Content Tagged As deficit

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  • Jindal administration working to close budget gap

    December 11, 2014 12:10 PM

    BATON ROUGE - Gov. Bobby Jindal's administration has started sifting through agency budget proposals as it works on a plan to close next year's $1.4 billion shortfall. But Commissioner of Administration Kristy Nichols says the hole isn't quite as large as it appears. About $200 million is tied to inflationary... more »
  • Job cuts, fund sweep used to close budget gap Play Video

    November 21, 2014 3:06 AM

    BATON ROUGE - Governor Bobby Jindal's administration plans to use a combination of hiring freezes, open position cuts and extra funds such as TOPS money to fill a $180 million gap in the state's budget. Commissioner of Administration Kristy Nichols said the plan reduces costs across state agencies while... more »
  • La. tax amnesty program estimates raising $169M

    November 20, 2014 2:53 PM

    BATON ROUGE - Louisiana's latest amnesty program for delinquent taxpayers is expected to bring in $169 million. That's more than lawmakers included in this year's budget, but not enough to close a midyear deficit that has emerged since then. The Department of Revenue announced the tax amnesty program's projected haul... more »
  • US pension insurer ran record $62B deficit in 2013

    November 17, 2014 11:07 AM

    WASHINGTON - The federal agency that insures pensions for about 41 million Americans saw its deficit nearly double in the latest fiscal year. The agency said the worsening finances of some multi-employer pension plans mainly caused the increased deficit. At about $62 billion for the budget year ending Sept. 30,... more »
  • Lawmakers wait for answers on budget surplus question Play Video

    October 17, 2014 6:28 PM

    BATON ROUGE - State lawmakers have decided to put the budget numbers in the hands of the auditors after taking no action at the joint budget committee meeting Friday. Whether the state ended its year with a budget surplus or deficit depends is unresolved, so the committee decided to... more »
  • Credit agency calls canceled amid surplus dispute

    October 13, 2014 3:20 PM

    BATON ROUGE - Treasurer John Kennedy says updates with the state's credit rating agencies were delayed because of questions about whether Louisiana ended its last budget year with a surplus or a deficit. Gov. Bobby Jindal's top budget adviser, Kristy Nichols, says the state closed its books with a $179... more »
  • Budget axe swings, takes out police and fire positions Play Video

    July 22, 2014 10:25 PM

    BAKER - Six positions were cut from the city of Baker's budget Tuesday, two firefighters and four police officers. The cuts will help balance the budget that had a near million dollar deficit. The move was approved by the council when it backed the balanced 2014-2015 budget. "We're... more »
  • TSA fees set to increase Play Video

    July 22, 2014 10:40 AM

    WASHINGTON, D.C. - If you thought your last flying experience was bad, it could be getting worse. The TSA is set to double and even triple the fees you pay to fly. The raised prices were mandated by Congress and will automatically be added when you book your flight.... more »
  • Budget cuts push cops to look for new jobs

    May 30, 2014 10:16 PM

    BAKER - Baker police officers have applied for new jobs with citywide budget cuts possibly coming soon. Two full-time patrol officers have already been cut from the Baker Police Department, and Baker Police Chief Mike Knaps believes more cuts are on the horizon. The department's questionable future has some... more »
  • Louisiana public defenders struggle financially

    May 12, 2014 2:26 PM

    BATON ROUGE - More than 40 percent of Louisiana's public defender offices ran deficits last year as they struggled to come up with enough money to handle the cases of people too poor to afford their own attorneys. That was the finding of an annual report released Monday. ... more »
  • Rising tax revenue shrinks deficit

    August 6, 2013 7:30 PM

    WASHINGTON- Higher tax receipts helped shrink the federal deficit to less than half of what is was a few years ago but that's a double-edged sword according to economists. The shrinking deficit will shape the debate in Congress next month to continue, end or modify billions of dollars in automatic... more »
  • Report says immigration bill cuts deficit

    June 18, 2013 4:36 PM

    WASHINGTON - The Congressional Budget Office says a sweeping immigration bill before the Senate would cut deficits by $197 billion over 10 years. The bill would add $262 billion in new spending and tax credits over 10 years, a sum more than covered by $459 billion in increased revenues, according... more »
  • District faced with teacher layoffs Play Video

