THE SINKING OF CONNECTICUT – SUFFERS CRITICAL DAMAGE FROM DEMOCRAT ICEBERG

 

CONNECTICUT’S BUDGET DEFICITS

 

JUST GOT BIGGER

 

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 April 30, 2016

 

From Susan Kniep, President

The Federation of Connecticut Taxpayer Organizations, Inc. 

Website: http://ctact.org/
Email: 
fctopresident@aol.com

Telephone: 860-841-8032

 

BREAKING NEWS

 

A few minute before midnight, Christine Stuart of CTNewsJunkie.com reported

 

Malloy To Reporters: Budget Negotiations ‘Are Hitting A Wall’

 

The following is an excerpt.   Democratic legislative leaders just came up with a budget proposal on Thursday that addressed a $920 million budget deficit. “That deficit grew an additional $40 million on Friday after revenue figures were released following April tax collections.   Malloy said his team agreed to stay at the negotiating table until noon Saturday to reach a settlement “but it’s clear for me that that’s not going to happen.” He said Democratic legislative leaders are treating this like a revenue issue when it’s “a revenue issue and a spending issue.”

 

At 8:10 PM, Christine Stuart had reported that  

 

Revenues Fall Short Leaving 2016 and 2017 Budgets In The Red

 

 

Noting that – April tax revenues did not come in as anticipated Friday, which means this year’s deficit will grow to about $256 million and the 2017 budget is $960 million in the red.

Office of Policy and Management Secretary Ben Barnes said most of the revenue shortfall the state is experiencing is related to declining income tax collections. Read more at Revenues Fall Short Leaving 2016 and 2017 Budgets In The Red »

 

CONNECTICUT STATE LEGISLATORS

WILL GET THEIR REPORT CARDS ON 

ELECTION DAY – NOVEMBER 8, 2016

 Will Your Legislator, Pass or Fail!!!!

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 Let’s take a look at what has transpired on the Hill in Hartford  within the past few days.

  STUDENT AID FOR UNDOCUMENTED ILLEGAL RESIDENTS

 The recent vote by State Senate Democrats will have a chilling impact on some legally registered Connecticut students who will be denied access to the taxpayer funded $40 million dollar financial aid pool.   Their denial will be usurped by undocumented immigrants who will now be allowed access to the pool. 

 

Act SB-147 entitled AN ACT ASSISTING STUDENTS WITHOUT LEGAL IMMIGRATION STATUS WITH THE COST OF COLLEGE was assessed by the Office of Fiscal Analysis which wrote “The bill results in no fiscal impact to the constituent units of higher education as it does not alter the total amount provided for institutional aid. “The bill does result in a potential redistribution of such aid to recipients”. Their opinion can be accessed at analysts report.

 

It is interesting to note that Republican Senator Art Linares from Westbrook, CT’s Senate’s only Hispanic would have voted ‘no’ on aid to undocumented students as reported by CTMirror.org as “opening the financial aid pool would crowd out legal residents”.  Linares further stated “I am very concerned about our current financial situation,” when addressing the near $1 billion state deficit in the upcoming fiscal year. “We have to solve those problems first before we take on additional burdens that would create additional stress on other residents.” 

 

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 STATE RUN RETIREMENT PLAN FOR PRIVATE SECTOR

 In Oct, 2015, the Wall Street Journal wrote WSJ: Wealthy Connecticut’s Pension Problem Is a ‘Ticking …Time Bomb noting “Connecticut has roughly half of what it needs to pay future retirement benefits for its workers, with one lawmaker calling the situation a “ticking time bomb.”

 Yet, the State’s failure to manage the State employee pension plan has not deterred our State legislators as Connecticut House Sends Bill to Senate Setting Up a State-Run Retirement Plan for Private-Sector Workers(Christine Stuart / CT News Junkie)

 

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PROPOSED MINIMUM WAGE INCREASE

 On April 28, 2016, Democrat Senate President Pro Tem Martin Looney proposed increasing the state’s hourly minimum wage to $12 by Jan. 1, 2020 which was denounced by Senate Republicans as described within CTMirror.org article captioned Connecticut Senate debates, for a while, a $12 minimum wage

 Here is what others are saying on this issue. 

 Former CEO of McDonald’s: $15 Minimum Wage Will Cost Jobs
Jon Miltimore is the Senior Editor of Intellectual Takeout, Follow him on Facebook and Twitter.  | April 25, 2016


Ed Rensi, the former president of McDonald’s USA, wrote an article that appeared in Forbes in which he argued that raising the minimum wage to $15 an hour could cost about a million jobs in limited service restaurants.

Rensi, who worked at McDonald’s for three decades before he became Chief Executive Officer, made three key points: 1) A $15 minimum wage would eat up 75 percent of the profit for a typical McDonald’s franchise owner; 2) Franchise owners would be compelled to shift to automated kiosks to protect their bottom line; 3) the job losses would primarily impact young workers.

  UC Berkeley last week offered a real-life case study on this very topic.  Continue reading at ….. http://www.intellectualtakeout.org/blog/former-ceo-mcdonalds-15-minimum-wage-will-cost-jobs

 

And in an Editorial by Investors Business Daily

UC Berkeley Touts $15 Wage Law, Then Fires Hundreds … Of Workers After It Passes

 Labor Markets: Hundreds of employees at the University of California at Berkeley are getting schooled in basic economics, as the $15 minimum wage just cost them their jobs. Too bad liberal elites “fighting for $15” don’t get it.

 

A week after California Gov. Jerry Brown signed the state’s $15 minimum wage boost into law, UC Berkeley ChancellorNicholas Dirks sent a memo to employees announcing that 500 jobs were getting cut.

