Gov. Ned Lamont’s proposal waives penalties and caps interest at 3% over each of the next two fiscal years.
Special interests have declared war on state employees. Through spin mills like the Yankee Institute, they’ll tell you that we’re overpaid and don’t deserve it and have rich benefits that we don’t deserve. They’ll try to con you into supporting their scheme to take money out of our pockets and put it into theirs. Let them get away with it and your pockets will be next. That’s because, for them, the easy profits have gone overseas. The next mother lode is in your paycheck. Their profits will come from what they can take from you.
In the waning hours of the 2015 legislative session, as the exhausted members of the General Assembly debated the budget during an all-night session, Democratic leadership pulled their rank-and-file members out one by one to promise, cajole, and threaten them into voting for the budget. Now, half a year later, we can see why so many Democratic legislators were reluctant to join their leadership in voting for the budget. All of the warnings came true – people and businesses are leaving the state at a faster pace than ever, revenues continue to lag behind expectations, and the state budget remains out of balance.
As legislators and others look closely at the cost of state employee salaries and benefits, one crucial factor often gets little or no attention: The overwhelming bulk of costs Connecticut faces today to support pension programs for state employees and public school teachers is from cleaning up problems caused years – and in many cases decades – ago.