Posted on 05/26/2017 4:05:01 PM PDT by Early2Rise
The administration of Gov. Dannel Malloy, a Democrat who has been in office since 2011, projects a budget deficit of more than $5 billion over the next two years, thanks to generous pension benefits and the burden of servicing its big debt, plus falling tax revenue due to the exodus of large employers and residents reaching retirement age.
Its budget woes, as well as concerns that they will be repeated year after year, helped lead General Electric in 2015 to consider moving its headquarters out of the state. Last year, it did exactly that.
The state’s population is falling: Its net domestic out-migration was nearly 30,000 from 2015 to 2016. In 2016, it lost slightly more than 8,000 people, leaving its population at 3.6 million. Indeed, recent national moving company surveys underscore the trend, showing more people leaving Connecticut than moving in. In 2016, the state also saw a population decline for the third consecutive year, according to Census Bureau estimates.
One of the companies, United Van Lines, reported that of all their Connecticut customers, 60 percent were leaving compared to 40 percent who were moving there. Only three other states had higher rates of people moving out – New York, New Jersey and Illinois. One out of five of those leaving said they were retiring.
Truth in Accounting, a nonprofit whose mission is to provide information about government finances, gave Connecticut a grade of "F" on its fiscal condition.
"Connecticut has $11.3 billion available assets to pay $74.9 billion worth of bills," its report on the state said. "Connecticut would need more than $20,000 from each of its taxpayers to pay all of its bills."
(Excerpt) Read more at foxnews.com ...
How much of the wealth is actually liabilities? I am willing to bet a great deal of it was.
The single largest contributor to the state deficit will not even be discussed by the governor, the legislature, or the local media.
If you won’t even talk about it you sure can’t fix it:
http://www.fairus.org/DocServer/state_infographics/Connecticut2014.pdf
Maybe they can borrow some money from California or Puerto Rico.
Liberals happen!
Illegal aliens will bleed you dry.
Maybe they should re-think their embrace of citizens of other countries who broke into ours.
“Illegal aliens will bleed you dry.”
EVERY time !
Liberal wealth rat control and spending
Good news for Connecticut! Bad economy means fewer deaths in automobile accidents. Plus, if enough people leave, less expense for road work and so on. Drive the people out, it is a winning strategy!
Libtards really know how to run things into the ground.
May??
I think Liz might be trying to say "emigration. It is a matter of prefixes. That used to be taught in school, but that was long ago.
most journalists are scared of definite predictions
get them selves a nice helping of somalians...load them into the gated communities and all will be well...
Nothing that a big healthy tax increase won’t cure.
5 billion? That’s chump change for a state like California.
Nothing that a big healthy tax increase won’t cure.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Tax the rich.
On these lists you'll *always* find Connecticut,New Jersey and Maryland as the top three...the order of the three varies from time to time.
Anyone who's ever driven (or walked) the streets and roadways of Greenwich,New Canaan and Darien,looked at the houses (sorry,estates) and noticed that Ferraris and Bentleys are a dime a dozen there know the score.
But then leftists have,over history,shown an ability to f*ck up a bowl of corn flakes and Connecticut is no exception.
The liberals who are leaving will just turn other states liberal.
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