Opinion: Don’t be fooled by surplus smoke and mirrors

Comments

4 responses to “Opinion: Don’t be fooled by surplus smoke and mirrors”

1. Piberman

   January 24, 2014

   The real news is not the doubtful surplus but a projected billion dollar deficit the following year.

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2. Oldtimer

   January 25, 2014

   Complain all you want, inheriting an enormous deficit and changing it into a surplus is some accomplishment.

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3. Piberman

   January 25, 2014

   Oldtimer

   If you read the details the surplus exists only if the questionable financial slight of hands are ignored. That’s why a billion dollar deficit is projected the following year.

   When politicians claim “success” look at the details. Smoke and mirrors on the way to re-election with more tax hikes. Guaranteed.

   Maybe you can get Pres Obama to offer Gov Malloy a DC appt. Treasury ?
   Such “expertise” in CT must be rewarded in DC.

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4. Inquirying Mind

   January 25, 2014

   I’m not arguing here, but is this simply a snapshot of the cash flow similar to when I deposit my paycheck prior to writing out the bills? The balance is healthy, but there is still the gas bill, the oil bill, the phone bill, taxes…etc. that are either due right away or sometime next week. It’s not smoke and mirrors, it’s simply how the money flows in and out. If I only pay the minimum balance due on the credit card (and make the card sponsor dance for joy), I can project the accumulating interest as additional debt next month. Today, the balance may be high, but tomorrow when the check to the IRS clears, it’ll be a whole lot lower.
   .
   The bigger question is not what the balance is today, but what the State legislature is doing to get out of the deficit.

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