Saturday, November 14, 2015

Hello Connecticut?  Ah, our Fiscal House is on Fire - Wait What?

Hello Connecticut?  Ah, our Fiscal House is on Fire - Wait What?:

Hello Connecticut?  Ah, our Fiscal House is on Fire

In “Fiscal flood warning: Nothing but red ink forecast in CT,” the CT Mirror’s Keith Phaneuf reports;
Nonpartisan fiscal analysts issued projections Friday that Connecticut, already coping with a significant budget shortfall in the current year, is facing a far worse problem just over the horizon: nearly a $2.3 billion gap in state finances over the next two fiscal years.
The legislature’s nonpartisan Office of Fiscal Analysis is projecting a $552 million deficit in the next fiscal year, which begins July 1, 2016. And finances are on pace the following year to run $1.72 billion in the red….
It was only 48 hours ago that Governor Dannel Malloy was quoted in the Hartford Courant claiming;
“…a shortfall of “a couple of hundred million dollars” needs to be kept in perspective, the Democratic governor said.
“These numbers aren’t that big, folks,” Malloy told reporters Thursday at a news conference at the state Capitol.  “We’re talking about a $20 billion budget. That’s 20 thousand million dollars. We’re talking about finding a couple of hundred million of dollars in cuts. It’s a relatively small number versus the entire expenditure.”
He added: “I know it all gets reported as a crisis. This is not a crisis.”
Here at Wait, What?, the blog post about the budget read,  Making Sh*t Up – the New Normal in American and Connecticut Politics.
Just last year, as the 1st term governor sought to convince voters to give him four more years in office, Malloy said there was not deficit and if re-elected he would not proposal or accept tax increase if re-elected;
“We won’t have deficits. We don’t have deficits.” – Malloy – CT Mirror – Feb 4, 2014
“We really don’t have a deficit.” – Malloy – CT Mirror – August 4, 2014
“There won’t be a deficit. And there won’t be tax increases, because I’m taking that Hello Connecticut?  Ah, our Fiscal House is on Fire - Wait What?: