The Malloy Recession. It is coming July 1. It is due to economic illiteracy of the highest level and a one party dictatorship. It is due to a smoke screen of economic magic. Supposed savings here, supposed savings there, supposed savings everywhere. Where are the actual savings? Does the state actually show spending cuts in a $20 billion dollar budget that increases spending by 3 to 5% in its first year? Does the state actually make it more business friendly by increasing corporate taxes to some of the highest levels in the country? That is what is considered as a business incentive-high taxes? Does shared sacrifice mean that only taxpayers pay more rather than any meaningful cuts in wages, benefits or pensions for state union workers? How does $21 billion dollars in supposed savings take place over 20 years in an union agreement which still does not address the economic reality of excessive wages, benefits and pensions? And while a state worker uses the emergency room a mere 150 times for what? And where were the cuts in wages, benefits and pensions for state management workers? Where is there shared sacrifice?
The Malloy Recession. It is coming July 1-brace yourselves, economically you will have never seen anything like it before in your lifetimes.