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Opinion: Shrunken surplus a political disaster for Malloy

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.

See the complete story at CT News Junkie.

Comments

One response to “Opinion: Shrunken surplus a political disaster for Malloy”

  1. Piberman

    Let’s keep the eye on the ball. No matter who wins the Governorship the CT Democrats will retain their super-majority in the Legislature. That guarantees CT’s position as the nation’s piaster child for fiscal mismanagement. Deficits, increased spending and new taxes as far as the eye can see as long as the Democrats and public unions gave a continuing love affair. Norwalk Democrats are riding higher no matter the outcome – assured control of the Legislature and here in Norwalk a Mayor and Common Council utterly indifferent to the consequences of increased spending and taxes levied on a City with scant per capita income growth. Spending monies to hire a marketing agent to bring business to a failing City in a failing state in the height of hubris.

    So let’s relax. The CT Governor’s race is good theatre, maybe, but the real prize is the Legislature and that race is already finished. Those not proud of our State and City Democrat led governments always have the option of moving. A recent poll suggested 40% of state residents would like to move. No doubt its higher in Norwalk – witness the years of stagnant property values. Norwalk has a real opportunity this election to give the Governor not only a high turnout but a supermajority of the votes. Let’s go Norwalk ! Maybe the governor will notice, throw some state monies our way so we can give our City employees the “respect” that Mayor Rilling urges us to give – higher salaries.

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