Connecticut, with one of the highest per capita incomes, is suffering from too much debt. Alabama has its tax revenue problems, even a bit of debt. But, these states controlled by Democrats for decades are exemplars of what not to do. They let this slide for over 74 years, now the bill is presented. Connecticut -- the next Puerto Rico. Puerto Rico -- the next Venezuela. Democrats -- a zombie parasite disease that leaves behind a semblance of live, while destroying a civilization.
"Connecticut stands on the cusp of an unprecedented fiscal crisis. The budget that Gov. Dannel P. Malloy will present to the legislature Feb. 8, in an attempt to close $3 billion in deficits over the next two years, is only a portent of a far greater, long-term challenge facing the state.
Simply, the bill is coming due in ever-increasing amounts for the 80-year failure of one of the richest states in the nation to adequately save for retirement benefits promised to teachers and state employees.
Hobbled by debts accumulated by generations of governors and legislators, Connecticut for at least 15 years to come is likely to face a bleak and politically dangerous menu of options that could shape the state's economy and quality of life.
Hobbled by debts accumulated by generations of governors and legislators, Connecticut for at least 15 years to come is likely to face a bleak and politically dangerous menu of options that could shape the state's economy and quality of life."
More at: https://ctmirror.org/2017/01/3...ts-own-fiscal-cliff/
The state is so unstable as to what companies may expect, they are leaving. GE left for Boston. Aetna insurance is relocating its HQ, either to Boston or NYC. When companies consider either NY state or Massachusetts to be more fiscally stable than another state, you know there is real trouble and its not in River City.
"The confirmation is the first public acknowledgement from Aetna that it is looking to relocate its home office following more than a year of speculation. In recent weeks, sources have told the Business Journal that Boston and New York are locked in competition to land a headquarters or substantial office presence. Indeed, this week, a former state senator who writes a Connecticut-focused political blog wrote that New York is far ahead of Boston in the competition for Hartford-based Aetna's new headquarters.
We are in negotiations with several states regarding a headquarters relocation, with the goal of broadening our access to innovation and the talent that will fill knowledge economy-type positions, Aetna said in a statement on Wednesday. We remain committed to our Connecticut-based employees and the Hartford campus, and hope to have a final resolution by early summer.
Aetna has been based in Hartford, Connecticut since its founding in 1853 and has a market capitalization of $48.05 billion. The company occupies a 1.7 million-square-foot campus at 151 Farmington Ave. If Aetna relocates, it would follow on the heels of multinational conglomerate General Electric Co. (NYSE: GE) relocating its headquarters to Boston from Fairfield, Connecticut last August."
http://www.bizjournals.com/lou...-hq-out-of-conn.html