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.

JHS November 13, 2012 at 04:45 PM
Yes- he didn't say either way while Foley said he wouldn't. So you can assume the voters voted for a tax increase. But of course he didn't have to add 900 million more to his first budget for the busway, hospital and first five.
Ellen O'Shea November 13, 2012 at 05:25 PM
I didn't vote for ANY Democrats. I left the party when they turned commie. They work for their party, they work for the unions and they work for Mexico. I'm still waiting for them to work for the United States. I won't hold my breath.
Gary Diamond November 13, 2012 at 06:06 PM
Outsourcing drove most CT. manufactures out of business or out of our state, so of course they lost that tax base, and outsourcing will kill more Just drive to any of our major cites and look at all the empty factories, they look like ghost towns All those jobs are now in commie land China!!! And more still going SAD
MaryAnn Benevenuto November 13, 2012 at 09:36 PM
I believe it .. Voters believe whatever garbage the media puts in front of them. I watched Rachel Maddow on msnbc news . Her idea of post election reporting is cutting and pasting quotes from the NYT. Out of context, of course.
Southbury Resident November 14, 2012 at 02:27 AM
Mary I don't watch that garbage on MSNBC. However, gonna enjoy seeing more foreclosures in CT. People voted again on Dems and state is broke. Maybe Malloy can raise sales tax to somewhere around 12% this time. Maybe Tax New Heaven, Hartford.


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