Intersting Forbes Article on the state of CT economy

[RuffRuff]

Not sure if posted, but makes you wonder on how all is perceived

http://www.forbes.com/sites/jimpowe...o-one-of-americas-worst-performing-economies/

 

[uconntailgater]

I remember when that article first came out. It truly was an eye-opener. Not mentioned in the article, since it was written in 2013, is the $500 million deficit coming our way 2016. I would love for UConn to be invited to the BIG. I'm afraid we may not be able to obtain AAU status due to our budget constraints and the looming deficit. Hopefully, I am wrong on this matter. I would love to move out of the state, but I have two aging parents to keep an eye on.

 

[DarthGrumpy]

$500 million, please, that's pocket change. Last I read, Jersey 's public pension deficit alone is north of $50 billion.

 

[jostar1]

COMPTROLLER LEMBO PROJECTS $504.9-MILLION SURPLUS FOR FISCAL YEAR 2014

Comptroller Kevin Lembo today announced that the state is currently on track to end Fiscal Year 2014 with a $504.9-million surplus – a number that could grow following this month’s revenue collection, barring any last-quarter spending increases. In a letter to Gov. Dannel P. Malloy, Lembo said he agrees with the Office of Policy and Management’s (OPM) latest projection, which is a slight increase of approximately $500,000 from last month’s estimate.


- See more at: http://www.osc.ct.gov/public/news/releases/20140401.html#sthash.cy5bMil3.dpuf

 

[uconntailgater]

Medicaid spending by the state has been moved off the books to make it look like we have a surplus. A $500 million deficit is coming by 2016 to go along with about a $50 billion pension liability. This years supposed surplus is a shell game. This state is in dire fiscal straits.