Louisiana’s per capita debt load continues to rise each year

Louisiana
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BATON ROUGE, La. (AP) – Louisiana’s debt load has continued its steady rise, hitting another record for how much the state owes for each resident and outpacing the national average.
    
That’s according to the latest debt report presented Thursday to the Bond Commission.
    
In 2017, Louisiana carried a debt load of $1,558 for every man, woman and child – an increase of $19 per person from a year prior and a 30 percent rise from a decade ago.
    
Boosted borrowing levels, combined with pension and other state debts, led to a steady march upward of the per capita debt level during former Gov. Bobby Jindal’s tenure. The trend has continued under Gov. John Bel Edwards.
    
The report also shows Louisiana edging closer to its debt ceiling, a situation that will crimp financing for ongoing projects.

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