The state is at such a rapid rate it's raising concerns among some officials that Connecticut may have to borrow money to fund its operating
In a recent report to the legislature's Finance, Revenue and Bonding Committee, State Treasurer Denise L. Nappier wrote that Connecticut's looming $200 million budget deficit has cause the funds in one account used to pay bills to drop "substantially."
The balance of the so-called "common pool," has dropped from $895 million last May to $121 million now, Nappier wrote. With the fund's depletion, she said in her report, and the state's overall spending trend "the need for temporary transfers or other resources is growing."
Her report has sparked fears among some legislators that borrowing may be needed to help fund the state's operating budget, according to a report on the Connecticut Mirror website.
The Bus Way Needs To STOP as Well-A HUGE Waste Of Taxpayers Money!
In case you were wondering, neither of them are "liberals"! But, now that the project that Rowland and Rell pushed is going forward under a Democratic Governor, all of a sudden it's a bad idea. Where were all of you when the republican governors proposed it and championed it?
Oklahoma City chemical firm Tronox is relocating its corporate headquarters to Stamford, Conn., a move company and state officials there say will create 100 jobs over three years. The company — which produces titanium dioxide, a white pigment commonly used in paint and various coatings — will retain some officies in OKC, Connecticut Gov. Daniel P. Maloy said in a statement. Connecticut offered Tronox a $3 million loan with discount rates, reports the Hartford Courant’s Mara Lee: The first $2 million would be forgiven if 60 full-time jobs were established in the first year, and the entire loan would be forgiven if the company sustained 100 jobs for three years. Tronox filed for bankruptcy in 2008, and emerged from restructuring last year. “The company was spun off from Kerr-McGee in 2005,” The Oklahoman’s Paul Monies reports. (Source:) http://stateimpact.npr.org/oklahoma/2012/06/06/connecticut-lures-okc-chemical-firm-with-3m-loan/
deserves attention because the article address the real reasons behind the recall. One point that is highlighted is that Wisconsin's budget is balanced. Yes, and if I may add, it appears with little or no impact on the overall lifestyle. services, or safety of any citizens. Malloy has to be a one term governor and term limits are needed in the state of Connecticut.
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Does anyone else think Dan Malloy suffers from ADHD?
The state is only weeks away from borrowing money to pay for monthly operating expenses because its cash accounts are depleted to near-record lows.