[BPt111]

HARTFORD — The latest state budget numbers are out, and they show Connecticut facing deficits, now and in the future.
Two reports released Friday indicate that the state is running a deficit in the current fiscal year, and the problem will increase over the next three years.
The legislature's nonpartisan Office of Fiscal Analysis placed the projected deficit in the current fiscal year at $89 million, while Gov. Dannel P. Malloy's budget office estimated it at $99 million.


Malloy's office emphasized that the projection would be at $99 million if no spending restraints were made, but Malloy ordered a statewide hiring freeze and spending cuts in a memo to state agency leaders Wednesday.
The legislature's office said the projected deficit will be a combined $4.47 billion over the next three years, while Malloy's office estimated it at $3.3 billion over three years.
Republicans immediately said that Malloy had downplayed the state's budget problems during the recent election campaign against Republican challenger Tom Foley of Greenwich, which Malloy won by fewer than 30,000 votes out of more than 1 million cast.
During political debates, petitioning candidate Joseph Visconti complained multiple times that the deficits would be more than $4 billion over three years, but Malloy repeatedly said that the projections were based on an expected 7.8 percent annual increase in spending that he would not allow if re-elected.


Republicans complained that Malloy's budget office recently said that there were no "deficiencies," or overspending, by state agencies, while the nonpartisan fiscal office disagreed, saying before the election that there was $83 million in overspending.

[Ericthebean]

Of course there are deficits, but this is old news. My question is when does this start to really matter that there's civil unrest over it? Not sure I'm seeing that

If it's political, there should be a migration of businesseses into New Hampshire where some might make the commute or move to massachusetts

[pickledpainter]

"If it's political, there should be a migration of businesseses into New Hampshire where some might make the commute or move to massachusetts"

helloooooooooooooooooooooooooooooooooooooooooooooo oooooooo?

It's not political. It's not the stupid red team / blue team BS, it's not conservative / liberal. It's math. 3rd grade math. Until these morons who run this state understand this, CT will continue to bleed out talent, skilled workers and revenue.

Yea, well, you're finally getting it.

Look at raw land sales in the lower NH counties. What do you see? Ask any Realtor. Most all of the raw land sales are from people who are moving out of CT.

Why?

Because Ct sux for business.

Fix it and you may retain a few businesses.

For me? I'm outta here in 4 months. Ciao!

I get a 12K to 20K raise for moving out of CT.

Not too shabby.

[pickledpainter]

....might want to look at this thread. Much of this is directed towards CT.
The truth hurts sometimes...

http://www.zerohedge.com/news/2014-1...business-owner

[BPt111]

The next fiscal year it grown to $400-$700 million

A: Malloy will raise taxes 10% include sale taxes and property taxes, gases tax
B: Malloy will consider tolls on I-95 and I-84

[JayCT]

Originally Posted by BPt111

The next fiscal year it grown to $400-$700 million

A: Malloy will raise taxes 10% inculde sale taxes and property taxes, gases tax
B: Malloy will consider tolls on I-95 and I-84

Tolls will only be considered where the state is planning a major reconstruction project AND if Congress decides to allow them on interstate highways. The most likely project to have tolls would be the Aetna viaduct in Hartford. Another possibility would be the proposed widening of I-95 from Branford to Rhode Island. Still all this hinges on a do-nothing Congress that seems more bent on doing the exact opposite of what the President of wants than doing their job. Jay

[Wilton2ParkAve]

All Malloy has to do to cure all is stop the pensions. Lump sump of current funding to a defined contribution plan as well as enrolling new/future employees. The other options all end in bankruptcy. Pensions can't work if you are retired longer than employed.

[BPt111]

CT can't afford a another tax increase.

[hartford_renter]

Your a fool if you think Malloy will cut a cent of spending, not one cent!

Enjoy your tax increases CT you voted for it

[Mr_250]

Originally Posted by BPt111

The next fiscal year it grown to $400-$700 million

A: Malloy will raise taxes 10% include sale taxes and property taxes, gases tax
B: Malloy will consider tolls on I-95 and I-84

I really hope not. I have doubts he will take such extreme measures. He knows CT is very vulnerable right now and he will not raise taxes.

The pensions in this state need to be changed but they are locked in until 2016 (I think).

Lets just say I'm hopefully. Because in all reality I don't work to pay the Governemnt. Thank goodness my company has openings in the South. 😄