Wednesday, April 30, 2008

Bye-bye surplus; state deficit is here

According to the AP, the financial situation isn't looking so rosy for the state:

This fiscal year is now projected to end on June 30 at least $19 million in the red. "In all candor I believe we will see the revenues continue to decline," said Governor Jodi Rell.

The cause of the diminishing surplus appears to stem from a combination of slowing state revenues and a delay in federal Medicaid reimbursements. The bad fiscal news prompted Rell on Tuesday to threaten a veto of a key crime bill that includes tougher penalties for repeat violent offenders and $10 million for more prosecutors, state police, probation officers and other programs, such as housing for sex offenders. She said the state couldn't afford the spending portion of bill.

But beyond Governor Rell, it seems things are worsening. Even Speaker Jim Amann is taking on a Gubernatorial tone:

"Certainly, we'd love to help everyone in the state of Connecticut," said Amann, D-Milford. "But I think we're all hurting, including the state government right now. The best thing we can do is have a balanced budget."

I wonder if the state is going to pull another one of their "mid-year budget cuts" and tell the Town in December (or sometime after the election) that promised funds won't be delivered.

Tim White


Anonymous said...

Hello. People don't have money. Maybe the State will give some thought to all the "STUFF" they give out to Towns for needless things. How about some caps on salaries and spending? We can't just keep raising the taxes and prices on everything. Something will give.

Anonymous said...

Amann wants to give Cheshire 525,000 for a toxic turf field. We don't need it, many don't want it; he can have it back!

Where are these peoples' brains?

Anonymous said...

To all you folks (including fellow Republicans) crowing about the expected windfall from Hartford and demanding lower mill rates

I told you so!!!!

We will do well not to have our 2009 school aid reduced

No matter: under CT logic we will lay off troopers and raise taxes but the artificial turf fields and gazebos will be constructed as planned

Anonymous said...

True leadership would now say to give the State money for the turf field back. There are other matters of greater importance and yes, they may in another Town or for the overall good of the State.

Would true leaders please stand up and identify there anyone, anyone at all out there, going once, going twice,please anyone out there, please stand up and identify yourself.

Anonymous said...

Give back the turf money so they don't cut the school aid $$!

Anonymous said...

Those were projected surpluses. Budgets are just good estimates of future spending and income. Who really knows what will happen? All I know is that oil is driving prices of everything way up. Salaries are not going up to keep up and business will suffer. We are in a real pickle. This is something we have never experienced. I hope something positive happens soon.

Anonymous said...

"This is something we have never experienced".

Some of us are old enough to remember 1979-1980. same story. Good news now: no gas lines; relatively low interest rates. bad news now: lending standards in the 1970's were more responsible: hence fewer foreclosures