THE WATCH
It’s Christmas in July for Some Non-Profits in Swampland
The Louisiana State Bond Commission approved over $3.6 billion in financing last Thursday for a long slate of capital outlay projects authorized by the Louisiana Legislature during their unprecedented spending spree in Swampland (the Baton Rouge Capitol) earlier this year. This included over $105 million in cash lines of credit and new long-term debt obligations to finance projects for a select group of well-connected non-profit groups.
Lessons from the 2023 Budget Fiasco— Blind budgeting doesn’t work
Lawmakers approved more than $51 billion in government spending in a flurry of chaotic votes that took place in the final moments of a two-month-long legislative session—but most of the members had absolutely no idea what they were voting on.