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Louisiana's per capita debt grows

5 years ago February 18, 2010 Feb 18, 2010 Thursday, February 18 2010 Thursday, February 18, 2010 12:13:10 PM EST in News
Source: Associated Press

Louisiana's debt load has crept upward over the last year, and it will continue to hover near the state's
debt ceiling for decades.

That's the assessment of the latest report, released Thursday,on the "net state tax supported debt" for Louisiana. It was presented to the Bond Commission.

State Treasurer John Kennedy says the debt load will limit big-ticket state projects over the coming years because it will restrict how much the state can borrow for new construction.

But Kennedy says he's not worried the state will exceed its constitutional limit on debt.

Louisiana owes $1,277 for every resident in the state. That's the highest per capita debt load the state's had in decades, except for 2007 when post-hurricane rebuilding and road construction costs
pushed it to $1,369.

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