Economy

Americans In Debt Deeper Than Ever

Feb 19, 2018
Mike Lawrence / Flickr.com / https://creativecommons.org/licenses/by/2.0/

Many Americans are swimming in debt and getting in deeper than ever. One report suggests total household debt has risen to 13-trillion-dollars for 2017.  Louisiana appears to be America’s capital of past due debt, with almost half of its residents in debt that has gone into collections.  Professor of Economics at Xavier University of Louisiana Dr. Jose Bautista says a lot of workers aren’t making enough money.

 

Drax Moves Headquarters To Monroe

Feb 9, 2018
GotCredit / Flickr.com / https://creativecommons.org/licenses/by/2.0/

Drax Biomass is relocating its headquarters from Atlanta to Monroe, in what Governor John Bel Edwards is hailing as another big win for Louisiana’s economy. Drax already operates two wood pellet manufacturing facilities and a shipping operation in the state. Monroe Chamber of Commerce President and CEO Sue Nicholson says that means 150 good paying jobs are on the way.

 

Nicholson says Monroe’s economy is booming, and having ULM, Grambling, and Louisiana Tech all within 45 minutes provides companies with a highly educated pool of workers to choose from.

 

Senator Brings Attention To Tax Reform

Sep 27, 2017
401(k) 2012 / 401kcalculator.org / https://creativecommons.org/licenses/by-nc-nd/2.0/

Now that Senate GOP leaders have decided not to vote on a bill that would repeal Obamacare, Louisiana’s Junior Senator John Kennedy says it’s time for Congress to focus on tax reform. He says cutting taxes is the only thing that will get the economy moving again…:

Kennedy says citizens are taxed on just about every single thing they do, and over-regulation is strangling the economy. He says his goal is to implement tax cuts, both for middle class Americans and for businesses, by November…:

businessinsider.com

Falling oil prices are causing companies to cut spending this year.  One of the latest moves is by Lafayette-based Stone Energy Corporation.

This week, Stone announced it plans to cut spending by more than half of what they spent a year ago.  Louisiana Oil and Gas Association Vice President Gifford Briggs say continued low prices are forcing the industry to scale back.  "They (oil companies) are doing what they feel they need to do, it's not unexpected," said Briggs.