State Treasurer John Kennedy visits Rotary

Allison B. Hudson
State Treasurer John Kennedy was the guest speaker at Rotary last Thursday.

Last Thursday, State Treasurer visited Donaldsonville Rotary Club. He spoke to Rotary members about the state’s budget and answered questions from Rotarians.

Kennedy stated that the state of Louisiana needs jobs because we are losing are best and brightest kids.

“They graduate high school and move out of state for school and stay and never return because of high taxes and other reasons,” said Kennedy.

He educated Rotarians about the state’s 26.9 billion dollar budget, which is a 42 percent increase from the last five years.

He said that revenues are declining and he gave reasons why he is against raising taxes. He said if taxes are raised the state would be in disarray, it would not solve any problem we have.

Kennedy also mentioned that the state has over 16,000 consulting contracts spread across the state. He mentioned that most can be eliminated to save money, and eliminating things like this will lead us to becoming a lower tax state.

He also discussed healthcare and retirement issues in the state. He said the state currently has four statewide retirement systems where 17 billion is in accrued liability, which means that this is the amount in short as a state we are.

“Every governor has his or her own style, but we are in a current crisis and we will get thru this crisis, but we have to get started today,” he added.

He ended with saying that the steps we are going to take to down size the budget, we can’t reduce spending by hurting educational institutions.

Pictured is State Treasurer John Kennedy with Rotarians.