Connecticut: The Republic of Debt
by jonpelto
The 2013 session of the Connecticut General Assembly ended with the adoption of record amounts of additional state borrowing.
They adopted $750 million in state bonds to pay a portion of the cost associated with moving Connecticut to Generally Acceptable Accounting Principles (GAAP). Then there was the $1.6 billion for Malloy’s UConn initiative “to overhaul the state’s flagship university over the next decade,” this coming after the state’s $2.3 billion UConn 2000 program. And then, of course there are hundreds of millions more in bonding for programs and services that should be funded out of the State’s General Fund rather than state borrowing, such as Malloy’s massive corporate welfare program and the state’s Stem Cell Research Program.
The fact is that the FY14-FY15 state budget relies heavily on record borrowing.
More on today’s Quinnipiac Poll Results: A captain who has lost the support of his crew….
by jonpelto
For a Democrat to be elected governor in the State of Connecticut he or she must have the overwhelming support of Democratic voters and receive a sizable share of unaffiliated voters.
By simply focusing on the projected vote between Governor Malloy and Tom Foley, the media is missing the most critical piece of the story.
Since Malloy converted from being Dan Malloy to Dannel Malloy he has consistently
