Malloy claims $5.7 million state budget deficit … But $400 million is closer to the truth
Early last summer the Connecticut General Assembly adopted a budget agreement that had been negotiated between Governor Dannel Malloy and the Democratic leaders of the Connecticut State Senate and State House of Representatives.
In truth, the new state budget was out of balance the day it was signed into law and the situation has only gotten worse over the last four months.
Connecticut Income Tax revenues are down.
Connecticut Sales Tax revenues are down
Of the $209 million in “lapse” savings required in the state budget, Malloy has yet to identify $61 million in cuts.
And while the budget plan required about 2,000 layoffs in order to balance, the governor has only implemented about half that number.
Meanwhile, the poorly developed Malloy/Democratic austerity budget will lead to a variety Malloy claims $5.7 million state budget deficit … But $400 million is closer to the truth - Wait What?: