Treasurer slams Jindal’s budget as unbalanced

Treasurer John Kennedy says Gov. Bobby Jindal’s budget proposal for next year is unrealistic and unbalanced. Kennedy says in a column released today that the state will face another round of midyear budget slashing if lawmakers approve the governor’s spending plans for the 2013-14 fiscal year. The Republican treasurer says Jindal’s budget includes “pretend” savings from an unfinished privatization of LSU hospitals and anticipates “inflated prices” from property sales that won’t pan out. He also questions a borrowing plan that would be used to funnel $100 million into higher education and would have to be paid off over years with interest. Commissioner of Administration Kristy Nichols shot back at Kennedy in a lengthy response to the column, saying, among other things, “given his long track record of half-baked gimmicks and his office’s recent miscalculation of the state’s debt, we will pass on his suggestion.” Nichols says “the reality is that the budget is balanced, makes state government more effective and less expensive for taxpayers and continues to help foster an environment where businesses want to invest and create jobs.”