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Connecticut's Budget Deficit is Growing

Is the state heading toward its own fiscal cliff?

 

Connecticut's budget deficit is increasing, taking a perilous plunge on Friday that is pushing it toward the $300 million mark, the Connecticut Mirror reports.

While the website questions whether the deficit will force Gov. Dannel P. Malloy to increase taxes - again - to cover continued budget shortfalls, Malloy last week said he would not hike state taxes, according to the Republican-American newspaper. 

The growing state budget deficit, the Mirror reports, is the result of revenue shortfalls that are greater than Malloy administration officials originally anticipated.

Officials in his administration blame the shortfalls on the overall weakness of the national economy. State Republican leaders, however, lay the blame on the weakening effect on the state's economy of the $1.5 million in new taxes the Malloy administration implemented in the last year.

Malloy will present his new budget plan to the General Assembly when it meets in early 2013.

Die Hard November 13, 2012 at 03:42 PM
When a trooper is allowed to take their cruiser out of state for a family vacation, with the the taxpayers paying for gas, something is def wrong!
Cliff November 13, 2012 at 04:21 PM
Your simplistic attempt to compare a family's budget problems to those of the U.S. government indicates an alarming lack of understanding of how our economy works. Fortunately, you don't have any aspirations for government office. Wait- what? Really? Twice?
Jack November 15, 2012 at 01:38 PM
Hey Cliff, read this in the Courant and maybe you'll see how little you know about the impact of CT's failed government! As for your sophmorish insults of Ms. Novak, it's too bad you couldn't say something intelligent about the merits of her analogy rather than demonstrate your arrogance. (http://www.courant.com/news/politics/hc-deficit-malloy-20121114,0,2722730.story)
Jack November 15, 2012 at 01:55 PM
Quoting from the Courant article, you can see the devastating impact of the path we're on and might even go over the cliff, Cliff, before California. Moreover, CT now has the WORST credit rating of all 50 states! Let's all give a hi-five to our Governor and his brilliant team of job creators! Let's go BLUE!!! "The reality is quite alarming," said Conning's Paul Mansour, the report's author. "The state is among the worst in job creation [and] tax revenue growth and has not yet seen a recovery in home prices. It has very high debt and retirement obligations, little budget flexibility and no rainy day fund balance." (http://www.courant.com/news/politics/hc-deficit-malloy-20121114,0,2722730.story)
Jack November 16, 2012 at 04:07 AM
Hello Die Hard, I understand completely what you are saying and it would give me some concern. I just wonder if you are privey to all the facts. My son is a police officer in a NE town (not CT) and he does have a car provided by the town in which he works. He brings it home at night and he does indeed take it anywhere he chooses to go. However, he is on call 24/7 and this car is a literal arsenal and filled with what he believes is necessary for him to carry out his duties if called upon in ANY situation. He takes this perquisite very seriously for what it is intended. However, he is FORBIDDEN to transport any of his family members in this vehicle and as his father, he wouldn't even talk about my "taking" a ride in his "company" car. If what you say is correct, then you are right in your concern about our states laxity and disservice to taxpayers.

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