Deficit Reduction Bill Passes

Democrats kept about two-thirds of the governor’s deficit reduction proposals in the bill agreed upon by the House and Senate last night.

Sen. Williams indicated that this was not the last we’d hear on the subject: “There is no doubt that in the coming weeks we will act on another deficit mitigation measure.”

The governor is expected to sign it.

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6 responses to “Deficit Reduction Bill Passes

  1. Given the revenue problems, there appears to be a real possibility that the state could run so low on cash that it won’t be able to pay its bills ( including income tax refunds) by spring. I think it’s fairly clear that the House Dems plan on tapping the Rainy Day Fund to fund the final deficit.
    This raises an interesting question. I assume that the $1.4 B RDF isn’t being stored in Nappier’s desk drawer, but has been invested . Given the recent performance of the market, it’s conceivable that the $1.4 B has shrunk and the full amount may not be there. The RDF is a book entry, but I wonder if the cash is actually there.

  2. I assume that the $1.4 B RDF isn’t being stored in Nappier’s desk drawer, but has been invested . Given the recent performance of the market, it’s conceivable that the $1.4 B has shrunk and the full amount may not be there. The RDF is a book entry, but I wonder if the cash is actually there.

    Not only is this entirely accurate, but if they tap out the RDF and it hadn’t lost a penny, where do they plan on getting the other $6 billion for the next fiscal year?

    Listen up Connecticut! We know you’re losing your jobs or taking pay cuts to keep them, and having trouble paying your bills… but you aren’t paying enough taxes to keep the lumbering, belching beast of government sated. Therefore, you can expect an increase in your taxes this year so legislators can keep all their pay and be certain to have plenty of your cash to spend on political campaigns next year as well. After all, it’s for THE PUBLIC GOOD!

  3. Frankly I think a far bigger concern for all of us are people like Denise Merrill. She still at least publicly is saying our state’s mess was not caused by any mis management here in CT but all nationally.

    She is the same person who also is saying the lawmakers are taking a “careful approach to the budget wanting to stimulate growth, not contribute to the state’s economic down turn”….

    Do they put something in the water up there at the LOB????? If they do I want some of the same stuff……

  4. She is the same person who also is saying the lawmakers are taking a “careful approach to the budget wanting to stimulate growth, not contribute to the state’s economic down turn”….

    I heard Williams say something along the same theme. He was pondering out loud that eliminating $3 B of state spending would be a huge hit to the state’s economy. I wonder if Williams ever thought about where the $ 3 B comes from? The state’s economy? Taking $3B out of the economy is a bigger hit.

  5. Sen. Williams indicated that this was not the last we’d hear on the subject: “There is no doubt that in the coming weeks we will act on another deficit mitigation measure.”

    Yes, why actually do what you were elected to do when you can just keep putting it off….again.

    This guy’s Senate leader?

    He looks like Mr. Procrastination.

  6. Deficit mitigation? Is that like “balancing the budget”?

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