Lembo reports revised surplus numbers – again

HARTFORD, Conn. – Comptroller Kevin Lembo put the state budget surplus for 2014 at $121.3 million in a Friday letter to Gov. Dannel P. Malloy, which notes that adjustments to the estimate will continue throughout August.

Lembo’s latest report mirrors estimates by the Malloy administration in late July, which revised the surplus upward by $63 million to reflect increased federal Medicaid reimbursements and stronger personal income tax revenue.

See the complete story at CT News Junkie.



5 responses to “Lembo reports revised surplus numbers – again”

  1. piberman

    Monthly reports of ups and downs of modest “surpluses” in the bloated state budget still financed by the largest tax hike in our state’s history aren’t ikely to gain new advocates of the Governor’s “tax and spend” policies protecting state workers. He already has all the votes of our public workers.

  2. John Hamlin

    Hard to take seriously a claim that there’s a surplus when the Governor is still borrowing more than the surplus, delaying repayment of bond obligations, committing to huge future pension liabilities for its public union employees, and generally playing fast and loose with any sensible notion of accounting in order to make some election year showing. There should be an independent, non-political budget office — but of course there isn’t — and Controller Lembo is certainly not helping matters by creating fictional reports. The state is still spending more than it’s taking in, borrowing to cover basic operating costs, and spiraling out of control with over-taxing and over-regulating and over-spending. Unfortunately, neither party seems to offer a viable fiscally responsible alternative (Foley says he won’t touch the public employee union obligations), so the only fiscally responsible option voters are offered is to move to another state, which is something most of us would prefer not to do.

  3. potaxpayer

    ct is the 5th best state for welfare and giveaways for not working at all, thats why you see so many illegals having so many kids and no way to pay for them. we pay for everything for there kids from education,school lunch, dinner,, heat,rent you name it. people in ct do not have to act responsibly because they know the taxpaying working people who are taxed to death and will just be taxed more. there is nothing wrong with having kids responsibly.

  4. piberman

    What’s unique about CT is that it has multi-generational residents as welfare wards of the state in our major cities – Hartford, Bridgeport, New Haven, Waterbury and New Britain. All the more reason to be distressed at the Democrat tax and spend policies that drive firms and jobs from CT. Without access to jobs residents of the welfare cities will be held captive for future generations indefinitely. That Democrats claim special “kinship” with the poor and downtrodden is curious since Democrat policies in CT discriminate against jobs creation. Same story here in Norwalk too.

  5. One and Done.

    FY2014 ended 32 days ago. If a private sector company were to continuously revise reported numbers, there would be an investor panic over accounting irregularities and the stock would tank.
    Mr. Lembo and the Governor act like this is some badge of honor to rack up debt and call it a surplus. In the real world people go to prison for this kind of scam.

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