Connecticut is “poorly poised” to handle a moderate recession when compared to other states, according to a new analysis by Standard and Poor’s Global Ratings Tuesday.
debt service
Posted inMoney
Nappier: Malloy’s budget doesn’t cover state’s credit card bill
Gov. Dannel P. Malloy’s new budget proposal could be $50 million to $74 million out of balance if state Treasurer Denise L. Nappier and the legislature’s nonpartisan analysts are correct about what Connecticut owes on its credit card.
Posted inMoney, Politics
Malloy gets his transportation bonding — but not his ‘lockbox’
Gov. Dannel P. Malloy got the $2.8 billion in bonding he needs to launch his transportation overhaul initiative — but not the legal ‘lockbox’ he insisted upon to protect it.
Posted inMoney
Nappier seeks middle ground with Malloy on bond premiums
State Treasurer Denise L. Nappier unveiled a compromise plan Monday to reform state bonding practices while also giving Gov. Dannel P. Malloy and the legislature some flexibility to use borrowed funds to balance the next two-year budget.
Posted inMoney, Politics
Treasurer: Malloy plan could harm state’s reputation with investors
State Treasurer Denise L. Nappier warned Gov. Dannel P. Malloy on Friday that one component of his new budget could harm Connecticut’s reputation on Wall Street. In a letter released to the media Friday evening, Nappier – a Democrat – called the Democratic governor’s plan to rely on $325 million in borrowing to cover operating costs “too aggressive.”
Posted inEducation, Money, Politics
Malloy may run afoul of his pledges whether taxing or cutting
Governor Dannel P. Malloy faces plenty of critics who argue he can’t balance the next state budget without breaking his campaign pledge not to raise taxes. But Malloy will be equally hard pressed to close next year’s $1.3 billion-to-$1.4 billion deficit with spending cuts, given the many pledges and fiscal principles he has espoused since taking office four years ago.