[JayCT]

Originally Posted by ads94

Malloy has been a poor Governor, but a lot of the malaise in this state comes from the previous administrations. As in, all of them. Not just the Rs but also the Ds. Pension obligations are dragging this state down in a death spiral, with little real way to escape them. It's illegal to cut pension payments for those who are already retired, so it's not like we can say "sorry, hard times come" and axe the payments to them. So we NEED to fund the pension fund, something that most previous administrations NEVER did.

Malloy has also yet to address the state retiree health care system, which costs are increasing at a rapid rate.

Republicans would have to tackle the same issues as Malloy, but blaming the budget solely on him? Yeah, that's not going to fly in the realm of reality. Malloy is actually trying to tackle the issues the state faces, albeit poorly.

No, I didn't vote for him, and no, I don't support him. I do give him credit where credit is due, however.

You are right that this goes well beyond just the Malloy administration. He inherited it from Rell (a Republican) who inherited it from Rowland (another Republican) who got it from Weicker who inherited some of it from O'Neill. It goes on and on. Jay

[ads94]

Originally Posted by JayCT

You are right that this goes well beyond just the Malloy administration. He inherited it from Rell (a Republican) who inherited it from Rowland (another Republican) who got it from Weicker who inherited some of it from O'Neill. It goes on and on. Jay

It goes back even further. The CT Mirror had a great article on it. Really good read, made me much more supportive of Governor Malloy's efforts.

A legacy of debt: Connecticut Standing on its Own Fiscal Cliff

[New Englander]

Originally Posted by beerisgood02

Connecticut Lawmakers Seek New Tax on Hedge Funds

Connecticut Democrats are taking aim at its hedge fund industry with a proposed tax increase, as the state seeks ways to close a $1.5 billion budget deficit.

https://www.wsj.com/articles/connect...nds-1485814373

I'm not sure how this reconciles with Governor Malloy giving tax breaks/subsidies to AQR, Bridgewater?

It's mind boggling to see the mismanagement within the State government. If they decide to start taxing hedge funds, we can definitely expect an exodus to NY, MA, FL or elsewhere. I am not in favor of Malloy's tax breaks/subsidies to hedge funds either.

Wouldn't it be better to get the financial house in order without killing the golden goose?

[JayCT]

There are a few good news stories on our economy. The Bond Commission has approved $12 million in loans to five companies that will result in the retention and creation of more than 1,300 jobs here. Seems like a good deal for the state overall even though it is a form of corporate bribery. Jay

Bond Commision OKs $12M in loans to aid business expansions | HartfordBusiness.com

[JayCT]

A Milford company is renovating an old aircraft plant in Southington into a 300,000 square foot "fulfillment" distribution center that will employ up to 200 people. Another bit of good news for the state. Jay

Southington fulfillment center to employ 200 | HartfordBusiness.com

[JayCT]

Another very insightful article on Connecticut's fiscal crisis. Jay

Whether by taxing or cuts, CT faces painful fiscal future | HartfordBusiness.com

[Henry10]

Originally Posted by JayCT

Another very insightful article on Connecticut's fiscal crisis. Jay

Whether by taxing or cuts, CT faces painful fiscal future | HartfordBusiness.com

CT is in this pickle because of liberal policies -- the worn-out "tax and spend"

Now same liberals are lecturing us how to dig out of this hole. The day is coming thick and fast we need to punish temporary politicians who do permanent damage to our society. Otherwise, current politicians can keep doing more damage, without fear of repercussions.

[hartford_renter]

Originally Posted by JayCT

You are right that this goes well beyond just the Malloy administration. He inherited it from Rell (a Republican) who inherited it from Rowland (another Republican) who got it from Weicker who inherited some of it from O'Neill. It goes on and on. Jay

This is completely untrue, please check your facts.

Also in the news, this thread just hit over 6K replies, making it one of the longest in all of CT's CityData Forum

[NewJeffCT]

Originally Posted by ads94

It goes back even further. The CT Mirror had a great article on it. Really good read, made me much more supportive of Governor Malloy's efforts.

A legacy of debt: Connecticut Standing on its Own Fiscal Cliff

Yes, I saw that as well. The problems are mind boggling until the 2030s.

From the article - almost nothing contributed to pensions for about 45-50 years.

Connecticut saved nothing between 1939 and 1971 — and very little until the mid-1980s — to cover pensions promised to state employees and teachers. For example, between 1979 and 1988, the state never contributed more than 40 percent of the recommended payment for the teachers’ pension.

[NewJeffCT]

Originally Posted by hartford_renter

This is completely untrue, please check your facts.

Also in the news, this thread just hit over 6K replies, making it one of the longest in all of CT's CityData Forum

He did check his facts - see the article he linked. We're paying for 45-50 years of almost no payments to state employees and teacher pension funds. Jay's not exactly a Malloy apologist, either.