How did New Orleans’ budget crisis get so bad, and what’s the way forward?

Earlier this week, the Bureau of Governmental Research (BGR) released Beyond the Ballot: Analyzing Spending and Impacts of the 2019 New Orleans Bond Authorization. The report finds that the City of New Orleans raised a total of $589.6 million for capital improvements through two bond issues. It used the bond proceeds to fund a wide range of public facilities and equipment, infrastructure, and housing needs. The broad spending flexibility granted by voters in 2019 allowed the City to meet emerging capital priorities and cost inflation related to the COVID-19 pandemic. Public facilities, such as the jail and the Sewerage & Water Board’s power complex, required greater City investments. But the City’s spending revisions left other projects in search of resources. Beyond those, there are other unmet capital needs. Future bond issues, such as the upcoming November 15 bond propositions, will have to take up the slack. Becky Mowbray, President and CEO of the Bureau of Governmental Research, Stephen Stuart, Vice President and Research Director at the Bureau of Governmental Research, joins Newell to talk about it.