CT Gov. Malloy To Announce $150 Million In Immediate Budget Cuts (Hartford Courant)

November 28, 2012 – Facing a bleak financial picture this year and for years to come, the Malloy administration will announce at least $150 million in immediate budget cuts this week and dramatic policy changes in coming months. On Tuesday, state budget czar Ben Barnes provided a grim overview of Connecticut’s long-term finances, telling a room packed with lawmakers that Connecticut faces a series of “extraordinarily difficult decisions to reduce spending.” The state must overcome a $363 million projected deficit for this year and an estimated shortfall of $1.1 billion in 2013-14. Depending on the cuts that the governor and the General Assembly make in the coming legislative session, the state could also be grappling with deficits close to $1 billion in 2015 and 2016.

Link to Full Article: http://www.courant.com/news/connecticut/hc-deficit-general-assembly-20121127,0,1862752.story

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