[BicoastalAnn]

Originally Posted by Beeker2211

Glass Door: Hartford No. 25 For Jobs In America - Hartford Courant

Another list, but another in a trend that puts Hartford-area up with many other cities for young professionals. The area's that are losing population continue to be exurb and ultra suburban communities. Let's see how the next generation of home buyers balances commute v space before we write an obituary on the region.

I shared this in the thread about Hartford but no one seemed to recognize it was a positive article. :P I was saying it's hard to know what's really going on since there are so many conflicting messages out there.... People leaving Hartford in droves because of the economy, and yet it ranks better than NY and Charlotte for white collar jobs?!

[JayCT]

Originally Posted by BicoastalAnn

I shared this in the thread about Hartford but no one seemed to recognize it was a positive article. :P I was saying it's hard to know what's really going on since there are so many conflicting messages out there.... People leaving Hartford in droves because of the economy, and yet it ranks better than NY and Charlotte for white collar jobs?!

This is our frustration with some of the naysayers that post here. They feed on the bad news and ignore the good. I know I always seem to be posting and promoting the positives but honestly I never have to post the negatives because someone here is always quick to do it.

That said, the truth is somewhere in between. The economy here is good and getting better but there are some issues. This is true just about everywhere. The problem is our economy is such that it always lags other states in getting hit by recession and always comes out of a recession later. Still Glassdoor's analysis is good because it is based on job offerings which is a sign of things to come. Jay

[FunkOdyssey]

Hiring opportunity was determined by the ratio of job openings on Glass Door to the population.

That was Glass Door's methodology for putting Hartford on the top cities for jobs list, and if you recall my posts on this topic, I applied the same method for job searches in my own industry. The Hartford area has alot more opportunity than alot of other places when you dig into the numbers.

[hartford_renter]

Originally Posted by JayCT

This is our frustration with some of the naysayers that post here. They feed on the bad news and ignore the good. I know I always seem to be posting and promoting the positives but honestly I never have to post the negatives because someone here is always quick to do it.

That said, the truth is somewhere in between. The economy here is good and getting better but there are some issues. This is true just about everywhere. The problem is our economy is such that it always lags other states in getting hit by recession and always comes out of a recession later. Still Glassdoor's analysis is good because it is based on job offerings which is a sign of things to come. Jay

I'll gladly point out the positives in CT

The public schools are great, so are the parks and the natural beauty. We have tons of culture, restaurants and things to do.

The economy however is not great and the reasons for this are clear as day. Its too much spending and too much taxation.

I wouldn't call it naysayers its more like people are sick of having to repeat the same message over and over again to people who keep making excuses. Well we are tired of excuses and demand that you face the facts. Cut taxes, cut spending fire all the Democrats.

This state is going bankrupt period. It isn't improving after 10% increase in taxes we are facing a 2 Billion dollar deficit in 2 years. Our economy is growing at one of the slowest rates in the country and the governor recently had to pay UTC 200 million to stay. Everyone else who isn't getting a multi million dollar handout is heading for the exit doors like GE.

Oh and by the way if you don't believe that CT is going bankrupt just look in the news the IL pension system will leave about half a million people with virtually nothing in 10 years. It will happen to CT too. That is my actuarial opinion

Failing Central States Pension Fund is out of options - May. 20, 2016

[Robert137]

Originally Posted by hartford_renter

I'll gladly point out the positives in CT

The public schools are great, so are the parks and the natural beauty. We have tons of culture, restaurants and things to do.

The economy however is not great and the reasons for this are clear as day. Its too much spending and too much taxation.

I wouldn't call it naysayers its more like people are sick of having to repeat the same message over and over again to people who keep making excuses. Well we are tired of excuses and demand that you face the facts. Cut taxes, cut spending fire all the Democrats.

This state is going bankrupt period. It isn't improving after 10% increase in taxes we are facing a 2 Billion dollar deficit in 2 years. Our economy is growing at one of the slowest rates in the country and the governor recently had to pay UTC 200 million to stay. Everyone else who isn't getting a multi million dollar handout is heading for the exit doors like GE.

Oh and by the way if you don't believe that CT is going bankrupt just look in the news the IL pension system will leave about half a million people with virtually nothing in 10 years. It will happen to CT too. That is my actuarial opinion

Failing Central States Pension Fund is out of options - May. 20, 2016

The article you quoted refers to the Teamsters union Central States pension fund (Jimmy Hoffa's piggy bank). Has nothing to do with state of Illinois pension plan. Illinois, like Connecticut, can, will and should raise taxes to pay promised state pensions (at least those accrued to a given date). We'll be paying for the mistakes of the past for a long time. What's more depressing is that the so-called leaders keep making the same mistakes.

