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Bond Commission meeting sparks borrowing debate

By Christine Stuart

HARTFORD, Conn. – The state Bond Commission approved $510 million in general obligation bonds Friday for a variety of projects, which sparked a debate over whether the state is borrowing too much money.

“We are borrowing at what I would consider an alarming rate, which doesn’t mean that any of these projects are bad,” Sen. L. Scott Frantz, R-Greenwich, told Gov. Dannel P. Malloy. “But it does raise the question about how much can the state sustain going forward.”

Malloy tried to reassure Frantz that his self-imposed bonding cap would be in line with where it was last year without tying it to a specific number. Last year, Malloy said the state wouldn’t borrow more than $1.8 billion.

In 2013, it came within $10 million of the cap after canceling six scheduled meetings, including one in October shortly after Republicans pointed out how close Malloy was to his self-imposed cap.

See the complete story at CT News Junkie.

Comments

One response to “Bond Commission meeting sparks borrowing debate”

  1. the donut hole

    Only a fool would think we actually have a $500 million surplus.
    .
    Malloy couldn’t be more of a failure. When he campaigns on this phony surplus remember to remind people about the $ billions in debt borrowed to create the illusion.

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