.

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.

Pas the Buck November 13, 2012 at 04:30 AM
Ah Malloy is just following in N0bmas footsteps Reward public service unions Give tax breaks to BIG business Build a high speed train from New Haven to no where for no ridership Maybe he will raise income taxes, sales tax, gasoline tax, taxes on air, water, oxygen, carbon, breathing Naaaaaaaaah he'd never do that - but for sure he will raise union wages, pensions, longevity bonuses What a great job he's doing. Blame it on Bush II, Bush I, Regan, Warren Harding, Lincoln, Washington, Stalin, Daniel Boone, Chavez, Castro, etc ad finitum
Joseph Machnik November 13, 2012 at 11:08 PM
Once he taxes all the businesses out of the state how is he going to support all of his high salary buddies in Hartford? Its politics as usual.
Archie Bunker November 14, 2012 at 02:28 AM
Chairman Mao-Loy and his comrade Democrats will continue to dig us into a deeper hole until everybody leaves. Without the makers, the takers in the slums of our big cities will be left to riot and kill each other for their ObamaPhones. Connecticut used to be a great place to live - not any more. Last one out please close the door.
Tom Kelly November 14, 2012 at 03:09 AM
Wow, Arch, that's very clever with the Mao-Loy. Maybe the GOP should hire you for messaging.

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »