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.
Unemployment rate in CT is now 9% and going up. Taxes went up 40% on middle income people. The pension liabilities are now $60 Billion. And Governor malloy has legistalated no chnage for anopther 11 years!!!! And that is numbers with a 'B'. The Governor spent millions on giving tax rate cut to an insurance company in Hartford, and now that company is laying off employees. Governor spent millions moving a company from Westport to Stamford. The question is not when we will fall off the fiscal cliff--it is how hard we will fall?
Bart has forgotten one important question. Why does Ct. need a road expansion project to allow buses to travel from New Britain to Hartford? I think we should make Mr Malloy ride Metro North during a rain storm while the water leaks down upon him. That is if the trains are not broken down at the time..
This GOVERNOR and his tax and spend policy is killing our wonderful state. Just the facts people. Just the facts.
What will he do? What will his party do? And what will we do with the $60 Billion in unfounded liabilities he is hiding?