 Coincidence? Not really.  Continue reading at ….. http://www.investors.com/politics/editorials/uc-berkeley-touts-15-minimum-wage-then-fires-hundreds-of-workers-after-it-passes/

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 In February, 2016, the Yankee Institute lent insight into the problems which had beset the Connecticut’s Department of Motor Vehicles through their article captioned Promoted Former Commissioners Avoid Blame for DMV …Debacle

 

 

This has been a tumultuous year for Connecticut taxpayers.  Governor Malloy and our State Legislature have been on a spending spree with taxpayer dollars yet it appears that only now they have come to the realization that the state is broke.  Worse than that – the State’s high debt and deficits have rating agencies questioning the financial stability of our state as Most Wall Street agencies have ‘negative outlook’ on CT … as noted by CTMirror.org.

  In an article captioned The 10 Worst “Sinkhole States” in America | Wolf Street written in March, 2015 it is noted that “The taxpayer burdens in Connecticut and Illinois weigh over twice as much on each of their respective taxpayers as the burden in California”.

 

THERE IS ONLY ONE SOLUTION TO SOLVING THE STATE DEBT OF 6.6 BILLION DLRS AND DEFICITS OF 71 BILLION
END BINDING ARBITRATION AND COLLECTIVE BARGAINING LAWS
View the Many Reports – We Have Provided to You – March 2016

TRUMP TOWERS OVER CONNECTICUT

Donald Trump filled the Connecticut Convention Center venue last night. Another one of Trump’s big time rallies which had brought out thousands of new supporters. Commenting, as usual he commented about media bias, but his story line changed a bit. He went off on Governor Dan Malloy, govmalloywhose policies and those of his fellow Democrats, chased one manufacturing company after another out of the state.

In fact a few days ago, it was reported that Connecticut is dead last in states that appeal to new businesses. Trump also lambasted the media for not telling the truth; he mentioned that they never pan the audience in fear of exciting backlash from their liberal purveyors, most notably the progressive zealots.

trumpbillboard3With Connecticut’s primary looming on April 26, Trump leads with 50 percent of the vote in the only presidential primary poll of state voters, meaning he likely will likely walk away with all 25 delegates.

GREATEST DEFAULTS TO COME – REVOLUTION BREWING

Union thugs are manning their posts, ready at an instant to levy ISIS type destruction on their enemies; innocents will also suffer. From Chicago to Hartford to cities in between, budgets are being busted at a rapid pace. States suffering from largess include Illinois and Connecticut; sooner or later they will face the unthinkable! The “B” word. Vengeful state unions are arming their members with vitriol diatribe. When layoffs occur to the union legions violence is a given.

Pensions and benefits layered on year after year are now so heavy that many states and cities cannot afford the old paradigm of tax and spend. Taxes are driving more of the productive to greener pastures thereby exacerbating the problem. Florida, Texas, South Carolina are reaping the benefits. Just yesterday it was noted that 10,000 millionaires left France for greener (means no tax) havens. Many have seen this smoldering fire burning for a while, but have ignored it; rating agencies are now lowering bond ratings of socialist city/states because of lower revenue expectations. There is only one way out of this mess, if not taken, we are looking at state and city wastelands, akin to the favelas of Brazil.At times Rio de Janeiro has utilized troops to temporarily occupy favelas such as seen here in the Complexo do Alemão during the 2008 municipal elections. This is the exception rather than the rule however, particularly with the establishment of permanent community police forces (the UPPs).

Click here for the Deadly Summer awaiting Chicago. It ain’t gonna be pretty folks. “I saw a man stabbing his wife in Chicago, its my home town.” Most of those growing up want to be “killers.” Passed down from father to son. 

Never think that this can’t happen here; we are not an island until itself. Lying politicians using deceptive words have sucked the life blood out of cities and states with abandon; not to mention the 100 trillion dollar debt of Uncle Sam. The bottom line here, if there is one, be prepared for mass exoduses from Blue States to Red States – with Blue State implosions the military will be called in to quell the violence. Rabid dog populace will no doubt be on the lookout for red meat snatching and burning anything left in their path. The United States can print all the dollars they want, but will the rest of the world accept them? Socialist evil dwellers such as Chavez and heir Maduro promised more than they can deliver. The flames of revolution are brewing higher by the day, citizens looking for politicians blood because they have gone back on their word or stepped on too many when vaulting to the top spot.

WELFARE STATE

Tuesday’s election was best characterized as a Republican tsunami, destroying most Democrats in its wake. Some were able to dodge the white caps, but overall Republican governors were elected in major upsets emerging under conservative mandates. However, there were states where Democrats dodged the proverbial bullet; for instance Connecticut. Known as the Constitution State, but for many citizens, the new state moniker is the “Welfare State.”govmalloy

Connecticut, once the envy of all, where high salaries, booming industry and good quality of life was predominant; no more, voters handed the Democrat Governor a ticket to govern for four more years.  Even Illinois, Obama’s home state saw the light – they handed the reins to a Republican. Connecticut and Illinois are similar to the effect that both are dead broke. Expect the Blue states to drink more of the cool aide, but the hand writing is on the wall; they will see the error of their ways, but not admit that Keynesian economics was a more of a mirage than reality. Dead broke is not a good thing.

??????????????????????????????? Tom Foley has ended his political career, defeated twice by Govenor Malloy.

From Charles Krauthammer in discussing the Obama drubbing.

The race I liked the most was the one in Maryland, where I live, where the Lt. Governor Anthony Brown was considered such a shoe-in, no one spoke about the Maryland race. No one. You didn’t hear a word, and the Republican, Larry Hogan, came out of nowhere. He won by 8 points. This tells you — the reason I like it, it shows the extent of this political event into the bluest of the blue, Maryland. It wasn’t a tea leaf election. It was a nuclear explosion.