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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 billion 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.

Wyatt November 12, 2012 at 02:05 pm
Is anyone really surprised? Malloy has zero credibility when it comes to any fiscal matters.
Paul Lambert November 12, 2012 at 02:20 pm
Well I can tell you that I'm not surprised one iota. No, wait, I AM surprised. Why isn't it bigger?
Happy Percy November 12, 2012 at 02:36 pm
Malloy the one -term Govennor.
What's with that bus route, has anyone looked at the Construction that is going on, what a waste. it wil take over 30 years, if ever to recoup the cost, another dumb decision. Time to look into any possible connections betwen the Construction group and governemnt, like that never happens?
Jack R. November 12, 2012 at 04:22 pm
So we can conclude the massive tax increases we were forced to absorb didn't do it for the state. Anyone surprised? Without a cut in spending, this spiral will continue. Way to go Malloy! Give your administration a huge pat on the back for pushing through one of the biggest tax hikes in the state's history and continuing to spend it like drunkards.
Happy Percy November 12, 2012 at 05:24 pm
Let's see, they have income, yet less than previos years, coming in from the Native American tribes, lottery,etc, and today's Governmnt, STILL can't cut spending and lay-off State workers that do nothing? Our Country Founders' are rolling in their graves!!
Happy Percy November 12, 2012 at 05:26 pm
I addition it business's that don't claim the proper taxes and push it on to the Middle Class, such as when profits are used to buy millions of dollars of new vehicles to hide the profit from a job.
Paul Chotkowski November 12, 2012 at 05:37 pm
Come now, Comrade Mao Loy has done an outstanding job as Party Chairman [oops should have said Governor]! Especially considering that CT is just a stepping stone to serving in a second BHO administration & national office! If along the way he can tax & spend a little, enhance redistributive social justice with his Earned Income Tax Credit, help the Unions [oops should have said Middle Class after all when a Progressive / Socialist says Middle Class what he is truly saying is UNIONS particularly the corrupt public sector ones - but I digress with yet another Progress / Mainstream Media vocabulary lesson], the Agenda 21 inspired Union Kick Back [oops should have said Infrastructure Investment] like the Bus Way to Nowhere & the Teacher’s Union Payback [oops again should have said Investment in Education] that honey pot known as the ECS Grants. Comrade Mao Loy & his cronies in the CGA know full well that the State of CT is headed for a financial meltdown! They can’t raise taxes high enough & fast enough so they play fiscal musical chairs hoping not to be in office at the end. Their only chance is a BHO offered & FED funded bailout passing the debt on to the national government which pays if off with worthless inflated dollars [think Weimar Republic at the end]. The crash is unavoidable. The only open questions are the Rate of Decline & who gets to rebuild Marx, Stalin, Mao, Pol Pot & Che or Adams, Franklin, Hamilton, Jay, Jefferson, Madison, & Washington - interesting times!
Andrew Ziemba November 12, 2012 at 06:20 pm
No time ever before has such truth been viewed as so treasonous.
Robert Kalechman November 12, 2012 at 06:21 pm
Our State of Connecticut had a election on tuesday sixth November 2012 and the state went overwhelmingly democratic each elected office was voted democratic all sixth congressional districts plus a senatorial seat was won by the democratic party in Connecticut the voters agreed with the tax and spend policy of the elected democrats the Governor,both Houses of the Connecticut legislature stayed democratic and Simsbury voted for a democratic tax and spender as its representative for the sixteen district who will vote yes for democratic taxes and policy each and every time to raise taxes and spend taxers dollars and add to the States deficits just as he as he did spend tax dollars on his election this is how this democrat and his party started out to save money by spending your tax dollars on his and their elections the people of Simsbury and Connecticut have spoken and they voted tax and spend and democratic policy so as good citizen we must support our elected government and replace the present republican leaders in Simsbury and Connecticut who have destroyed a good loyal Republican party The sooner people rebuild the Republican Party the stronger American will be
noah goode November 12, 2012 at 06:53 pm
I always wonder why it is that when a person writes a screed such as the one Paul C. has written, it's little more than (and more often than not) unfounded accusations, criticisms and conspiracy theories, yet totally devoid of anything remotely resembling solutions.
