So I guess I’m not going to get my fifty-five bucks from the state after all.
That rebate, which was a poorly-thought-out idea to start with, is dead in the face of a tidal wave of bad budget news and red ink. The surplus for this year has shrunk to a fraction of what analysts thought it would be in January, and next year’s budget is nearly $300 million short. The reasons boil down to far less money coming in than the administration predicted.
Options for fixing it are not great. We could end up with quick revenue fixes like keno (although the Democrats now appear to be nixing that particular item), budget cuts, the elimination of new and proposed spending, a raid of the Rainy Day Fund, and all kinds of budget gimmicks. The chances of getting out of this budget season without pain of some kind are slight. This does nothing, of course, about the massive projected deficits starting in 2016. Those can be measured in the billions.
It’s become clear that the fiscal crisis of 2011 was not actually solved so much as it was temporarily patched.
Susan Bigelow is an award-winning columnist and the founder of CTLocalPolitics. She lives in Enfield with her wife and their cats.
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