One effect of Louisiana states budget deficit in 2016 was that the state tripled its taxes to meet the deficit.
<h3>What is Budget deficit?</h3>
A budget deficit is a situation where expenses exceed revenue and indicate the financial health of a state or country.
Budget deficit usually occurs when the government is unable to meet up with its financial obligations due to a sharp drop in revenue.
This can be influenced by several factors such as a drop in oil revenue as in the case of Louisiana.
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