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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.

What do you think can be done to reduce the deficit?

Pro Death July 05, 2012 at 06:40 PM
Malloy caved in and reneged on everything he said he would do to reduce spending.
DisgruntledInClinton July 05, 2012 at 07:12 PM
Has he taken on the unions? Only the state police. Regular unions? No. Schoolteachers? No. Government workers? No. And now he's probably wondering why corporations are leaving. And wealthy people are moving out of state, as they're the only people who can afford to. The rest of us are stuck with greatly devalued homes. Or homes "under water". When will you people learn? Dems love to tax and spend. And it NEVER works.
John Schlag July 07, 2012 at 06:09 PM
Until the CT legislature curbs the unions and their greed we will continue to be faced with this problem. It is far past time to get rid of Christopher Donovan and his greedy corrupt ilk.

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