Earned Income Tax Credit, Unions, Middle Class, Communism/Socialism, tax tax tax tax tax tax, tax; one comes off sounding too closely allied with the aluminum foil hat-wearing, Roswellian conspriacist, end-of-times/mayan calender/doomsday bunker fringe groups than as anyone with any constructive solutions.
Theresa Taylor November 12, 2012 at 07:25 pm
The minute any one starts with the "OHMIGOD communism", "Chairman Mao Loy" whargarble (which is EXACTLY what it is), IMHO, automatically makes the opinion not worthy of anyone's time. Me thinks someone's tinfoil hat needs some adjusting - it's on a bit too tight.
teresa hoff November 12, 2012 at 09:04 pm
you get what you voted for, in this case more spending and more taxes.
Paul Hawkins November 13, 2012 at 12:35 pm
"The growing state budget deficit, the Mirror reports, is the result of revenue shortfalls that are greater than Malloy administration officials originally anticipated." WRONG. WRONG. WRONG. The deficit comes from spending that EXCEEDS revenues. There are two ways to balance a budget. But of course, our Gov only knows of one of them. He knows it's hard to buy votes with spending cuts.
Ken November 13, 2012 at 12:43 pm
Eileen McNamara -
"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." Shouldn't that read, "$1.5 BILLION" ??? Connecticut is the new Greece...
Deborah Netto November 13, 2012 at 03:34 pm
It's called Agenda 21, a policy from the UN that has been discussed by the elites for decades. They mask it under words like sustainable and global warming. When they take away our cars because gas is too high(why did Obama talk about no more $ to the suburbs high speed rails) to take away our independence, don't whine. But don't trust what I say, do your own homework Sheeple and google Agenda 21.
Wyatt November 13, 2012 at 04:00 pm
@Deborah. The "sheeple" comment is deliciously ironic.
Deborah Netto November 13, 2012 at 05:06 pm
Wyatt, check out the Iquilt project in Hartford. Agenda 21. I suppose you would love to ride on the $500 million busway from NB to Hartford in which you actually have to get off I-84 to get on the busway that travels on I-84. Makes perfect sense, doesn't it. Especially when traffic patterns show no one is going east on I-84, everyone is traveling West. Look it up, don't take my word for it.
Paul Chotkowski November 13, 2012 at 06:04 pm
Mr. Goode & Ms Taylor, thanks for taking a moment out from mindlessly chanting from “Rules for Radicals” [oops should have said communing with Gaia ओं मणिपद्मे हूं ] penned by the patron saint of all Forward Moving Progressive Socialist throughout America, Saul Alinsky. American Marxist never address the issues in a debate [$110 M EITC].They engage in the politics of personal attacks & ridicule. Anyone who disagrees with their right thinking position on radical egalitarianism controlled by properly educated Marxist elites are social deviant, psychologically unstable, and suffering from the 20th century's equivalent of Drapetomania which would require that you lose your autonomy / be commitment to a State run mental institution under politically reliable psychiatric care, à la the CCCP. So please continue on with the Tin Foil Hat theme [good luck finding tin foil by the way]. Just keep paying your taxes and union dues. There are an awful lot of state employees' salaries, benefits, pensions, and retirement health care to pay for and even more disadvantaged victims of America’s racist, bigoted, homophobic, misogynist, colonist past looking for social justice and monetary reparations! Quick before the current fractional reserve banking system collapses! Maybe the Unions can swap SEIU Purple shirts for proper Brown ones [Sturmabteilung], restore social order & build a focused Forward looking socially just Soviet [oops should have said society].
Wyatt November 13, 2012 at 06:44 pm
@Deborah. So now the iQuilt project is some sort of conspiracy too?? What nefarious plot is the iQuit project designed to unleash on us?
Matt Smith November 13, 2012 at 09:04 pm
Good thing the State spent $26 Million so we can now have 7 digit license plates! Boy, I didn't know what I was going to do without those! Another freakin' waste of money.
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