Hey Connecticut – Nothing to worry about as the ‘Catastrophic Structural Failure’ crisis grows

Today’s CT Newsjunkie headline reads – 2016 Budget Is Back In The Red – $141.1M

In his monthly letter to state Comptroller Kevin Lembo, [Malloy’s budget chief Ben] Barnes said the state’s revenues have slipped again and the budget is experiencing a $141.1 million shortfall. That’s just three weeks after the General Assembly closed a $220 million budget gap.

The additional $141 million deficit that the Malloy administration is now admitting to comes on top of the $220 million deficit that was announced a couple of months ago, which came on top of the approximately $600 million in deficits that had been previously announced since July 1, 2015.

The appalling truth is that with about 70 days left in the fiscal year, the state budget approved by the Connecticut General and signed into law by Governor Dannel Malloy, last spring, was out of balance by over $1 billion.

Should it come as a surprise that the state budget that Malloy signed and deemed to be balanced was actually underfunded?

Hardly….

Last June, on the day the Connecticut General Assembly adopted this year’s state budget, the Wait, What? post read The Train Wreck of the Democrats’ State Budget and a few weeks later came an update entitled, CT’s Legislative Democrats set to make a bad budget worse.

Yet, speaking about the glory of the newly adopted state budget, the President of the Connecticut State Senate called it, “one of the best in his 35 years in the general assembly.”

And from Dannel “No New Taxes” Malloy came what may have been the quote of the year as Malloy exclaimed,

“A brighter tomorrow will start with this budget today. This agreement will help Connecticut now and in the long-run — it helps transform our transportation infrastructure as we aim for a best-in-class system. It supports our schools, supports the middle class, and supports vital programs for those who need it most. Most importantly, it helps us build a Connecticut for the long-term, making our state an even greater place to live, work, and raise a family.”

Yet despite those bizarre pronouncements, Malloy and his political operatives continue to pretend that it is Malloy, himself, who is the voice of fiscal responsibility.

Note that along with today’s announcement about the growing deficit, Malloy issued a statement saying;

“The question is no longer whether we’re in a new economic reality, it’s what we’re going to do about it.”

Wait, What?

Malloy is actually claiming that he is the one prepared to deal with the “new economic reality” in a responsible manner?

It was only 11 weeks ago when the February 3, 2016 Wait, What? headline reported, Malloy presents a state budget plan that would make hip hop artist B.o.B. proud.

Flanked by Lt. Governor Nancy Wyman, his “policy-partner,” Democratic Governor Dannel Malloy lectured a joint session of the Connecticut General Assembly today about the importance of being fiscally responsible.

It was a grand theatrical performance that would make hip hop artist B.o.B. proud.

Less than two weeks ago, singer and music producer B.o.B informed the world that despite what we have been told, the World is Flat!

Like Governor Dannel Malloy, the “all-knowing” musician laid down the “truth” about the flatness of the Earth explaining;

“No matter how high in elevation you are… the horizon is always eye level … sorry cadets… I didn’t wanna believe it either.”

“A lot of people are turned off by the phrase ‘flat earth’ … but there’s no way u can see all the evidence and not know… grow up.”

“I question the international laws that prevent you from exploring Antarctica and the North Pole… what’s there to hide? …I’m going up against the greatest liars in history … you’ve been tremendously deceived.”

[…]

Earlier today, doing his best to channel B.o.B. into the historic chamber of the Connecticut House of Representatives, Governor Malloy took off on a fantastic ride of revisionist history in which he blamed everyone but himself for the fiscal disaster that is dragging Connecticut into the muck.

[…]

Malloy’s rhetoric about honest budgeting was only eclipsed in today’s speech by his comments regarding his record when it comes to Connecticut’s long term debt obligations.

Unconstrained by the truth or his own record in dealing with Connecticut’s failure to properly fund its pension and post-employment benefit programs, Malloy pontificated;

“Now, it has fallen upon us to fix it. After decades of neglect, we are finally paying our pension obligations every year. I think we all know that must continue.”

This from a guy who just a few months ago proposed kicking the can so far down the road that we’d shift more than $8 billion in pension liabilities onto the backs of Connecticut’s children and grandchildren.

And lest we forget, it is Malloy who has gone crazy with the state’s credit card, borrowing money to pay for various pet projects including his massive corporate welfare program.

As for his immediate commitment to making even deeper cuts to state programs, Malloy’s approach is probably best reflected by his proposal to cut funding for dental care for poor children and his plan to save $1 million by “reducing the burial benefit for indigent people from$1,400 to $1.000.”  That last one was actually something Malloy proposed last year, but legislators reviewed the issue and trashed the plan.

Here is the reality.

What we are witnessing is a “Catastrophic Structural Failure” of leadership and as Connecticut’s fiscal house burns to the ground, Malloy, Wyman and their team continue to function as if the whole situation is nothing more than a political game in which the contest is to see who can come up with the best sounding rhetoric and political soundbites.

To them it may all be a game – a joke – but the damage from their actions is raining down on the people of Connecticut who are suffering and will continue to suffer under state leaders who have completely lost their ability to decipher reality, let alone act on it.

If Malloy’s determination to coddle the rich and deny the fact that additional tax revenue will be needed to ensure a fair, balanced and appropriate state budget, is not challenged and reversed, Connecticut will continue its parachute-less plunge toward destruction.

  • JMC

    $141 million shortfall? Hmm… that’s about exactly the dollar amount of free cash the State of CT doles out each year now in the Earned Income Tax Credit giveaway that commenced in 2012. Tax, Spend, Indebt, Entitle, Kick the Can. What could possibly have gone wrong?