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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.

Paul Alexander November 14, 2012 at 02:05 PM
G, BTW pal...I don't even LIVE in Connecticut (Hope to have a home there soon enough) and I am sure as hell not going to STFU.
Paul Alexander November 15, 2012 at 04:45 PM
Connecticut loses 200+ NEW, high paying Pratt & Whitney jobs... “Gov. Scott, United Technologies CEO to announce new Pratt & Whitney jobs in Palm Beach County” http://www.palmbeachpost.com/news/news/gov-scott-united-technologies-ceo-to-announce-new-/nS7Bc/ These are jobs that COULD have gone to the West Hartford plant Governor Malloy. Low taxes vs high taxes Business friendly vs business hostile Union vs non-union Figure it out already before Connecticut implodes.
Paul Alexander November 16, 2012 at 02:01 PM
“Pratt & Whitney to hire hundreds of engineers in Palm Beach County over next 8 years” http://www.palmbeachpost.com/news/business/employment/gov-scott-united-technologies-ceo-to-announce-new-/nS7Bc/ “Pratt & Whitney also considered expanding in Connecticut, where it assembles engines, but decided to hire here instead.” If you live in Connecticut and are an unemployed aerospace/mechanical engineer or engineering technician then consider moving to Florida. Florida is a right to work state. (Great for hard working employees and REALLY great for business owners) There is no state income tax. ZERO. There is no state estate (death) tax Your property taxes will be less than half what your pay in CT The infrastructure isn’t crumbling The weather is fabulous year round Florida is a “Will Issue” concealed carry permit state and by law you will have your permit within 90 days without any need for permission from your local law enforcement agency. I’ve lived many years in both Florida AND Connecticut. Life is ten times easier here. Vote with your feet against the harm being caused to your welfare by Connecticut politicians and unions.
Veritas vos liberabit November 16, 2012 at 02:14 PM
Wonderful, so can we assume that you are staying, and will stop annoying Newtown residents?
Paul Alexander November 16, 2012 at 06:01 PM
Well, I won’t give up my Florida residency/domicile/homestead if that’s what you mean. 30 years ago while I was in flight school in Pensacola a smart guy advised that I drop my Connecticut residency and adopt Florida as my state of residence. It’s saved me a small fortune over 30 years. But, yes, owning a summer home where I grew up in Newtown is still part of the plan. Maybe we’ll be neighbors Sully. I’ll invite you over for some beers and target practice. Oh...and the folks who write and tell me to run for office don't seem too annoyed. Maybe I'll run for assistant dog catcher.

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