    April 17, 2013 5:48 PM

    ST. FRANCISVILLE- A number of West Feliciana Parish School System employees were told this week that they were being laid off. At least 14 employees, mostly teachers, received layoff notices effective at the end of the school year. Next year the district is facing a $1.5 million deficit.... more »
  • Obama: Budget shrinks deficits and expands economy

    April 10, 2013 10:18 AM

    WASHINGTON - President Barack Obama is sending Congress a $3.8 trillion spending blueprint that strives to achieve a "grand bargain" to tame runaway deficits. It would raise taxes on the wealthy and trim popular benefit programs including as Social Security and Medicare. The president's budget projects deficit reductions of $1.8... more »
  • Animal shelter could close in Ascension

    March 4, 2013 7:51 AM

    SORRENTO - The Ascension Parish Animal Control Center could be closed if parish officials determine they can't continue to swallow $177,000 in deficit costs each year. The parish operates the control center with a six-person staff on call 24 hours a day to pick up aggressive and injured animals. The... more »
  • Obama stands his ground on fiscal debates

    January 22, 2013 6:56 AM

    WASHINGTON - President Barack Obama devoted one word - "deficit" - to the issue that brought Washington to the brink of fiscal crises time and again during his first term. But it was the paragraph that followed in his inaugural address that foreshadowed what's to come - more hard bargaining... more »
  • Fiscal cliff averted but taxes rise for all Play Video

    January 2, 2013 5:57 PM

    BATON ROUGE - Lawmakers reached a deal last night in Washington, averting the fiscal cliff, which included tax hikes for the middle class. The deal did not include an extension of the payroll tax cut. Beginning January 1st, one tax went up for everyone. It's a two percent increase... more »
  • Moody's pressures Congress to deal with deficit

    January 2, 2013 3:42 PM

    WASHINGTON- Moody's Investors Service says Congress must go beyond its deal this week and come up with a plan to shrink the budget deficit if it wants to keep the U.S. government's top credit rating. The credit rating agency says in a statement that it expects lawmakers in the coming... more »
  • Senate GOP leader: Obama should offer deficit plan

    November 13, 2012 3:28 PM

    WASHINGTON - Senate Republican Leader Mitch McConnell says it's up to President Barack Obama to present a deficit reduction plan rather than a campaign slogan to Congress. The Kentucky Republican said that like House Speaker John Boehner, he is ready to support new revenue as part of a deal that... more »
  • US government runs $120 billion October deficit

    November 13, 2012 1:30 PM

    WASHINGTON - The federal government started the 2013 budget year with a $120 billion deficit, an indication that the nation is on a path to another $1 trillion-plus deficit. The Treasury Department says the October deficit was 22 percent higher than the same month last year. Officials said last year's... more »
  • Kennedy opposes $50,000 pay raise for Citizens CEO

    November 9, 2012 11:44 AM

    BATON ROUGE - Treasurer John Kennedy is urging rejection of a proposed $50,000 pay raise for the top executive of Louisiana's state-run property insurance company. Kennedy said Friday that he's hoping Insurance Commissioner Jim Donelon will refuse to sign off on the raise for Richard Robertson, CEO of the Louisiana... more »
  • House speaker says he'll consider tax increase

    November 7, 2012 6:02 PM

    WASHINGTON - House Speaker John Boehner is offering to pursue a deal with a victorious President Barack Obama that will include higher taxes "under the right conditions" to help reduce the nation's staggering debt and put its finances in order. Boehner tells reporters a day after the president's clear re-election... more »
  • Group of major CEOs urges tax hikes, spending cuts

    October 25, 2012 1:55 PM

    WASHINGTON - CEOs from more than 80 major U.S. companies are pressing Congress to reduce the federal deficit by raising taxes and cutting spending. With a sea of red ink confronting the nation, the deficit and how to tame it has become a looming theme in the presidential campaign. The... more »
  • BREC golf courses under review after deficit Play Video

