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Content Tagged As borrowing

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  • Audit: Louisiana borrowing maneuvers increased state debt

    February 15, 2016 11:56 AM

    BATON ROUGE - A new audit says Louisiana's borrowing practices during former Gov. Bobby Jindal's administration will cost the state millions in extra interest payments over decades. Legislative Auditor Daryl Purpera's office says in its report, released Monday, the debt payment maneuvers used since 2011 helped get quick cash for... more »
  • Louisiana to use $255M short-term loan to finance projects

    December 17, 2015 2:56 PM

    BATON ROUGE - Louisiana will use a $255 million bridge loan to pay for ongoing construction projects, amid deep state budget troubles that could make traditional long-term borrowing more expensive. The Bond Commission and the joint House and Senate budget committee agreed Thursday to use short-term financing to keep... more »
  • US consumer borrowing hits another record in June

    August 7, 2015 3:35 PM

    WASHINGTON - The Federal Reserve says U.S. consumer borrowing hit another record in June, good news for the American economy. The Fed says Americans piled on another $20.7 billion in debt in June, bringing total consumer borrowing to a record $3.42 trillion. In June, borrowing in the category that includes... more »
  • Treasury proposes less borrowing

    August 3, 2015 9:00 PM

    WASHINGTON- The treasury Department proposes borrowing the lowest total in eight years at $552-billion. It would represent of drop of almost 18 percent from last year's $670-billion. It'll be the smallest amount the government has borrowed since 2007's $150-billion. A string of record deficits started a borrowing surge... more »
  • Financial adviser: Louisiana moving nearer to its debt cap

    March 19, 2015 4:20 PM

    BATON ROUGE - Louisiana's financial adviser is warning that the state is edging closer to its debt ceiling and will need to tightly manage construction spending to stay under the cap. Lamont Financial Services Corp. provided an update Thursday to the State Bond Commission about the state's debt load. Gov.... more »
  • US consumers increased their borrowing by $11.6 billion

    March 6, 2015 2:18 PM

    WASHINGTON - Consumers increased their borrowing in January at the slowest pace in more than a year with borrowing on credit cards actually declining for the second time in the last three months. The Federal Reserve reports that consumer borrowing expanded $11.6 billion in January following a $17.9 billion gain... more »
  • Louisiana to save millions by refinancing state debt

    January 23, 2015 1:41 PM

    BATON ROUGE - Louisiana has refinanced $649 million in highway project borrowing to take advantage of lower interest rates. Treasurer John Kennedy's office said Friday that the refinancing, done this week, will save the state $109 million over 26 years in lessened interest payments on the debt. Under state law,... more »
  • Books balanced for last La. budget, with borrowing

    August 26, 2014 12:10 PM

    BATON ROUGE - The books on Louisiana's last budget year have been closed, but with a bit of borrowing from this year to make the numbers work. To fill gaps in the budget that ended June 30, the treasury had to dip into dollars slated to pay for state agency... more »

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