Louisiana Treasurer Proposes Paying Down State Debt With Budget Surplus

Louisiana Treasurer John Fleming says the state should use its budget surplus to pay down its debt faster.

Fleming outlined his plan during a visit to Shreveport on Wednesday.

He said the state's retirement systems are the source of most of its debt.

Fleming said the state is making progress reducing its debt load, but needs to speed up the process.

He said Louisiana has a budget surplus of $293 million, and he believes some of that excess should be used for debt retirement.