The Governor put out a press release today highlighting the worsening budget situation:
Governor M. Jodi Rell today announced the economy continues to erode all major revenue streams for the state, eroding the bottom line for her proposed two-year $38 billion budget presented to the Legislature nearly two months ago.
The Office of Policy and Management outlined its revised revenue estimates today in a letter to the Governor. The report takes into account the latest projected tax revenues, including personal income tax and sales tax as well as casino revenues and other fees and estimates the cumulative two-year deficit at just over $7 billion.
The budget situation is now so bad, it is threatening to catch up to how bad OPM Secretary Robert Genuario said it was on January 20 or how bad she herself said it was on February 2!
In the release, Rell said to the legislature:
It is well past time to stop fiddling around the edges and seriously focus on the task at hand – deliver a balanced budget for the taxpayers of Connecticut.
To which the legislature should reply, “Ditto.”