Oops! We're Out Of Money!

No big deal we are out of money.  Oops!  You may think I am talking about the $17 Trillion dollar National Debt or possibly Connecticut's future 2014-15 budget deficit of $3 to $4 Billion dollars or even Connecticut's long term $80 Billion dollar debt.
No I am talking about Connecticut Innovations.  Surprised? They have run out of money for this year.
Connecticut Innovations uses taxpayers monies/state bonding to help develop companies with their new products and jobs.  According to their website they have created 26,000 new jobs since their start(I am unsure of the year either 1989 or 1995).  In my economic opinion that is not a great deal of jobs in a 20 year plus period.
I have read and reread their Financial statements for the period ending June 30, 2013.  This is public information on their website also http://www.ctinnovations.com/pdf/CI_Audited_Financials_June-30-2013.pdf   In trying to understand this agency, they had an operating loss of ($17,892,744)  for that fiscal year with operating expenses of $54,517,117 of which $9,237,449 was salaries and benefits for apparently approximately 70 employees and contractors. This is an average of $131,964 per employee and or contractor. They received from the State of Connecticut taxpayers $21,670,000 for that fiscal year also.
To me that is astounding as a taxpayer.  I can only imagine what their fiscal report will read for Fiscal 2013-14.
It is also important to understand that Jackson Laboratories relocation to Connecticut is being handled through this agency.  Remember Jackson Laboratories must create 300 jobs to have a $25 Million dollar loan forgiven by state taxpayers.  That is $83,334 per job paid for by state taxpayers.
However they are now out of money.  They will be asking the State Bonding Commission for $50 Million dollars in new funding at their next state meeting.
No big deal we are out of money.  Oops!
Just more of the same here in Connecticut, state taxpayers footing the bill for the grand illusion of a large, encroaching, and omnipotent quasi-state agency.  Numbers do not lie-they certainly do not in this example of this agency.
No big deal we are out of money, come on Connecticut taxpayers dig deeper today to give them more and more ad infinitum (to infinity).

The Economic Incoherency Of Connecticut

I do not want to use the word stupid.  But in my economic opinion we have an incoherent irrational economic plan and policy in Connecticut in 2014.  And we have had this plan and policy for years now especially since 2011 when we had the largest tax increase in the state’s history and now have a looming (pick a number) $3 to $4 billion dollar deficit upcoming.

 And we have to blame the economic stupidity of the Malloy Administration and Hartford’s Omnipotent One Party Rule for it.  It makes no sense economically to continue what we are doing.

Does it make sense economically to pay a firm using taxpayer’s monies to move from one town in the state to another?

Does it make sense economically to have the highest tax increase in the state’s history only to now have another $3 to $4 billion dollar budget deficit?

Does it make sense to give economic development taxpayer’s monies to only those who are politically connected and then see them disappear with the money?  And never to be heard from and read about it in the news?   For example Hybrid Insurance.

We have no economic plan other than to feed taxpayer’s monies to those who are politically connected in our state.  Winner and losers are chosen by the Malloy Administration and Hartford’s Omnipotent One Party Rule.  And the time has come for it to end.

We need to end the economic stupidity which taxpayers must pay for.  We need for taxpayers to stop being the economic doormat for the politically connected in Hartford.  Economic stupidity.  What we have in Connecticut in 2014 under the Malloy Administration and Hartford’s Omnipotent One Party Rule.

Tom Foley is running for Governor and will provide actual economic leadership for the state-how about a change this November?

Frank Apuzzo For State Representative In Wallingford's 85th District

Frank Apuzzo is running for State Representative in the 85^th District that is in Wallingford.  He is running against one of the most entrenched Representatives of Hartford’s Omnipotent One Party Rule –Incumbent Mary Mushinsky.  She has been in office since 1981 voting for every major piece of increased tax legislation that has come into the legislature since that time.  In my opinion she continues to be out-of-touch with the economic reality of Connecticut in 2014 and has been in office way too long.

Mr. Apuzzo is offering a breath of fresh air for voters here in Wallingford.  He has served our country in the Air Force for four years and a subsequent two years in the Air Force reserves. 

He is a product of the Wallingford School System graduating from Sheehan High School in 1993.  He has a great deal of business experience in several different industries.  He is a family man married with two beautiful children.

Mr. Apuzzo sees our state in a much different light than the entrenched Representative of Hartford’s Omnipotent One Party Rule –Incumbent Mary Mushinsky.  He sees businesses continuing to struggle, families crumbling under the oppressive tax burdens of our state and retirees fleeing their state since they can no longer afford to live here when they retire. Entrenched Representative –Incumbent Mary Mushinsky sees an economic utopia where more and higher taxes along with more social governmental dependency programs are the only answer for our economically desolate state.

Mr. Apuzzo to me has great economic leadership abilities to move our state out of the self-induced economic quagmire that Hartford’s Omnipotent One Party Rule and the Malloy Administration drowned its residents and taxpayers in for years now.  He will fight for real tax reform and lower taxes for the taxpayers of Connecticut.  He wants local control of our educational system.  And most critically he understands that businesses not state government create jobs.

Are you better off than you were four years ago under Hartford’s Omnipotent One Party Rule and the Malloy Administration and in particular Incumbent Mary Mushinsky?  I will say emphatically no-we are not better off in the current economic wasteland of Connecticut-it is time for a serious change.  Wallingford voters have a true choice this election-Frank Apuzzo for State Representative in the 85^th District.

Maybe Dan Malloy Destroys Jobs? How high is Connecticut's unemployment rate?

How high is Connecticut's unemployment rate?  What is the true rate of unemployment when we no longer count those individuals who are still out-of-work and are no longer collecting unemployment benefits in this percentage?   Wouldn't the Malloy true unemployment rate be much higher than what we are lead to believe?  13%?  20%?  Pick a number any number?
We are led to somehow believe that Tom Foley destroys jobs since he tried unsuccessfully to turn around a textile company in Georgia back in the 1990's and therefore is not fit to become Governor of Connecticut.  Because of something that had happened back in the 1990's-twenty years ago.   This makes sense?
Thus I ask my original question-How high is Connecticut's unemployment rate?
And maybe we could argue effectively that the Malloy Administration and Hartford's Omnipotent One Party Rule are the true economic cancer in the state.
Maybe we could argue the high taxation, anti-business economic climate of choosing economic winners and losers using taxpayers monies has destroyed jobs.
Maybe since Connecticut ranks near last in many different economic categories this has destroyed jobs?
Maybe we could argue that the convoluted policies of the State Economic Development Commission which is using taxpayer's monies to pay to move companies from one to town to another in the state has destroyed jobs?
Maybe we could argue that the past four years of the Malloy Administration and Hartford's Omnipotent One Party Rule has destroyed jobs?
Yes maybe we should look at the true failed economic policies of the Malloy Administration and Hartford's Omnipotent One Party Rule as being the real job destroyers in Connecticut not Tom Foley.
The economic fantasies and failed policies of the Malloy Administration and Hartford's Omnipotent One Party Rule have helped to ruin Connecticut's economy and led to a massive unemployment rate.
That is the economic truth in this election-the job destroyers run the state not Tom Foley.