State Deficit Balloons to $466 Million

Just months after the new budget was passed. You may remember Connecticut was one of the last to pass a state budget. Unlike the Federal Government, the state government does not have a Federal Reserve nor currency printing presses and can not by law run a deficit. At least you have to pretend you aren’t running a deficit.

You may also remember our elected employees playing solitaire while the Republican House Minority Leader was telling them how to save money.

Basically the legislators played a waiting game, when you have one party majorities in each house, delay is a viable political tactic.

So taxes were raised. How original! And a let’s all pretend it’s a balanced budget was passed.

A bone was thrown to us in the form of a reduced sales tax. But sorry that is off the table now.

Governor Rell has called the legislators back for a Dec 15th session to pass a new budget. It remains uncertain whether the legislature will act on anything that day, however. Given past history, ahhhh I think it’s a good bet ….NO!

The governor unveiled a deficit-cutting plan on Tuesday that rolls back a planned sales tax cut, cuts state aid to cities and towns, and reduces spending to numerous state agencies. Most of the plan requires legislative approval.

Same old, same old.