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Showing posts with the label Truth in Accountng

Malloy’s Budget, Same Old, Same Old

If it were possible for Governor Dannel Malloy to transfer Connecticut’s debt backward to previous administrations, he would do so a New York minute. This being impossible, he has shifted blame for the state’s current indebtedness to preceding governors, absolving from adverse criticism, for some odd reason, former Governor Lowell Weicker, whom he rarely mentions as being a governor who had run up future debt by increasing taxes and spending. Perhaps that is because Malloy himself has adopted Weicker’s strategy in attacking debt – raise taxes. Twice since he had been elected the first Democratic governor in twenty six years, Malloy has raised taxes, imposing on the state both the largest and the second largest tax increases in state history. The last Connecticut pre-income tax budget was about $7.5 billion; the current Malloy budget is nearly three times as large, every single penny of it having been appropriate from Connecticut’s real working party, middle class people mostly...