Connecticut: Its The Debt, Stupid

Over the past twenty years, I have been writing to tell readers again and again about the wretched state of Connecticut finances, and the incredible amount of debt heaped upon poor and innocent taxpayers by arrogant, ignorant, and uncaring politicians. I have also written time and time again about the stranglehold of the omnipotent and incompetent Connecticut Democrat Party, in addition to some of the weak-minded Connecticut Republicans that have made that party's job that much easier. Many times, I felt discouraged that I was not getting through. But when I finished and published last week’s article on the sickening and redundant $9,700,000,000 bipartisan approved bonding for largely special-interest and vanity projects, something happened. Multiple thousands pf people read the article over several platforms. My good friend and colleague made this a point of his February 17 Lee Elci Show segment. TONY DE ANGELO LEE ELCI- LEE ELCI SHOW 2 17 2026

 And all of this led to one point of critical mass. The Connecticut taxpayer is mad as hell at politicians and pontificators that have created a fiscal mess that will take years to shovel out of. State taxpayers, livid at the increasing amount of costs they face every day, are finally (and fully) lambasting politicians for the morass they have created for decades.

However, the only group of people not reading that memorandum and acting upon it are those very same arrogant and stiff-necked politicians that created the mess in the first place. Unfortunately the elementary concepts of (what is) the present value of a dollar, the time value of money and the opportunity cost of deficit spending are lost on almost the entire state government, who see fiscal management as throwing a sack of cash at their district and begging reelection. Nothing else matters to them, nor do they really care about the generational burdens they are heaping upon citizens. For reelection is Job No. 1. In turn, you, do not matter in the least.

As this selective arrogance and ignorance grow from elected officials, Connecticut's state government debt grows year in and year out. It has been like this since 1991. A recent Reason Foundation analysis of October 23, 2025, studied and reported on Connecticut's massive debt problem. Their report confirms what I have been stating for several years that the state has $100 to $150 billion dollars in short- and long-term debt along with unfunded liabilities. The following figures are taken from this report: (https://reason.org/transparency-project/gov-finance-2025/state/)

Total State Debt: Connecticut #7    $94.43 billion "On a per capita basis, Connecticut had the highest state debt, with $26,187 of debt per state resident at the end of 2023."  

State Government debt per capita Connecticut #1 $26,187

State Government long term debt Connecticut #7 $86.3 billion

 State Government long term debt per capita Connecticut #1 $23,934

 State Government net pension debt Connecticut #6 $40.36 billion "On a per capita basis, Illinois again had the most pension debt, with $11,355 per resident. Connecticut was (2) close behind with $11,192 per capita pension debt."

 State government other-post employment benefit debt Connecticut #7 $16.9 billion "The rest of the states with the most OPEB debt per capita at the end of 2023 were Connecticut ($4,687) ..."

State government other-post employment benefit debt per capita Connecticut #3 $4,687

Total of every state government's outstanding bonds, loans, and notes Connecticut #6 $29.17 billion "In per capita terms, the state governments of Hawaii and Connecticut rank first and second, respectively, with outstanding bonds of over $8,000 per resident."

Per capita amount of every state government's outstanding bonds, loans, and notes Connecticut #2, $8,090

If one examines the limited data one can find for Fiscal years 2024 and 2025, one will see the same excessive debt and borrowing for Connecticut. Connecticut continues to lead the nation in debt. This newer information is difficult to find as the Democrat Administration of Governor Ned Lamont does not believe in transparency whatsoever and would much rather hide these figures from the diligent Connecticut Taxpayers who are enslaved to Connecticut's drug infused spending and debt addictions.  How a state as small as Connecticut has this much debt and spends this amount yearly is incomprehensible, especially in this election year. Realistically, Connecticut politicians could give a damn about how much money they spend and how much debt the state has since it will not be their problem. The protected political elite of Connecticut, along with its cronies, sycophants, toadies, and lackeys will make sure they become vested in a perpetual state Taxpayer funded pension with unlimited lifetime benefits, in addition to lifetime health care, all paid at your expense. Why should these elitists and state-connected people settle for Medicare as the rest of working population must, when their damaging, fiscally inept policies that have driven the state to the brink of bankruptcy, entitles them to a superior lifetime health care plan for themselves and their families? “To the victors go the spoils!"  is the essence of the ruling Connecticut political elite. Connecticut is in essence broke and has been broke for years. And about every person wearing a political uniform does not give a damn about that, if they even understand the damage they are creating.

But again, who cares? 

The new Connecticut state budget, spending over $28 billion dollars for the year, follows the same yearly script. As we have been told for decades, more spending will solve all the state's problems such as food insecurity (as in the yearly salary of non-profit Connecticut Foodshare's President and CEO's Jason Jakubowski at near $400,000), homeless issues, illegal drug deaths and addictions, a crumbling transportation infrastructure,  widespread worker’s compensation fraud, excessively high taxes, a failing public education system where students cannot read nor write, voting fraud in Bridgeport and other locations, fraud and lost funds in the Connecticut Department of Economic and Community Development as more millions are heaped upon it,  and two incoherent, screaming United States Senators who are an insult to the voters of Connecticut.  And as the debt keeps growing, the same rhetoric is spewed with the same failed debt results. That is the reality of Connecticut's poor economy and horrific economic policies and programs.

The Republican candidates for Governor could easily win the upcoming election and all state offices by campaigning on the debt issue, expense reduction, and full transparency. If only they would challenge the failed economic policies of the Lamont Administration every step of the way and the financial enrichment that the Lamont family has nurtured through their hedge fund and their deceptive investments, victory and permanent change would be assured. Again after many years, we still do not have any answers to Ned Lamont's family hedge fund (Oak HC/FT Partners), investments in Rapyd, a global Fintech-as-a-service provider, and Unqork, both having documented common-investment ties to "Infosys", that same Infosys that received Connecticut taxpayers monies. We have no disclosures as to what happened in the Lamont-Infosys trip to India in February of 2025 completed under that secret cloak of that same-secret ADVANCE CT. Nor are any answers forthcoming from associated companies relating to the Covid-19 crisis that include "Thermo Fisher Scientific", "Sema 4", " Core Infomatics", “Centrellis”. "Ocrulus", "Urjanet", "1life Healthcare", "Galileo Health", "Castlight Health", "Paladina Health", and "VillageMD" to name several. Nor are there ever any answers to the questions concerning the Lamont-related Cayman Island partnerships, large Cayman Islands deals such as the "Horsebarn Hill Investment Fund" hiding in the UCONN Foundation,  and other funny-money deals working through “quasi-public” organizations such as the now-clearly Lamont-connected (and covert) “Connecticut Innovations”.  Again, your standard-issue Connecticut legislator never asks those questions, as getting re-elected, throwing cash, smiling in pictures, and signing on to inane and sometimes perverted causes take on a much higher priority.

Connecticut's debt and deception by the Lamont Administration continues to choke the state's economy. But again, who really cares except for Connecticut's Taxpayers who will never be heard and several non-paid citizen journalists who are condemned and vilified by the socialists who desperately glorify their own failures in society by pushing their perversions as policy parameters. 

Dear Candidates: The game, is over here: The lights need to come on. For once. For you. You need to grasp these concepts and actually, think. Connecticut and its debt are the real and true campaign issues in 2026. 

Too bad no one is listening.