    October 24, 2012 5:43 PM

    BATON ROUGE - After a consistent deficit, the seven BREC golf courses are under review by Baton Rouge Parish Recreation and Park Commission officials. The review could bring some changes, including the "repurposing" of one or more courses. BREC Communications Director Cheryl Michelet says one course could be turned... more »
  • Federal deficit tops $1 trillion for fourth year

    October 12, 2012 2:14 PM

    WASHINGTON - The federal budget deficit has topped $1 trillion for a fourth straight year. But the deficit for the just-ended 2012 budget year is $207 billion less than last year. The deficit totaled $1.1 trillion for 2012. The government's revenue was boosted by a modest improvement in economic... more »
  • CBO tallies 2012 deficit at $1.1 trillion

    October 5, 2012 12:43 PM

    WASHINGTON - A new estimate puts the deficit for the just-completed 2012 budget year at $1.1 trillion, the fourth straight year of trillion dollar deficits on President Barack Obama's watch. The result was a slight improvement from the 2011 deficit of $1.3 trillion. The bleak figures from the Congressional Budget... more »
  • National debt hits $16T; GOP critical

    September 4, 2012 4:36 PM

    WASHINGTON - The national debt has topped $16 trillion as chronic government deficits have piled more than $50,000 worth of debt onto federal ledgers for every man, woman and child in the United States. Barack Obama's GOP rivals used the grim but expected news to blast the president for the... more »
  • Jindal hoping for more revenue to fill budget gap

    July 17, 2012 5:42 PM

    BATON ROUGE - Even with $523 million in announced health care cuts, Gov. Bobby Jindal's administration has slashed only two-thirds of the spending needed to close the entire gap in Louisiana's Medicaid budget. The administration is banking on better-than-expected revenue projections to close the remaining budget hole. If that doesn't... more »
  • House committee to unveil plan to fill state's $211M deficit

    May 1, 2012 8:14 AM

    BATON ROUGE - The House budget-writing committee is unveiling its plans today for filling a $211 million deficit this year, after working behind the scenes with the governor's office on ideas for plugging the gap. The Appropriations Committee also is expected to rework next year's $25 billion budget proposal to... more »
  • House approves Republican deficit-cutting plan

    March 29, 2012 2:43 PM

    WASHINGTON - Republicans have pushed an election-year $3.5 trillion budget through a divided House that showcases their plans for trimming federal deficits and contrasts sharply with how President Barack Obama and Democrats would tackle the nation's fiscal problems. The GOP package would revamp Medicare, slice everything from food stamps to... more »
  • Lafayette budget deficit stirs debate

    March 28, 2012 8:20 AM

    LAFAYETTE - Next year's Lafayette city-parish government budget might need to be $5 million leaner. A discussion on Tuesday about the need for two new fire stations expanded into a debate over how the administration and council will find the estimated $5 million in new revenue that might be needed... more »
  • CATS to run out of money by July Play Video

    December 21, 2011 8:22 AM

    BATON ROUGE - East Baton Rouge Parish's public transit board says that if it doesn't find more financing, buses will stop rolling next summer. The Advocate reports that the CATS 2012 operating budget of $9.5 million only covers half the year. Board members pledged to try to find more... more »
  • Official: Dems reject latest GOP deficit offer

    November 18, 2011 2:36 PM

    WASHINGTON - A congressional official says Democrats on the deficit-cutting supercommittee have rejected a last-ditch offer from the Republicans that would curb deficits by $545 billion over the next decade. The latest development raised serious doubts about the 12-member bipartisan panel reaching an agreement by Wednesday's deadline. Democrats... more »
  • Democrats, Republicans far apart on deficit deal

    November 16, 2011 4:21 PM

    WASHINGTON - Members of Congress' special deficit-cutting "supercommittee" are expressing pessimism over the prospects they'll reach a deal before next week's deadline. Congressman Chris Van Hollen is questioning whether Republican panel members are willing to negotiate any more on taxes. The Maryland Democrat says he's wondering "whether they've kind... more »
  • Obama urges debt panel to reach for deal

