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Report: CT Having Trouble Paying its Bills

There's a $200 million deficit on top of other problems.


The state is at such a rapid rate that it's raising concerns among some officials that Connecticut may have to borrow money to fund its operating

In a recent report to the legislature's Finance, Revenue and Bonding Committee, State Treasurer Denise L. Nappier wrote that Connecticut's looming $200 million budget deficit has cause the funds in one account used to pay bills to drop "substantially."

The balance of the so-called "common pool," has dropped from $895 million last May to $121 million now, Nappier wrote. With the fund's depletion, she said in her report, and the state's overall spending trend "the need for temporary transfers or other resources is growing."

Her report has sparked fears among some legislators that borrowing may be needed to help fund the state's operating budget, according to a report on the Connecticut Mirror website.

AG June 09, 2012 at 08:25 PM
Double dipping supers are part of the problem but the twisted logic of BOE claims its "saving" us money. Orwell would be proud.
karleen loughran June 10, 2012 at 12:47 PM
Absolutely not! What we need is a Governor Walker here in Connecticut! Enough of this out of control spending and staying with government pensions that are unreasonable and certainly out of sync with what the rest of us live with.
Charles Baltayan June 11, 2012 at 02:42 AM
Pensions are just the tip of the iceberg with the politicians more akin to the Captain of the Concordia.... too many people are drowning and we need to hold the politicians accountable for their irresponsible fiscal and corrupt behaviors.
william tuttle June 12, 2012 at 01:25 AM
Gov. Walker has led WI to the most job losses in the whole country for 2011 and WI had half the GDP growth as CT...so let the zero stay where he is, those people get what they deserve.

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