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.