Saturday, December 03, 2016

Connecticut's Never Ending Fiscal Crisis. Connecticut's Bloated Pensions.

It is funny that Connecticut's fiscal crisis never ends.  It continues unabated day in day out, year in and year out.  New and higher taxes for many years now has not solved the state's continuous budget deficit.  State spending continues to keep going up.  More and more fiscal line items magically drop off the state budget and become off budget items. Excessively high salaries, benefits and pensions are embraced and never cut back.
Thus you have short and long term debt along with unfunded liabilities that have put Connecticut's debt at $60 to $80 Billion dollars.  With no plan whatsoever to pay this off.  Each Connecticut taxpayer owes over $13,250 on this debt.  What is the plan to pay this off or cut spending?
Connecticut's out-of-control spending was casually mentioned in this past election.  In a political miracle the State Senate is now evenly split between the Omnipotent Tax and Spend Democrats and the Republicans 18 to 18 with Democrat Lieutenant Governor Wyman casting the politically expedient tie braking vote.  The Democrats continue to lose seats in the State House and hold a small majority at this time.
Connecticut has one of the most bloated pension systems in the country that is horrifically underfunded.  Most Connecticut Taxpayers can only dream of getting a lifetime of a $100,000 plus a year pension along with virtually free medical benefits that they see many former state employees get.  These same Connecticut Taxpayers must be satisfied with their meager Social Security benefits that they have paid for all their lives.  They can not work for three years as a Judge and then be eligible for a lifetime state taxpayer funded pension.  They can not add their mileage expense to increase their lifetime state taxpayer funded pension.  They can not add their unused sick time (what is that anyways?) to their lifetime state taxpayer funded pension.  They can not be like Connecticut Senator Blumenthal and his lifetime state taxpayer funded pension of over $50,000 a year due to his reign of economic terror as State Attorney General.  Blumenthal by the way is worth over $105 Million dollars.  Does he still really need that lifetime state taxpayer funded pension and could he go without it and help the state in its time of fiscal need?   Of course he will get every penny out of state taxpayers that he feels he so richly deserves.
It is a sickening excess that Connecticut Taxpayers must pay for year in and year out.
Connecticut Taxpayers have had enough.
Connecticut continues to be a vast economic wasteland whose elected officials only concern is their financial gain.  It is proven time and time again.
Reform Connecticut's bloated public pension system today.  Find real budget cuts that cut the waste and bloated nature of Connecticut's government.

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