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 billion 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.

Deborah Netto November 13, 2012 at 05:06 PM
Wyatt, check out the Iquilt project in Hartford. Agenda 21. I suppose you would love to ride on the $500 million busway from NB to Hartford in which you actually have to get off I-84 to get on the busway that travels on I-84. Makes perfect sense, doesn't it. Especially when traffic patterns show no one is going east on I-84, everyone is traveling West. Look it up, don't take my word for it.
Paul Chotkowski November 13, 2012 at 06:04 PM
Mr. Goode & Ms Taylor, thanks for taking a moment out from mindlessly chanting from “Rules for Radicals” [oops should have said communing with Gaia ओं मणिपद्मे हूं ] penned by the patron saint of all Forward Moving Progressive Socialist throughout America, Saul Alinsky. American Marxist never address the issues in a debate [$110 M EITC].They engage in the politics of personal attacks & ridicule. Anyone who disagrees with their right thinking position on radical egalitarianism controlled by properly educated Marxist elites are social deviant, psychologically unstable, and suffering from the 20th century's equivalent of Drapetomania which would require that you lose your autonomy / be commitment to a State run mental institution under politically reliable psychiatric care, à la the CCCP. So please continue on with the Tin Foil Hat theme [good luck finding tin foil by the way]. Just keep paying your taxes and union dues. There are an awful lot of state employees' salaries, benefits, pensions, and retirement health care to pay for and even more disadvantaged victims of America’s racist, bigoted, homophobic, misogynist, colonist past looking for social justice and monetary reparations! Quick before the current fractional reserve banking system collapses! Maybe the Unions can swap SEIU Purple shirts for proper Brown ones [Sturmabteilung], restore social order & build a focused Forward looking socially just Soviet [oops should have said society].
Wyatt November 13, 2012 at 06:44 PM
@Deborah. So now the iQuilt project is some sort of conspiracy too?? What nefarious plot is the iQuit project designed to unleash on us?
Matt Smith November 13, 2012 at 09:04 PM
Good thing the State spent $26 Million so we can now have 7 digit license plates! Boy, I didn't know what I was going to do without those! Another freakin' waste of money.
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