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Source: houmatoday.com Posted By: Jennifer G..4164 days ago

The bottom fell out of the oil market in the early 1980s, and states like Louisiana and Texas, which benefited from oil and gas revenue, suffered their first negative impacts: lost jobs, commerce shutting down, families moving to other regions.

The states reacted quickly. Louisiana’s constitution has only two budget areas that can be selectively cut — health care and higher education. Everything else is constitutionally protected, unless the Legislature chooses to cut up to 5 percent across the....

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