Budget/Economy

Recent Posts

Old State House will lose historical memorabilia — for now

The Old State House in Hartford

Connecticut’s Old State House in Hartford, recently closed to the public because of budget cuts, will soon lose the paintings, antiques and other historic memorabilia it has housed for years — for the same reason. Continue Reading →

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Analysis: CT bond premiums grow debt by $550M since 2011

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State government added more than $550 million to its enormous debt burden over the past five years through its controversial practice of using borrowed funds effectively to support operating costs. An analysis prepared by Treasurer Denise L. Nappier’s office also noted, however, that the interest costs on these bond premiums are more manageable than some critics realize. Continue Reading →

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26 CT agencies say no more layoffs — for now

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The leaders of 26 Executive Branch agencies have informed Gov. Dannel P. Malloy's budget office of significant cuts they will be making to meet major savings targets in the new state budget. They also have said that no state employees need to be laid off beyond those already announced. Continue Reading →

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Education, social service agencies digest their big budget cuts

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Three critical state departments – education, social services, and mental health and addiction services – have submitted plans to the governor's budget office for saving their shares of the $847 million cut from this fiscal year's budget. Every state agency will eventually submit a plan. Continue Reading →

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Administration’s final CT budget report has good news and bad

Budget director Benjamin Barnes visiting the Capitol press room to report on state revenue forecasts.

The final report from Gov. Dannel P. Malloy’s administration on the just-completed fiscal year says the deficit for the 2015-16 fiscal year improved modestly, from about $316 million to $279 million, largely because of a last-minute surge in federal grants. But it also shows further erosion in tax receipts. Continue Reading →

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Another Wall Street agency downgrades CT’s credit rating

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Connecticut’s longstanding fiscal problems continued to raise concerns on Wall Street Tuesday as a third major rating agency downgraded the state’s credit ranking. Kroll Bond Rating Agency announced its downgrade Tuesday, citing Connecticut’s high debt, low reserves, eroding income tax receipts and a lack of wage growth. Continue Reading →

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Lawmakers challenge DEEP to make do with much less

A crowded day at Hammonasset Beach State Park in Madison.

Legislators pressed state environmental officials Monday to partner with municipalities, civic groups and corporate sponsors to preserve recreation, conservation and protection programs. But the officials responded that they already do that and closures are likely to worsen before things get better. Continue Reading →

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