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Connecticut's Budget Deficit is Growing

Is the state heading toward its own fiscal cliff?

Connecticut's budget deficit is increasing, taking a perilous plunge on Friday that is pushing it toward the $300 million mark, the Connecticut Mirror reports.

While the website questions whether the deficit will force Gov. Dannel P. Malloy to increase taxes -- again -- to cover continued budget shortfalls, Malloy last week said he would not hike state taxes, according to the Republican-American newspaper. 

The growing state budget deficit, the Mirror reports, is the result of revenue shortfalls that are greater than Malloy administration officials originally anticipated. Officials in his administration blame the shortfalls on the overall weakness of the national economy. State Republican leaders, however, lay the blame on the weakening effect on the state's economy of the $1.5 million in new taxes the Malloy administration implemented in the last year.

Malloy will present his new budget plan to the General Assembly when it meets in early 2013.

Sandra November 14, 2012 at 08:26 PM
Bart the silence is deafening. It is obvious the people of this state are content with failure.
tonypct November 15, 2012 at 01:18 AM
So what do we do? We re-elect all the people responsible for putting us in this mess. ID for voting? Not necessarily. But IQ tests before voting? YES?!?!?!?
Bart Shuldman November 15, 2012 at 01:54 AM
We do we do....what will this Governor do? That is the scary thought. This is a huge deficit and he needs to balance the budget. He already increased taxes on everyone including the middle class and on 200 different items. Revenues are dropping, more people out of work and Medicaid skyrocketing. And people have less money to spend so state taxes will continue to decline. And now the potential of the fiscal cliff and another recession. What will he do? What will his party do? And what will we do with the $60 Billion in unfounded liabilities he is hiding?
Sandra November 15, 2012 at 12:38 PM
Tonypct-"all the people responsible for putting us in this mess" would include democrats and Republicans. We need to work together because neither side has all the answers. The blame game and insults will get you nowhere. Remember "FORWARD"
Fairfield Old Timer November 15, 2012 at 12:46 PM
Impeach Malloy NOW!!!!

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