Per Capita Debt In Louisiana Hits A New High
BATON ROUGE, La. (AP) — Louisiana's debt load has risen each of the last six years, with the state hitting a record this year for how much debt it owes for each state resident.
A report to the state Bond Commission on Thursday showed Louisiana currently carries a debt load of $1,545 for every man, woman and child in the state. That's an increase of $149 per person from 2013.
The per capita debt has risen nearly every year since Gov. Bobby Jindal has been in office, according to the Bond Commission data. It's reached a rate that tops the state record of $1,369 set in 2007 during former Gov. Kathleen Blanco's term.
Louisiana borrows money through bond sales to investors to finance construction projects, like road work, building repairs and economic development initiatives.
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