Rell: Budget Getting Worse, Almost As Bad As It Was In January!

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.”

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2 responses to “Rell: Budget Getting Worse, Almost As Bad As It Was In January!

  1. Expect another dozen predictions as the Governor and legislature spends more time on press releases than actually making any kind of dent in the deficit. In the end they’ll throw up their arms and raise taxes.

    Gauranteed.

  2. Expect another dozen predictions as the Governor and legislature spends more time on press releases than actually making any kind of dent in the deficit. In the end they’ll throw up their arms and raise taxes.

    That’s going to be one massive tax increase. The so called “Millionaires Tax” won’t cover it and the tax increase are going to reach a lot of people, possibly including a lot of the people that have been immunized from the Income Tax up to now.
    That’s a tough sell even in the Democratic Caucus.

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