Seven years into Connecticut’s self-inflicted fiscal crisis, Governor Dan Malloy and his insider allies in Hartford are once again looking to struggling Connecticut families and businesses to sacrifice more rather than bringing real reform to a broken state government and crushing unfunded liabilities.
Recently, the governor called for $300 million in new taxes and other revenue “enhancements” — code language for other new tax hikes.
What is particularly unacceptable about the governor’s renewed drive to shake down hardworking families is the complete and utter lack of reform to the state’s incredibly generous system of benefits.
The real drivers of Connecticut’s economic collapse are unfunded liabilities, the cost incurred by the state guaranteeing pensions and health care benefits for which we have not properly budgeted for the promises we made years ago. The state has at least $22 billion in unfunded pension liability and another $19 billion for health care.