CtTaxed.com

Gross Fiscal Mis-Management

It is becoming clearer and clearer as I study this issue that this state has suffered from gross fiscal mis-management. This is the evidence.

1) #1 in Tax Burden.

2) #3 in Debt per capita

3) #48 in Funding Teacher’s Retirement (we owe 12 Billion)

4) 2nd Highest Electric Rates in the Country, only Hawaii is higher. 3X higher than Idaho.

But hold on, the full rate increase has not kicked in yet. We may yet claim this dubious title.

5) Very high gas tax, 25%. 7th highest.

Now all the projections show a surplus this year but very large “significant deficits” (Office of Policy and Management). 22 $million in 2008, 79 $million in 2009 and 145 $million in 2010.

Unless spending is cut drastically taxes will have to be raised. We can’t go in to more debt we are already burdened with some of the highest debt levels in the country. And cash flow will be used more and more for the unfunded liabilities, such as Teacher’s Retirement.

But I am not hearing anything about cutting spending. All I hear or read is more massive new programs coming out of the State Capital. Health Care and UniversalPre-School are among the biggest, yet we can’t pay for what we got now.

Now if this is not gross mis-management then what is?

The issues are not being addressed.

In two years time you will hear a lament out of the Capital that we can’t meet our obligations (old, current and the new ones they are going to pass this year) and taxes must be raised.

Taxes must not be raised, they must be cut. Spending must be cut.

When you write your elected reps/senators, just don’t ask for a hold on current tax level, make the case that taxes must be rolled back and OBVIOUSLY spending must be rolled back even more.

If we don’t cut spending and taxes, your children will continue to leave the state and your biggest investment your house will decrease in value, your property taxes will rise as the state cuts back on funding to towns and cities.

I know funding to towns and cities will be cut back, because the state will have no choice, their built in spending which is spending they have already committed to is growing faster than the income tax and sales tax revenues.

The Office of Policy and Management says so.

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