Connecticut’s Fiscal Mess - Jillian Kay Melchior - National Review Online

As Congress considers massive tax hikes to fix the U.S. deficit, the state of Connecticut is worth a look. There, a similar strategy is failing epically. Governor Dannel Malloy’s budget chief told the state legislature on Wednesday that Connecticut was facing a $365 million deficit for this fiscal year. That’s nearly twice as big as the $205 million estimate released last week by the Office of Fiscal Analysis and the Office of Policy and Management. And it’s more than six times what Governor Malloy, a Democrat, had estimated before the election. If you think that discrepancy is suspicious, you’re not alone. And consider this: Democrats, who hold the majority in both houses of the state legislature, voted to postpone the release of the fall consensus revenue forecasts, which revealed Connecticut’s rather ugly fiscal picture, until after November 6. Connecticut’s Fiscal Mess - Jillian Kay Melchior - National Review Online