Of False Prophets and Charlatans: The Bobby Jindal way

Gov. Piyush sounds like he went to the same management school as our own Hizzoner:

Here’s how Jindal’s privatization works: OGB fund balance to be broke by fiscal year ’15 after $500M balance in 2012 ~ Louisiana Voice

And to think there are morons in the national media promoting this guy as a presidential candidate.

2 thoughts on “Of False Prophets and Charlatans: The Bobby Jindal way”

  1. Trying to understand why Jindal lowered the payments for the employees which was counting da’ chickens before dey hatched.

    First experience the touted privatization savings and if they actually manifest as predicted then lower the payments .

    Is he trying to buy/win La. votes to run for Senator or is he set to receive campaign contributions from the privatization companies and/or their employees?

    His financial stupidity has me worried what is to become of Louisiana’ s 1 Billion Dollar Medical Complex and when we are finish building it will “they come” ?

    1. Explanation from the linked article:

      Jindal lowered premiums for state employees and retirees. That move was nothing more than a smokescreen, we said at the time, to ease the state’s share of the premium burden as a method to help Jindal balance the state budget. Because the state pays a percentage of the employee/retiree premiums, a rate reduction would also reduce the amount owed by the state, thus freeing up the savings to patch gaping holes in the budget.

      Just like:
      $Spending budget reserves to fund current operations.
      $$Not accumulating funds in bond sinking funds, instead pissing said monies away on current operations.
      $$$Borrowing long term to pay short term expenses.
      $$$$Not having the cash flow to pay for things already purchased, then borrowing short term until you can squeeze Sugar Daddy taxpayer to make it rain to pay off the loans.

      Difference being is that Jindahl’s coming budget disaster (just like Brownback’s in Kansas) is actually a feature not a bug. With this Hizzoner guy the budget shortcomings are a bug not a feature.

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