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.

Phil Knox1 November 14, 2012 at 10:20 PM
Luca, the reason I don't want to have yogurt with you is not because of your spelling. And the reason that I want to have yogurt with Tom is not because of his spelling either. It's because I found this funny, "Phil if you dont know by now that WOMEN are nuts and men are bolts you have a lot to LEARN!!!" Also, if a person is outspoken against X but does X, the logic does not follow that they must do Y if they're also outspoken against doing Y. I see that you got a JD from Yale in 1967. You seem to be about as intellectually honest as your famed classmate Joe Lieberman. And I don't know what hollw values you're talking about
Hermann Zwergel November 14, 2012 at 11:20 PM
Connecticut's Budget Deficit is Growing Is the state heading toward its own fiscal cliff? That is the topic of this thread. Luca - Knox, could you please spare the non bi-polar folks here the unpleasantness of wading thru your inane comments? Thank you so much!
sebastian dangerfield November 14, 2012 at 11:38 PM
Fritz...thanks for your inciteful comments on the deficit!
Phil Knox1 November 15, 2012 at 04:36 AM
All bad economic events shall now be referred to as "fiscal cliffs".
sebastian dangerfield November 15, 2012 at 04:55 AM
haha Yeah--fiscal cliff is now just that the economy is getting bad...ha good one. thanks fritz


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