CT: Projected deficit for next fiscal year tops $1.1 billion (CT Mirror)

November 16, 2012 – State analysts Thursday projected more than a $1.1 billion state budget deficit in the fiscal year beginning July 1, a gap roughly one-third the size of the record-setting shortfall that Connecticut’s governor and legislature tried to close just two years ago. The projected shortfall for the coming year is sandwiched between the $365 million deficit Gov. Dannel P. Malloy’s administration reported Wednesday for the current fiscal year and a long-range forecast for another gap of more than $1 billion in 2014-15. But since the governor and legislature must balance the current books and craft a new two-year spending plan this spring, that means they must wipe $2.5 billion in real and projected red ink off the state’s books before the 2013 session ends next June. he $1.1 billion gap means state government has recovered nearly one-third of the mammoth-sized deficit Malloy inherited just two years ago.

Link to Full Article: http://ctmirror.com/story/18217/ct-projected-deficit

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s