forgotston.com

“Watchcat” (a complimentary term) Jeremy Alford has written an excellent report on the fiscal “ticking time bomb” known as the Unfunded Accrued Liability (”UAL”) in our state retirement systems. See Report here.

While others have mentioned the UAL problem Jeremy explains how this massive debt will directly affect you and me. It will mean reduced government services while we pay the same or higher taxes.

Our state constitution mandates that payment of retirement benefits are the first priority on all available state revenues. In other words, all government services would have to cease if it became necessary to use all of our tax dollars to pay retirement benefits.

The UAL has grown from $5.8 BILLION, 25 years ago, to $18.5 BILLION today and this number is estimated to continue to grow exponentially.

The growth of this debt is proof that our elected officials have failed to address or to address adequately the problem.

It’s time to wake up and smell the coffee. Ask your leges what their specific plans are to address this problem.

C.B.

1 CB 7:00 am

Thinking out of the box or in a box

For those looking for creative ways of reducing your business expenses I submit the latest effort by the board members of the New Orleans Regional Business Park.

The taxpayer-funded organization, in order to reduce costs because they have failed in their primary mission of attracting more businesses, has decided to simply stop paying some of its on-going expenses. ( See story here.)

Now, if they decide to stop paying their utility bill, they will be appropriately in the dark.

You can’t make this stuff up!

C.B.

1 CB 7:00 am

Child on outside looking in

It’s impossible not to note the irony of two reports in the recent Baton Rouge Business Report’s Daily Report.

According to the two different reports Louisiana takes better care of animals than children.

We rank 48th (up from 49th) in the well-being of children, but rank 15th in the humane treatment of animals.

Both are important matters, but it makes one question where our politicians’ priorities lie.

C.B.

1 CB 7:00 am