Louisiana Bond Blues Deepen as Rating Cut Seen on Budget Deficit

In Louisiana, home to The Big Easy, closing a budget gap is proving anything but effortless.

With tax revenue from the oil industry falling short of projections, the deficit has swelled to $1.6 billion for the fiscal year that starts July 1. Moody’s Investors Service and Standard & Poor’s say they may lower Louisiana’s credit rating if officials don’t come up with sustainable budget solutions.