There are turkeys and then there are turkeys.
At this time of year everyone wants the “good” turkeys. These are the ones roasted for Thanksgiving dinner.
And then they are the bad turkeys. Bad turkeys are never appreciated, especially around holidays.
Just days before Thanksgiving a bad turkey has landed in Shreveport.
Moody’s has downgraded Shreveport’s bond rating. It is likely that Standards and Poor will follow suit soon.
What this means is that the next sale of general obligation bonds by Shreveport will mostly be at a higher interest rate. The higher the interest rate, the more money that must be repaid, which puts more pressure on Shreveport finances.
Several factors contribute to the downgrading.
These include the unresolved EPA Consent Decree, the amount of City reserves, and the projected need to raise rates for city services such as water and sewer.
With the mayor and four or five council members running for re-election next year, stringent budget measures cannot be reasonably expected by the Arceneaux administration and/or the Shreveport City Council. The 2026 city budget must be adopted by Dec. 15 and recent amendments suggested by the administration will further tax city financial resources.
Yes, the bad turkey has landed along with the Grinch. Shreveport really needs Scrooge to manage the city finances, handing out lumps of coal versus political plums.
More to come on this breaking news report.
John came to Shreveport in January of 1977 when he was transferred to Barksdale AFB.
He’s been active in Shreveport politics since deciding to make Shreveport his home.
John practiced law for 40 years and he now monitors local politics. He regularly attends Shreveport City Council and Caddo Parish Commission meetings.
John is published weekly in The Inquisitor, bi-monthly in The Forum News, and frequently in the Shreveport Times.
He enjoys addressing civic groups on local government issues and elections.