Connecticut, the state with the richest population, may not have enough money in its own pockets, says a story in Monday’s Wall Street Journal.
“Connecticut has roughly half of what it needs to pay future retirement benefits for its workers, meaning the home to scores of hedge funds and some of the country’s wealthiest towns is wrestling with financial distress rivaling that of Kentucky or Illinois,” the newspaper said.
“Some investors concerned about the size of Connecticut’s pension hole are backing away from bonds issued by the Constitution State or demanding bigger rewards to hold them.
“Investors in some Connecticut state bonds now get a premium of about half a percentage point above benchmark bonds from other states, up from 0.28 percentage point a year ago, according to Thomson Reuters Municipal Market Data. Only four other U.S. states are now priced as riskier bets.”
At what time will we, Westport residents, hold the Governor , the leadership in Hartford and Representative Steinberg responsible for the states financial mess.
The financial situation in Connecticut is getting worse, much worse. The Governor and the leadership in Hartford have begun new cuts to services and payments to towns across Connecticut.
Connecticut ended the 2014-2015 fiscal year with a $100+ million deficit. To plug the gap, Governor Malloy raided the
Quick show of hands, who voted for this incompetent Gov?
Amazing how this state has turned in such a short time, next time , have the candidates take an intelligence test before they can run and potentially govern.
Gus. It only takes a few more representstive changes in Hartford to stop the support for the Governor and the financial disaster we face.
While I know people like Representative Steinberg as a neighbor, HE VOTED for the unrealistic budget. Now Wetsport state aide has been cut by almost $500,000, hospitals has seen over $190 million cut in the drastic budget cuts just instituted by the Governor, and we face another huge deficit in the coming years. And no doubt higher taxes are coming.
How can he face his constituents, his neighbors in Westport knowing he is responsible for voting in favor of the budget? We just lost $500,000 we were expecting and this is happening half way thru the year.
Want to make change-do the right thing and vote for people who will promise not to support the nonsense in Hartford. If we don’t we will just have ourselves to blame.