well you know on the other hand it over we have. You know again. God permitting. Some good fortune will generate you know a lot of additional. People that come to the state ritual. And more expenditure to our local. Tool or our local businesses there you know vote. Numbers you major pretty can be interpreted. All right we're we both get about 32 quick questions curiosity on my part. The other state lottery money where does that money goes in general fund. I. There's it's already. They. Think we've been here we go go again for election. When that was first and establish. You know it would have a couple of decades ago that was well be earmarked toward education. Ones. You know. You know it's restricting them. The local paper in because I have been down there and endangered to find a tractor. Where that money is actually gotten. All right that some little world try to did the details about that I am curious. Doctors always a pleasure happy new year thank you call. It. Are coming out of actually below talked to Jeremy Alpert. Publisher editor love politics weekly and he brought them sit there and Baton Rouge and watches he should be blamed for a lot of ego questions Gibbs call. Just a general 18 celebrity. BO. Anger about the upcoming special session of the allegedly drew we've Jeremy Alford with as. Publisher at the politics weekly Jeremy happened sir and welcome the show think we're calling. You've got to help me her on telling there isn't like we could call and a brief comments. On the blogs are males are virtually the same thing on some letters and poems about when and some body. Who's not and Dubai brazen act and we won that get in there and caught the government. Now governor June moved quoted quoted as saying. And budget is balanced we don't know every year and years and broke open. We can raise taxes over the use lead yours and I caught the outside of the government. Now the gut jade Gordon who's doubling him division of administration. Says quote. We're gonna start speaking the truth frankly and boldly. We're gonna end area of gimmicks and for a green or blue all aboard the smoke or break in the mirror regarding the state budget. Help me and computes to appeal like him and how some reports. Well you know public I think the honeymoon period. We're down ports candidates and issues like that that period where we're governors to cut it'll it will room breathing room. But I think with the budget problem it is in and on the scapegoat. Produced a few months you know you'll be able to say that. That he handed the budget that a lot of these problems rest with the governor Bobby Jindal but after a certain amount armed that there ought to start promoting. They're decisions and owning these problems so a lot of it is just posturing and politics to be expected but. Look we got to seven under the team knowing dollar revenue shortfall for the current fiscal year. And a one point nine billion dollar shortfall for the fiscal year that sort slot first and then these are two. Very different separate problems. Alone you know look let's start with that the current fiscal year real world aptly termed it there's not a six month ago. In it you're practically new sources of revenue which is essentially taxes. And in the middle of yours so in perhaps apology garden and there are things like a lot of table most prominently. Our reductions to state government. Very aren't properly trusting employees. They present our way to cut and then. But it certainly gigantic number it was put into perspective summer particularly about short ball that's an exact same amount of money in the journal on the dedicated our exchange. So I don't get the irony is is that could he he could be a democratic governor you know Republicans smoke and government that they want. Public ago about there and it is we we just don't know yet but it governor elect Edwards said of the next ten gators. He's going to issue in Maine new options for lawmakers to decide on and in and at that Chemical Ali operative oral history here CE. You know he started out is that our term with owning these agendas. And then all of a sudden it started issuing these kind of menu options. Saint yeah these are mine it is easier to raise that lawmakers ended. But for the next between Europe think that they were going to be here more about tax. And not that certainly new tact as it burned by it scaling back of some of these tax breaks and tax credits to that today. Means that a business group and more in Texas. All right idea on I have two and spend twenty years in television news. Coral eleven years here and every session of the legislature is starting 1978. Came the word ohm good news the bad but that the budget problem. We're gonna hit the hip hiring kitchen and we have to make health care system. And at the end of this session with whom actually went. Would couple a little bit to end and we broke some other breed sources in this like pointed what was sound. It is clinched the final who can't a dims the ball. Art Kim reduced continue forever teaching that came in and around the world. Emulated the if you believe. Jay Darden is going to be the chief budget architect that it torture administration. And Jumbo operatives that are there out of maneuver the that are that are. Responsibly rated there's there's no world to turn. It started to make our decisions and oh yeah and watch you in the it certainly seems that way in you know we've we've been injury years out on together but it's changed. That that it says while it. To try to to Whittle down. The standing in and try to find some some new revenue. It's not going to be an easy situation I mean it would be taxed Greg sitting there there there are many many of these and breached taxed Corey he starts credit rebate would have you. There's a group that wants to protect it serenity on these little many battles plane now. Especially for further business lobby is going to be a lot like it wasn't quite a change. With you know these these kind of decisions on board to make there in the business our anger and bitterness taxpayers. They receive some some others play well as well that. That means that repaired right now that incoming administration. Is that it they want. And this and that they're gonna. Tell a true. About the budget. About revenues and spending no matter how painful it is and they wanna do it about partisan perhaps and there's an attribute things that we. Are continuously here but I mean like psychology. You've been around long enough and that. We stood here before we've we've been up on the new administration all our problems. We're struggling NC. Exactly what holes and then different systems around it is that those tests the telltale signs. Are gonna come sooner or later we're gonna come barriers and then we. Jerry did I don't go away god stood at 2200. And grown a question. Come at right guard in about a boarded talk to Jeremy out form issue. He's got a whole lot better knowledge of the subject and 22 and 01 that eats up. Well. Abortion legislators could read some. Of the tags and of chords the comment sections of applaud. Before they go into the session as I didn't formatting in the direction that cool and they're gonna become or greater. Obama those that dead understand what's cool about brute much more of them Jerry up Jeremy dale. Publisher and drew of politics we. A Jeremy bitter kind of strange question but I have. State treasurer. Kennedy on on a regular basis and over the leaders hugely. His console lives to console and con products and organization. To get tax breaks and give subsidies. Maria heads up all numbers often time you would take away pretty large production or big for a of the U state budget or do you think we use to you that is that something. They're going to do and if they did it would really make a difference. All right so you know triggered attendee and state represented the ritual. It area. At. Continue actually come to the legislature is that as a perennial issue of the sport for years. 