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Nappier to Malloy: Budget may harm CT’s reputation with investors

Nappier and Malloy
Nappier and Malloy

HARTFORD, Conn. – State Treasurer Denise Nappier wrote Gov. Dannel P. Malloy Friday saying his two-year budget proposal, which is shy about $325 million in debt service, is “too aggressive” and could harm Connecticut’s reputation with investors.

In the letter, Nappier said her office may come in under budget for debt service but “the budgeting of potential budget savings before they are realized is equivalent to counting one’s chickens before they hatch. I am concerned that even if one were to accept budgeting for bond premiums not yet received, the adjustments are too aggressive.”

Nappier said she recognized Malloy’s “unenviable task” of crafting a two-year budget amidst “extraordinary” fiscal challenges and competing demands for funding. But she said the governor’s budget did not reflect her office’s debt service estimates.

See the complete story at CT News Junkie.

 

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