Connecticut, we have a problem. Governor Malloy’s running our economy purely on executive orders because there’s no state budget. Unfortunately, his little foray into this new system of checks and balances put us really into the red. So red.
Like, if I didn’t know that I was looking at our state finances, I would’ve thought it was a Valentine’s Day card.
CT Mirror reports that a month in without a state budget, the state is currently $94 million in the red. Which, should our state leaders continue their Mexican standoff, the debt will just keep on piling up.
Like, should this trend continue, Connecticut could close out the year with a $1.6 billion deficit.
And, still, no one’s really crying foul. Except for Malloy’s attempt to be Robin Hood by stealing funding from the wealthier school districts and handing them off to the poorer ones.
Because that made sense.
Anyways, safe to say inevitable tax increases will start knocking on our doors any day now. Not just sales tax, either.
Our property taxes might take a hit due to Malloy’s aforementioned attempt to redistribute the school spending wealth. And, also, have municipalities pay a third of all teacher pensions.
As it stands, his administration aims to alleviate budget shortfalls by redirecting $94.5 million from sales tax receipts from their holding account.
His administration also cut a 2015 municipal grant program that shared state sales tax receipts with cities and towns. Also, in an attempt to quell rising property tax rates.
Still, his idea of cutting spending really does jack when it comes to fixing anything. He still thinks you can spend your way out of a deficit. Because redistributing basically the same amount of cash doesn’t count as “trimming the fat.” The state’s still pumping out the same amount of money, but this time, he’s expecting different results.
Uh, I’ll take “definition of insanity for $5 billion, Alex.”
Anyways, let’s grab our handkerchiefs and wave to the state as it sinks faster into red ink.
I know it’s an impossible job to run a state without a budget to outline where and how much money to spend, but there has got to be a better solution. What should our state do while our representatives attempt to hammer out a budget?
I say let the state fall down, go boom, declare bankruptcy, and attempt to rise from the ashes. A complete reset.
Wait… too far? Because there’s still hope for us? Okay, what’s your solution to bring us back into the black. If your idea holds water, you should totally run for state office.