Posted inMoney, Politics

Pew study: States’ reserves left them only half prepared for Great Recession

Connecticut was far from the only state whose fiscal reserves weren’t enough to withstand The Great Recession, according to a new report from the Pew Charitable Trusts. The new study recommends several steps to help states better prepare for economic downturns – including proposals Connecticut’s legislature has resisted in the past.

Posted inEducation, Health, Money, Politics

Analysts: Malloy’s budget for Connecticut never was balanced

Just one month from adopting the next state budget, legislators have learned the $19 billion plan they got from Gov. Dannel P. Malloy has a $70 million hole in it, according to a new report from nonpartisan analysts. Republican legislative leaders say the shortfall happened because the administration dismissed a warning about rising health care costs five months ago.

Posted inMoney, Politics

More than $500 million available for election-year state budget

There could be more than $500 million available to Gov. Dannel P. Malloy and the legislature this spring as they prepare the final state budget before the 2014 elections. According to the regular monthly report filed by Malloy’s budget staff with Comptroller Kevin P. Lembo’s office, this fiscal year’s budget is on pace to run $273 million in the black.

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