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Nonpartisan analysts predict $2.8 billion budget deficit for 2016-17

HARTFORD, Conn. –No matter who the voters elect or re-elect to the governor’s office in November, they will inherit what’s projected to be a two-year, $2.8 billion budget deficit, according to the nonpartisan Office of Fiscal Analysis.

That’s still a smaller number than the one-year, $3.67 billion deficit inherited in 2011 by Democratic Gov. Dannel P. Malloy, but Republican gubernatorial candidates say it shows how little progress the state has made getting its fiscal house in order.

“I’m willing to concede that Malloy inherited a $3.6 billion deficit, if he’s willing to concede to a $2.8 billion deficit over the biennium,” Sen. Minority Leader John McKinney said Thursday.

McKinney, one of three candidates vying for the Republican nomination for governor, said that if the Malloy administration wants to talk about the problems it inherited, then it’s going to have to talk about the ones it’s leaving.

Comparing apples to apples, the one-year deficit projection following the end of former Gov. M. Jodi Rell’s term was $3.67 billion. The one-year deficit projection following the end of Malloy’s first term is $1.278 billion, which is about a third of the deficit the state faced in 2011.

See the complete story at CT News Junkie.

 

Comments

7 responses to “Nonpartisan analysts predict $2.8 billion budget deficit for 2016-17”

  1. John Hamlin

    So the Democrats’ argument for their reelection is that they are bad but not as bad as past Republican administrations? Really? Like they think that’s going to motivate anyone to vote for them in light of the past four years of economic devastation in Connecticut? When Hartford won’t fix Metro North but can build a bus lane from New Britain to Hartford? Their consolation as they approach November should be that the Republicans will put up weak candidates and don’t have the toxic but politically powerful public employee unions in their hip pocket. Maybe it’s time for a third party for the fiscally responsible and socially moderate.

  2. One and Done.

    Here is a stupid idea. Instead of growing spending by 20% in 4 years, why not just keep it flat until the economy can recover? Or would that renege on all the promises made to the unions?
    .
    One and Done.

  3. Piberman

    No doubt about it. When it comes to finance and supporting public unions Gov Malloy and our Democrat legislators are the best. Even after 4 years of economic expansion and a historic tax hike the Governor still reduce public union employment to produce balanced budgets. CT continues as the nation’s pre-eminent poster child for irresponsible finance.

    Norwalk citizens can do their part next fall by re-electing the same Democratic state legislators who support the Governor’s inability to manage the state’s fiscal affairs. After all Norwalk voters need maintain the City’s reputation for always favoring fiscal mismanagement.

    Imagine what more damage Gov Malloy and his Democrat legislators can do over the next 4 years ! Awesome.

  4. Bill

    When are we going to say no to the public employee unions? This is ultimately what is killing this state. Texas isn’t looking at a deficit next year, they have a surplus, but our idiot politicians can’t seem to say no to automatic pay increases to those who are already overpaid and able to retire at 60.

  5. anon

    Many public union employees can retire at age 55.

  6. Nonpartisan

    Sure this didn’t help

    § 50 — INCOME TAX EXEMPTION FOR TEACHER PENSIONS
     
    The bill exempts a portion of state teachers’ retirement system (TRS) income from the income tax. It does so by allowing taxpayers, when calculating Connecticut adjusted gross income for state income tax purposes, to deduct 10% of TRS income for the 2015 tax year, 25% for the 2016 tax year, and 50% for 2017 and subsequent tax years.
     
    EFFECTIVE DATE: July 1, 2015, and applicable to tax years beginning on or after January 1, 2015.
     

  7. piberman

    We ought to remember that it was a comination of GOP Governor and Democratic Legislature that gave newly elected Gov Malloy a 3.85 bil. budget deficit. Based on the Gov and Democrat Legislature’s performance over the past 4 years it will take Democrats another 4 years to secure balanced budgets setting a national record. But and its a big but we’ll see another national recession over the next 4 years. So its unlikely the fiscal skills set of the Gov and a Democratic Legislature. So its likely Democrats will deliver fiscal deficits well into the future.

    The message is clear. Voters who favor continued state fiscal deficits need return the Democratic team to Hartford. The public unions are counting on Norwalk voters to give them “more respect” by voting the entire Democrat line this fall.

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