This article was originally published in The Center Square.
Last year, personal income growth was 0.0%, the lowest in the country. And Louisiana had the third highest net out-migration in the country. Louisiana is in desperate need of a comeback.
Current so-called “solutions” to the problem are unlikely to work.
The Legislature increased spending to an unnecessary extent, ignored calls from some to use their surplus of funds from 2022 to go to a “rainy-day fund” in the event of unforeseen circumstances, and have spent as though we expect our population to grow in the future (which is very unlikely given previous trends).
Louisiana needs real solutions that actually increase personal income, bring people into the state (or at the very least, keep those who are already here) and encourage meaningful employment and entrepreneurship to the area.
