Treasurer Schroder Comments On State Financial Upgrade

Louisiana State Treasurer John Schroder talks with 101.7 / 710 KEEL's Robert J Wright about the recent financial upgrade by Moody's Investor Services from negative to stable and what this will mean for Louisiana's financial soundness.

Schroder tells KEEL listeners that although the Moody's upgrade is a step in the right direction for the state, giving it the ability to issue general obligation bonds at a lower interest rate, it is also necessary that Louisiana make structural changes to its budget process. From WGNO in New Orleans:

This is good news, but we have much more work to do to implement structural reforms to our budget,” State Treasurer John M. Schroder said. “The fiscal cliff was mainly solved on the revenue side, now it’s time to get to work on the spending side of the problem. Extending temporary taxes for the next seven years with no real structural reforms doesn’t sit well with me.

To hear Louisiana's Commissioner of Administration Jay Dardenne give his thoughts on the Moody's move, JUST CLICK HERE!