Connecticut’s $4.3 billion budget surplus allows the state to make a huge payment against longstanding pension debt.
CT used billions of budget surplus dollars to pay down pension debt, freeing up $440 million annually to use for other programs.
Regular and supplemental payments into the state’s cash-starved pensions will approach $6.5 billion this year.
In his first budget forecast of the new fiscal year, Comptroller Kevin P. Lembo warned Tuesday that the $126 million projected budget surplus isn’t all good news.
Connecticut’s chief fiscal watchdog slammed the brakes Tuesday on Gov. Dannel P. Malloy’s assertion that the new state budget is on its way to another surplus.