    November 11, 2011 3:12 PM

    ABOARD AIR FORCE ONE - President Barack Obama has urged leaders of Congress' supercommittee to press hard for a deal on slashing the deficit - and not look for an end run around a key enforcement mechanism. Obama spoke to Democratic Sen. Patty Murray and Republican Rep. Jeb Hensarling... more »
  • Federal deficit totaled $1.23T through August

    September 13, 2011 2:44 PM

    WASHINGTON - The federal budget deficit reached $1.23 trillion in August. The third straight $1 trillion-plus deficit adds pressure on Congress and the White House to reach agreement on a long-term plan to trim government spending. The Treasury Department says the deficit grew by $134.2 billion last month.... more »
  • Vitter Holds Forum in Central

    August 9, 2011 5:27 PM

    CENTRAL- Senator David Vitter, R-LA, says the federal credit downgrade should not be a surprise to anyone. He says Standard and Poor's made it clear about the tax cuts needed to avoid the problem. He says S & P asked for $4 trillion in cuts. The debt plan... more »
  • Livingston Parish School Board: teacher layoffs imminent

    February 15, 2011 6:12 PM

    LIVINGSTON - The Livingston Parish School System is under a financial emergency, Superintendent Bill Spear said. The system faces a $10 million shortfall, and over 70 jobs could be lost. The past few years, school systems have been able to avoid layoffs through attrition, but the lack of state... more »
  • Community gives CATS feedback on route/rate plan

    January 4, 2011 4:53 PM

    BATON ROUGE - The Capital Area Transit System, or CATS, heard from the public Tuesday night about its plan to fill a budget deficit by cutting routes and adding rates. The agency is facing a $1.2 million hole in its 2011 budget, and are proposing to get rid of... more »
  • Obama to tackle deficit in State of the Union

    December 23, 2010 11:15 AM

    HONOLULU - The White House says President Barack Obama will use his upcoming State of the Union address to focus on the nation's deficit. Spokesman Robert Gibbs says the president's advisers are looking through the recommendations from Obama's deficit commission, though he didn't say which proposals the president supports. The... more »
  • CATS approves budget with $1.2 million deficit

    December 14, 2010 10:21 PM

    BATON ROUGE - The Capital Area Transit System has approved a budget that's short more than $1 million. CATS Board Member and Metro Councilwoman Donna Collins-Lewis says she abstained from the vote because public hearings on the budget weren't held yet. Lewis says CATS plans to go to the... more »
  • Jindal proposes five new fixes for budget

    December 9, 2010 9:46 PM

    BATON ROUGE- The governor says the state could find hundreds of millions of dollars for next year's budget in the sale of property, prisons, insurance and lottery proceeds. He says the extra money could take cutting-pressure off of higher education and health care. Bobby Jindal pitched those ideas to... more »
  • Citing deficit, Obama freezing federal worker pay

    November 29, 2010 11:18 AM

    WASHINGTON - President Barack Obama has announced a two-year pay freeze for federal employees, saying the step is necessary to help bring the federal deficit under control. The freeze would apply to all civilian federal employees but would exclude military personnel. Obama says the sacrifices of limiting government spending must... more »
  • State board, commission appointees often big donors

    November 19, 2010 5:45 PM

    BATON ROUGE - It is not uncommon for Louisiana governors to appoint political backers and campaign donors to state boards and commissions. Now some are questioning that practice as the consolidation and elimination of the panels is considered. Lawmakers will examine each of these groups during committee meetings expected... more »
  • MFP shortage could solidify federal money switch for schools

    November 15, 2010 9:38 PM

    BATON ROUGE - An increase in public school students means an increase in the state's money woes. There are 9,000 more students in classrooms than the state planned for, and because school districts get paid per-student, the state now has to find $42 million to pay for them. The... more »
  • Cost-of-living reduction plan doesn't have support

    November 10, 2010 12:13 PM

    WASHINGTON - Leaders of President Barack Obama's bipartisan deficit commission are proposing to reduce the annual cost-of-living increases in Social Security. It's part of a sweeping proposal to wrestle $1 trillion-plus budget deficits under control. The proposal would also set a tough target for curbing the growth of Medicare. And... more »
  • Lawmakers recognize $107M deficit