[Henry10]

Originally Posted by MrGompers

There's no way in hell they are paying 35k a year in taxes on 85k income. IF they are, they are doing the taxes themselves and/or have the worst CPA in CT.

You need to stop lecturing businesses you know nothing about how to handle their finances.

Originally Posted by Mr_250

Not sure if anyone focused that two agencies downgraded connecticuts bond rating. Basically lower bond ratings equal Connecticut pays a premium on bonds issued which means higher payments. Blah blah blah.

Not a bad thing. The next round of bonds issued is $510 million. I will be buying Connecticut bonds. Just because CT isn't doin so hot doesn't mean we all have to suffer and complain. I'm taking advantage!!

I have to think you are joking, right?

Originally Posted by JayCT

Personally I am against the mergers.

Who says that you have a say on what two private parties decide? Where does CT get that power from? Then we wonder why businesses leave?

Originally Posted by JayCT

That said, the truth is somewhere in between.

Not necessarily. Often, truth is totally one-sided. There is no denying the negative trajectory of CT's economy.

Things take time, sometimes decades. But you can't tell anybody here that CT is doing better now than 10 or 20 years ago. It's doing worse, or a lot worse.

Why is one a naysayer if she/he tells the truth, however negative?

Originally Posted by Robert137

Illinois, like Connecticut, can, will and should raise taxes to pay promised state pensions (at least those accrued to a given date). We'll be paying for the mistakes of the past for a long time. What's more depressing is that the so-called leaders keep making the same mistakes.

This post is contradictory. You say that CT "should increase taxes to pay for promised state pensions." Then you say -- "leaders keep making the same mistakes."

Do you or do you not support more taxes to pay for promised state pensions?

[hartford_renter]

Originally Posted by Robert137

The article you quoted refers to the Teamsters union Central States pension fund (Jimmy Hoffa's piggy bank). Has nothing to do with state of Illinois pension plan. Illinois, like Connecticut, can, will and should raise taxes to pay promised state pensions (at least those accrued to a given date). We'll be paying for the mistakes of the past for a long time. What's more depressing is that the so-called leaders keep making the same mistakes.

Sure it is the teamsters pension but it covers a large group from IL. It is 50% funded. Guess what CT's pension plan is ~50% funded!

Are you an actuary? I am, and let me tell you something. You can't tell CT or IL that they "can and will" raise taxes to pay for the pensions. But guess what they aren't going to raise taxes. You are going to be kicked to the curb!

CT is going bankrupt I'm not paying and the pension beneficiaries need to face reality. Take a 50% cut now or get nothing! Just like the teamsters in the article I posted. They wouldn't negotiate and now they are getting 0.

[GoHuskies]

Originally Posted by hartford_renter

CT is going bankrupt I'm not paying and the pension beneficiaries need to face reality. Take a 50% cut now or get nothing! Just like the teamsters in the article I posted. They wouldn't negotiate and now they are getting 0.

You keep saying this as if it will be true. It is extremely difficult and perhaps near impossible for states to go bankrupt. States are required to balance the budget which means measures like austerity cuts and tax hikes will happen before bankruptcy. That or the states may try to wiggle out of pension obligations.

[MrGompers]

Originally Posted by MrGompers

There's no way in hell they are paying 35k a year in taxes on 85k income. IF they are, they are doing the taxes themselves and/or have the worst CPA in CT.

Originally Posted by Henry10

You need to stop lecturing businesses you know nothing about how to handle their finances.

I don't know why you continually try to attack me. I have a BS degree in accounting and 20 years experience. I do not note my qualifications publicly here since this board is mostly for funsies and blowing off steam. However, this is one of the very few instances on this board where I can say "as an expert in the field my opinion is"

Its not going to sway any ones opinion anyway especially yours I'm sure. You'll probably mutter something about Karl Marx and he's why we can't have nice things, etc.

Like I said originally,

There's no way in hell they are paying 35k in taxes on 85k income. Even if you include property taxes I don't think they would pay even half that amount.

When people complain like this they should show us the numbers otherwise I don't believe a single word of it.

[hartford_renter]

Originally Posted by GoHuskies

You keep saying this as if it will be true. It is extremely difficult and perhaps near impossible for states to go bankrupt. States are required to balance the budget which means measures like austerity cuts and tax hikes will happen before bankruptcy. That or the states may try to wiggle out of pension obligations.

Well you are wrong.

The CT pension plan is currently funded at ~45%

It is GOING BANKRUPT!@!@!!!!!!

You can dredge up all the tropes about states can't go bankrupt, but there is no money left.

CT is going bankrupt. Period. Are you an actuary? Well I am and I talk to other actuaries. Everyone says the same thing. There is no money and well what do you think that means?

... I should start a thread on that very topic.

When do you think CT will default?

My guess... 5 years we default. I'm calling it here just like I called GE leaving.