Where’s Buddy? Wednesday, Feb 18 2015 

LA Constitution

 

Elliott Stonecipher, a Shreveport demographer by trade, is waging a one-man, pro bono, war to uphold our state constitution.

The Caddo Parish Commissioners by creating and then joining a taxpayer-funded retirement system have clearly violated La. Const. Art. X, Section 29.1.

Now, Lege Auditor Daryl Purpera has weighed-in supporting Stonecipher’s contention that the commissioners are unconstitutionally participating in the Caddo retirement system. ( See story here.)

Statewide implications

The intervention of the Lege Auditor has wider implications than merely the Caddo Parish Commissioners.  It will require those who audit the books of other local governmental entities in Louisiana to determine if the part-time officials therein are in compliance with the constitutional mandate cited above.

Recently, I question whether any public servant, elected or appointed, in Louisiana would work to uphold the state constitution. ( See commentary here.) It’s refreshing to know that at least one public entity, the Lege Auditor, has stepped up to the plate.

Where’s Caldwell?

Though Attorney General Buddy Caldwell is supposed to uphold the constitution, to date, he has done nothing, zero, nada to protect the “people’s document” in this matter.

There are several qualified individuals who say they will run this fall to replace Caldwell as AG.  I strongly suggest that they get involved in this issue in their current capacity because this is their constitution too.

Frankly, I’m tired of politicians telling us what they are “gonna do” when elected.  All of the wannabes are attorneys.  One doesn’t have to be the AG to enforce the constitution.  Here’s their chance to audition for the job.

This fall my vote for AG will be determined by performance not promises.

Kudos to Elliott for continuing this fight for all of us.

C.B.

 

“King of Subversive Bloggers” – James Gill
 

The clank you heard… Monday, Feb 16 2015 

end of road

Where the state’s finances are

…was Louisiana’s proverbial fiscal “can” hitting the end of the road.

Friday,  Moody’s, S&P, Fitch, the Big 3 national credit rating agencies, lowered Louisiana’s credit outlook from “stable” to “negative.”

What Jindal didn’t say

Bobby Jindal immediately tried to pour perfume on the manure pile to change the smell (but not the content) by saying that the agencies didn’t lower the ratings on the existing outstanding General Obligation bonds.

Here’s what Jindal didn’t tell you:   They didn’t lower the rating on those bonds because our state constitution gives those bonds first call (even before employee retirement benefits) on all the money in the state treasury.  In other words, if the state went bankrupt those bonds will be paid.

That said, future state borrowing will cost more.

What they really said

Translation of what the ratings agencies said:  Bobby, you and the leges have made a big “number 2” mess in your fiscal pants and we have no faith in your ability to clean it up.   The  next time you come to borrow money, bring lots of extra cash.

Folks, don’t let the leges try to fool you, this is very bad news for us taxpayers and the leges are the reason for it.

C.B.

“King of Subversive Bloggers” – James Gill
 

Kristy Nichols’s “Plan B” Thursday, Feb 12 2015 

kristy nichols

Why is she smiling?

Unfortunately, Commissioner of Administration Kristy Nichols’s imagination failed her.  Louisiana did not win the Powerball jackpot last night  As a result, the revenue shortfall for next fiscal year remains at $1.6 Billion.

However, Kristy has another plan.  This morning she received an email from a wealthy Nigerian who has promised to share his riches with Louisiana.

The Nigerian will deposit $500 Million into the Louisiana State Treasury as soon as he gets the state bank account and routing numbers. The wealthy gentleman also requires $25.00 in cash for handling.  Kristy is sweeping the state funds to come up with the $25.

Today, Bobby Jindal will call Moody’s Rating Agency to ask them not to downgrade the state’s credit.   If Jindal’s efforts to con Moody’s go as well as his recent efforts to con the national media about Louisiana’s prosperity, our credit rating will be reduced to “junk” status.

If a glitch develops in the Nigerian bailout, Kristy has another backup plan.  She will call for a statewide day of prayer.

More as it develops.

C.B.

“King of Subversive Bloggers” – James Gill
 

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