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.