A report to the state Bond Commission on Thursday showed Louisiana carried a debt load of $1,336 for every man, woman and child in the state as the books were closed for 2012. That's an increase of $18 per person from the previous year.
BATON ROUGE, La. (AP) - The amount of debt Louisiana carries for each state resident rose again over the last year.
A report to the state Bond Commission on Thursday showed Louisiana carried a debt load of $1,336 for every man, woman and child in the state as the books were closed for 2012. That's an increase of $18 per person from the previous year.
Louisiana borrows money through bond sales to finance construction projects, like road work and building repairs.
The per capita debt has grown under nearly every year of Gov. Bobby Jindal's administration, and is nearing the record set in 2007 during former Gov. Kathleen Blanco's term, at $1,369 per person.
Louisiana is near its debt limit. State officials are reviewing ways to restructure debt to keep from breaching the cap.