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Posted inMoney, Politics

CT staring at another $1B deficit after next state election

Since Gov. Dannel P. Malloy’s administration announced state income tax receipts were lagging due to weak stock market earnings, much of the Capitol’s focus has been on the relatively small hole it opened in the current budget. But the projected loss of $100 million in tax receipts this year also exacerbates a much bigger budget problem just down the road.

Posted inMoney, Politics

Partisan debate heats up as state’s credit card nears its limit

Gov. Dannel P. Malloy drew criticism this year when he warned Wall Street investors he would boost state government’s effective credit card limit by 40 percent this year. But if the State Bond Commission approves all of the financing Malloy has proposed for next week’s meeting, the governor will have used up 95 percent of his self-imposed credit limit – with five months still to go in the calendar year.