22 tie at contracts these consulting contracts. Are home you know this this process started out legislation started well. With a pretty broad base. They would they wanted to cut it straight percentage up the top and then. In did Jindal vetoed it and came back and Mary exclude some contracts engine will retail partners and that's what on all the years. It probably came down to the senate are welcome to proposal that there was an actor. I cheer but I think you know that that's a good point growing number that's what has spilled that circus. An edit news the other. Even though we have a Republican led led to. A governor. The pats a year there are these ideas that were adopted out to center. But it can make it past the governor steps for whatever reason are of epic that contract and did it accounted. The administration lost some control. Over that aspect. The government of awarding of contracts not a power they just didn't want to get well. Around the and also they'll pop on our church our but the government rationed. I think with a huge sums of movement on that but it you know. As I hate to say that that's that's on that one down in the problem but at that point. In or you're gonna need just. Have a gaggle. Of ideas like that. Two. Make a different right under there and here pretty. Breezing it about Roma. At a breaded twice had no idea of the true. It's stood that are between Cruces state sales tax by blowing the enemy. We'd make up sell them out and fifteen million dollar. Have you heard that discussed and and if so bad that seems like. I know would have picked retail Roland and those that sell retail would not born. But that would seem like one of the lesser painful ways of raising revenue wouldn't. Yeah I mean that's that's something that went over to the order of law and order. In terms is that look at the options or you know that's. That's a much easier ways it took to go about it and I happen to. Or did did take a deep dive into all these various tax credits and rebates. And sort of detriment that it and putting back plate. Portion of the Dolly Parton. That was removed from the government contract the money from the state. That's being discussed as well. It's. I get that kind of the easy way out and and and and an intellectual especially if you don't like to have but it. Mean everything on the table right now and until that they don't. Mean. Rome is as difficult to know exactly who series about boy it. And and look will there is in the legislature to make these attic. Drastic changes. Better get. Constituencies at stake holders that war protect them alone. There also wonder to what the governor does this year has many options. Now they literally pocket here in it and they get specific are these brought these. Issues good. You would think who are possibly going on now. Which would perp walk on demonstrators but. And as a comic Communist it's right on top of that figure where we were were going to be need to eat this stuff within the next ten days or how much. No boos though hardly ever group's mobile one would true good field. Can they get through this session with the Al raising taxes or is that again. I think I think things may be able that a close the current budget year shortfall America chameleon. What without increasing taxes that. I don't think he did you get out of the regular session and the special session rather than actually sweeter than it would without. Haven't our taxes and what operate our taxes I'm talking about. Alone. Or there it's changed felt taxes or the rolling back tax credit. My things we are the Republican legislature to agree to just let me. Better and let you know does. Have a change our own but it up and I'll keep mine too is that even if you do. Inactive. The new tax or some of these exchanges. There's a question of win monies are coming here. So you take these are your rights are human peace and changes during the regular sessions. But money does come into week seventeen when that. Well that's the start of 1718 does well year in the back end action years. You know lawmaker that are part of waited to generate money. Now. Or implement drastic price. That's describe him that your vote. Again strong feelings are pothole in the do we get troops. But this. He noted that the that your that your teacher. Or court. Last week and our premier Eric the ball up admiring her body wouldn't look at these billions ball. Well twelve billion dollar loan Jeremy. A during the by troops session that you would. Like to have you back about 3400 tot and so I would have what is so by the time thank you so much have agreed you. The Jeremy Alfred publisher editor local politics weekly. Back Dublin road yelled brigade celebrity real world five Marie at. I. In. I'm at sympathize with everybody says new mute act I'm with the I have I don't know but campaign anymore. But sometime and we did. I get confused by the would we thing. Somebody can in some nude text called me if I'm right but moment. Election is getting ready to builders already building hours build. Eighty million dollar reply it's lazy river approved in the shape of Ellen Hume. And I've talked to friends of mine that children going goes through an uncle. How can legislate and think about cutting money from diary education. And the good good in eighty million dollars Rupp who and they have the age they're three different pay him. They're able to make an honorable in the legislature would you borrow and peered out of 10200. Dollars a semester of their pay. Outs of both movements are you volunteered paid eight million blood only a couple of hundred no I mean a couple of hundred. And my question words. Well if you do and how acts a couple of hundred blog for some mass culture. To bring in eighty million dollars worth of each deeds did cheat chart children. Would you have said no new taxes. That's where. The conflict seems to be to me he would if it's. Morgan for the saves money for pulled Woodson do Cuba money braves were bought him a minute. Double dubbed el brigade celebrity media mogul by three.