Connecticut Budget Deficit Projected at $192 Million

The budget hole persists despite many steps the state has taken in the last year to get its financial house in order.

The state estimates its budget shortfall at $192 million, a deficit that has grown as officials have struggled to find ways to stem the tide of red ink.

State Comptroller Kevin Lembo told the Hartford Courant that the projected deficit is partly the result of weak tax revenues from capital gains collections and taxes on the bonuses of Wall Street executives.

The budget woes come even after Gov. Dannel Malloy and the legislature last year passed a budget with significant tax increases and made cuts in certain state services in order to balance the budget.

Ed Costello July 04, 2012 at 08:12 PM
I really don’t understand this article. Is it a joke? This is as softball as it gets. You could not be more biased with the convenient lack of the real facts. I don’t know where to start. Do you actually live and work in Connecticut? The “significant” tax increases would be better described as the largest in state history, placing us highest in the nation in terms of taxation. Cuts in certain states services???? I would love to see that list. All he did was re-arrange the furniture, there were very few positions eliminated. On second thought he did punish union members that did not agree with his concessions. Troopers and corrections officers, yup, those are the people to go after. The heck with safety, we need more social services to administer the monthly give away. While you are putting that list together how about another one listing “many steps the state has taken in the last year to get its financial house in order”. The deficit is partly from less revenue from capital gains and Wall Street bonuses???? You mean to tell me taxing the rich didn’t work?? No kidding?? What is the other part??? Could it be …………………………. spending??? My last question would be this; if golden boy and his buddies balanced the budget, how do we end up with a $200 million deficit? Could it be …………………………. spending??? Thanks for the link to the Hartford Courant article. That reporter actually did his job.
Pro Death July 05, 2012 at 10:33 PM
Ed, you nailed it. That is the true story.


More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »