There’s not a whole lot of wiggle room in the state budget, according to the Office of Fiscal Analysis.
The non-partisan OFA projects funding deficiencies of $65.2 million shortfall in the General Fund and $1.3 million in the Transportation Fund.
“The State Agency Deficiencies are indeed troubling, but I think there are a few things to keep in mind here,” said state Rep. James Albis, a Democrat representing East Haven in the 99th House District.
Albis pointed to a Nov. 15 OFA report projecting a $101.2 million General Fund surplus, which the legislature could use to cover any agency deficiencies. In addition, the estimated $66.5 million deficiency is one-third of one percent (0.35%) of the annual $18.7 billion state budget.
Ben Barnes, Secretary of the Office of Policy and Management, appreciates the concern but said the deficiencies are small.
“I’m confident we will reverse that and finish the year in balance and under the spending cap,” Barnes said.
Albis also said it’s important to remember the Governor recently indicated he won’t refill 2,300 state positions that have been vacated, as a money-saving measure. Lastly, Albis said agencies are on notice to find ways to save money and make their departments run more efficiently, and are currently in the process of doing so.
None of this is enough to persuade state Sen. Joe Markley, a Republican representing towns in the 16th Senate District, including Cheshire.
“I'm concerned that we might bump up against the constitutional spending cap if agency expenses continue to run higher than anticipated,” Markley said. “We didn't fix our problems last session -- we papered them over with a mammoth tax increase, but we didn't tackle the overspending which is the real challenge.”
'A SINKHOLE STATE'
The Institute for Truth in Accounting, IFTA, called Connecticut a "Sinkhole" state.
The non-partisan agency said The Nutmeg State is one of five states in the worst financial position in the country. According to IFTA, while Connecticut has $29.4 billion worth of assets, only $10.1 billion are available to pay $63.4 billion of bills as they come due. IFTA also said each taxpayer's financial burden is $41,200.
“It’s a point well taken, and I certainly can’t deny that Connecticut faces some financial challenges,” Barnes said.
However, Barnes said the report doesn't recognize changes made to how Connecticut structures its budget, such as GAAP, or Generally Accepted Accounting Principles.
Markley wasn’t surprised by IFTA’s report.
"It's an accepted fact that we have the highest debt per capita of any state in the nation. Of all the challenges Connecticut faces today, that might be the most alarming, and discouraging,” Markley said. “We can't keep raising taxes -- our economy can't stand it: we must cut government spending. The sooner we recognize that, and the more seriously we approach it, the better for all of us.”
“Yesterday’s report was one point on a very long line. It’s still too early to draw any conclusions, though I will note that the state budget is still on track to end the fiscal year with a $101 million surplus, according to OFA,” said Lawrence Cook, spokesman for the Senate Democrats.
BIG BIG waste of money federal and State.
Markley is a goatee wearing, Gadsden flag waving, Tea Party dumbbell.
By the way. Why did you use quotes around the word "gets". It implies sarcasm and that he really doesn't get it.
I believe that statement was regarding his earlier tenure as a state senator, he was expounding on how all this law gets put into place with very limited checks and balances. I don't remember him being caught playing solitaire on his laptop during the session.
The state economy is what needs attention, not sick days or equal rights issues. You can focus all you want on entitlments but at the end of the day if no one can pay for them we're just another Greece.
We had had over 20 years of rule by Republican Governors who kicked the can down the road. You may choose to blame the fiscal problems on the Democratic legislature, but that just doesn't hold up. These Republican Governors made no budget cutting proposals - always increases. Then Jodi and John signed the final budgets in the end. Governor Malloy has been in office for 10 months, not 20 years. He's made a great start, and will do more. But you will never give him the credit he is due. But you give credit to Markley? Have a wonderful tea party.
I do not begrudge the government being the employer of last resort, like you do. Police, Firefighters, Teachers, Public Health Professionals, Road Crews, etc.; these are the essential jobs in an organized society.
Yes, these jobs you mention are essential jobs but at the end of the day they don't pay for themselves or bring money into the state. The private sector provides goods and services to customers, some being out of state, and this is where the new money comes from. Government is here ot provide needed services, protection, and maintain infastructure. Nothing they do generates wealth. We need the private sector to bring this "new" money in. Unlike government the private sector is here to make money, that's what drives it. Their goal is not to balance the books every year, it's to make a profit. Take more and more of this profit and business will find somewhere else to make it. We need leadership in this state that will really work with private business and make the cost of manufacturing more realistic. You can say that the private sector has abandoned us but when it comes down to it they really owe us nothing. We used to offer advantages like infastructure and a well educated workforce but the rest of the world has caught up. Business can go elsewhere and find good workers and transportation and it costs less. Your socialist outlook of government creating the essential jobs sounds good but it does not help us as a state or country prosper.
Also, I feel teachers "generate wealth." But, I guess it depends how one defines "wealth."
Build your bridges, schools, and transportation and tax business and whoever is left to pay for it. A state full of businesses and people with jobs will be able to absorb the cost over a state like ours with an already high tax base and shrinking tax revenues. You seem to have no problem throwing private business under the bus. May I ask where the money to pay for all this government you propose will come from?
Oh now I remember Obuma uses that all the time as does Joe Plagiarist Biden and Nancy Botox Pelosi.
I notice you haven't been writing as many comments lately as you had been.
Moochelles husband, the wife of the Socialist Marxist who is wrecking the USA. Cuba here we come. Let's be certain we buy lots of auto parts so we can use them to keep our autos running when we turn into Cuba.
No organization is monolithically BAD, nor GOOD. ANONYMOUS: The only difference between Republicans and Democrats, is that the Democrats "at least pretend to care" about the people "whose lives are ruined by their policies." There aren't any Judeo Christian (nor Catholic, nor Masonic) Governments. They are all secularly materialistic. Generally political parties helped friends & harmed enemies. News to Mr. Brown is that Government is the BIGGEST & MOST CORRUPT of ALL BUSINESSES. Again, N O T monolythically! It is the top of the Pyramid which is as rotten as the head of the Fish. If the JUSTICE / FBI / DEA / SEC / EPA / DOT / & all other agencies, & the THREE BRANCHES of GOVERNMENTS, in Federal, State, & Local levels - did their jobs of unbiased NON POLITICAL oversight then the WORST of the CORPORATE & PRIVATE SECTOR would have been held in check. DEMOcrat or HYPOcrats or DEMONcrats blindly support mandated OBAMAcare, when increasing people live PAYCHECK to PAYCHECK, or UNEMPLOYED or UNDEREMPLOYED, and can not AFFORD over priced (by 300%) Health Insurance or mortgages or utilities/staples. RepubliCAN'TS or RepubliCONNartists Health Care insurance plan can be labeled GOPdon'tCARE. HIGH UNEMPLOYMENT is good for: >Keeping Wages Low >Minimizing Benefits >Increasing Military Recruitment >Stealing Businesses & Homes. - Pharoahs' grave treasures were robbed!
the best wins... Just for Starters