[JayCT]

I know we are all concerned with our state's budget woes but honestly another state appears to have an even bigger problem on their hand. North Dakota, that state that seemed invincible to economic issues over the last decade or so, is anticipating a $1 billion shortfall over the next two years due to declining revenue from the dramatic drop in oil prices. While this seems in line with some of our state's numbers you must remember that North Dakota has a population 1/5th the size of ours (about 740,000 residents)and outside the oil industry, it is mostly a state of farmers of very modest means. Will see how they handle it. Jay

North Dakota's oil bust blows $1 billion hole in state budget - Feb. 2, 2016

[HeadedWest]

Originally Posted by JayCT

I know we are all concerned with our state's budget woes but honestly another state appears to have an even bigger problem on their hand. North Dakota, that state that seemed invincible to economic issues over the last decade or so, is anticipating a $1 billion shortfall over the next two years due to declining revenue from the dramatic drop in oil prices.

That will certainly slow down emigration from CT to ND.

[hartford_renter]

Originally Posted by JayCT

I know we are all concerned with our state's budget woes but honestly another state appears to have an even bigger problem on their hand. North Dakota, that state that seemed invincible to economic issues over the last decade or so, is anticipating a $1 billion shortfall over the next two years due to declining revenue from the dramatic drop in oil prices. While this seems in line with some of our state's numbers you must remember that North Dakota has a population 1/5th the size of ours (about 740,000 residents)and outside the oil industry, it is mostly a state of farmers of very modest means. Will see how they handle it. Jay

North Dakota's oil bust blows $1 billion hole in state budget - Feb. 2, 2016

Jay but the governor of North Dakota is a Republican. They will handle budget deficits like every other Republican official, faced with a shortfall of 1 Billion they will cut 1 Billion in spending.

This isn't rocket science

[mlassoff]

Originally Posted by hartford_renter

Jay but the governor of North Dakota is a Republican. They will handle budget deficits like every other Republican official, faced with a shortfall of 1 Billion they will cut 1 Billion in spending.

This isn't rocket science

You've got be kidding? He's a Republican so you completely excuse the deficit?

That's beyond hilarious and transparent. It's ok if OUR guy did it...

I'll be viewing your future posts through this lens.

[BPt111]

HARTFORD, Conn. (WTNH) — Facing another half-billion dollars in red ink next year, and billions more in the following years, Gov. Malloy delivers his ‘State of the State’ address on Wednesday, pledging tough spending cuts and no tax hikes. The Governor says the state’s economic reality has changed and on spending there is no where to go but down.

The Governor is proposing over half a billion dollars in spending cuts including cuts to cities and towns, services and state employees. He also wants his commissioners to be given the authority to make those cuts taking it away from the legislature.

DAVIS; “What are you going to do if the Aetna follows GE out of the state?”
MALLOY; “I can’t imagine a Connecticut that doesn’t continue to have Aetna in it. I certainly hope that that’s not the case but they are acquiring a company that has a lot of employees in the government insurance end of it that are already based in another place.”

But now Aetna, which is merging with Kentucky based Humana, is making a big commitment to Louisville and not saying much about Hartford.


Malloy; “I can’t imagine a Connecticut that doesn’t have Aetna” | WTNH Connecticut News

[BicoastalAnn]

Originally Posted by BPt111

HARTFORD, Conn. (WTNH) — Facing another half-billion dollars in red ink next year, and billions more in the following years, Gov. Malloy delivers his ‘State of the State’ address on Wednesday, pledging tough spending cuts and no tax hikes. The Governor says the state’s economic reality has changed and on spending there is no where to go but down.

The Governor is proposing over half a billion dollars in spending cuts including cuts to cities and towns, services and state employees. He also wants his commissioners to be given the authority to make those cuts taking it away from the legislature.

DAVIS; “What are you going to do if the Aetna follows GE out of the state?”
MALLOY; “I can’t imagine a Connecticut that doesn’t continue to have Aetna in it. I certainly hope that that’s not the case but they are acquiring a company that has a lot of employees in the government insurance end of it that are already based in another place.”

But now Aetna, which is merging with Kentucky based Humana, is making a big commitment to Louisville and not saying much about Hartford.


Malloy; “I can’t imagine a Connecticut that doesn’t have Aetna” | WTNH Connecticut News

I don't get where this "big commitment" comes from... they said they'd have one part of their business based in Louisville and they also said they'd keep the HQ in Hartford.

[nep321]

Not sure if anyone brought this up, but I just discovered that CT now has a unitary tax filing requirement for multi-state businesses, beginning for 2016. This typically results in a higher tax burden for companies. I think it will be helpful in raising tax revenues for the state of CT.

Connecticut Enacts Sweeping Tax Reform Including Mandatory Unitary Reporting Requirement - Tax - United States

[BPt111]

State budget cuts could mean higher property taxes | WTNH Connecticut News

[Mr_250]

Does anyone read the CT WARN Notices? If not, it is an interesting read. Employers are obligated to give notice to the state of CT if they plan to layoff x number of people.

In the past 2 weeks there have been WARN for two plants closures totaling over 300 laid off. These are major plants. One is a paper mill and the other is a high tech manufacture. Both are closing and moving to other parts of the country.

It just sucks to be losing jobs. I have real hope for CT and want it to succeed but lately we have been losing out to to our neighbors.

[ctguy87]

Originally Posted by JayCT

I know we are all concerned with our state's budget woes but honestly another state appears to have an even bigger problem on their hand. North Dakota, that state that seemed invincible to economic issues over the last decade or so, is anticipating a $1 billion shortfall over the next two years due to declining revenue from the dramatic drop in oil prices. While this seems in line with some of our state's numbers you must remember that North Dakota has a population 1/5th the size of ours (about 740,000 residents)and outside the oil industry, it is mostly a state of farmers of very modest means. Will see how they handle it. Jay

North Dakota's oil bust blows $1 billion hole in state budget - Feb. 2, 2016

It's one of those boom or bust states that you always mention. Live by oil, die by oil. What's the excuse for CT, a mature state better prepared to weather to boom and bust cycles? (Paraphrasing your words)

Malloy may not be raising taxes, but by cutting aid to towns, and capping vehicle taxes, TOWN taxes will be increasing. Malloy isn't dumb - this takes the heat off him during an election year for the legislature. 2017 will see statewide tax increases, whether it's gas tax, income tax, tolls, sales tax, or whatever else they can create.