    October 22, 2010 11:21 AM

    Lawmakers have formally recognized the state's $107 million deficit, starting a 30-day clock on when Gov. Bobby Jindal must make cuts to rebalance the budget. Jindal isn't expected to take that long, because his budget office has already given state agencies the dollar figures they must slash from their... more »
  • LSU submits $2.2 million mid-year budget reduction plan

    October 15, 2010 6:13 PM

    LSU has submitted its plan to meet a $2.2 million mid-year budget reduction after a $108 million deficit in last year’s state budget. Officials said the University will accommodate the reduction with tuition and fee revenue coming from a higher-than-expected enrollment this fall. “Had there been no reduction in state... more »
  • Government reports $1.3 trillion budget deficit

    October 15, 2010 1:07 PM

    The Obama administration says the federal deficit hit a near-record $1.3 trillion for the just-completed budget year. That means the government had to borrow 37 cents out of every dollar it spent as tax revenues continued to lag while spending on food stamps and unemployment benefits went up as the... more »
  • Federal budget deficit hits April record

    May 12, 2010 2:11 PM

    The month of April was not a good one for the U.S. economy, as the federal budget deficit hit an all-time high. Treasury Department officials say the April deficit soared to $82.7 billion, the largest deficit ever for that month. Economists say the lack of income tax payments... more »
  • Rapides schools eye options to avoid layoffs

    April 29, 2010 6:24 AM

    Rapides Parish school officials are shaping a plan to help avoid layoffs. Superintendent Gary Jones said he is fine-tuning details of a plan that aims to save money while sparing employees' jobs. The plan centers on a 10 percent cut from the general fund that will affect at least 30... more »
  • Budget rebalancing on slower track

    April 23, 2010 5:51 AM

    Legislative plans to fast-track the closure of a $319 million deficit in this year's budget are being slowed. House Speaker Jim Tucker says that's because legislation near final passage in Congress impacts both this year's and next year's budget plans. The congressional bill would extend part of the federal stimulus... more »
  • Jindal proposes cuts to fill deficit

    April 16, 2010 12:31 PM

    Gov. Bobby Jindal proposes cutting about $60 million from state agencies and public colleges and tapping into an array of one-time funds to close a $319 million budget deficit. The $29 billion budget must be rebalanced before the fiscal year ends June 30. Jindal unveiled his recommendations Friday. ... more »
  • Gov. Jindal to unveil deficit plan today

    April 16, 2010 8:50 AM

    Governor Bobby Jindal will discuss how he proposes to close a $319 million budget deficit. Governor Jindal plans to unveil his recommendations, and lawmakers will begin considering them next week. The $29 billion budget must be rebalanced before the fiscal year ends June 30, but with only 10 weeks remaining... more »
  • Lawmakers working to close deficit within 2 weeks

    April 15, 2010 3:32 PM

    House Speaker Jim Tucker said lawmakers want to close the state's $319 million deficit within two weeks, hoping to tap unspent funds in state agency accounts while seeking to avoid furloughs of state employees. The $29 billion budget must be rebalanced before the fiscal year ends June 30. But... more »
  • Budget deficit gets a precise number

    April 14, 2010 8:04 AM

    Update: The Revenue Estimating Conference made a formal estimate of the deficit for the current budget year that ends June 30. The projected deficit for remainder of 2010 fiscal year is $319 million. The new fiscal year starts July 1st. The latest deficit presents a problem since it's happening so... more »
  • Baton Rouge delegation meets with Gov. Jindal

    December 21, 2009 5:15 PM

    Baton Rouge area lawmakers filed into the governor's mansion early this afternoon. They met with Governor Bobby Jindal to help develop a plan for a $248 million dollar budget shortfall. The deficit is mostly because of low tax revenue. Some lawmakers say the state should have made better... more »
  • West Feliciana looks to raise money for schools

    November 18, 2009 4:15 PM

    The number two school district in the state is facing financial woes. The West Feliciana School System is facing a $1.2 million budget deficit. Administrators are trying to find a way to raise money to make up for a lack of tax revenue and increase in expenditures. The... more »

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