Connecticut's Economy At A Crossroads: Reform Fiscal Policy Now Or Face Collapse
Connecticut has been one of the highest-income states in the U.S. for some time, but decades of fiscal irresponsibility is finally catching up to the people of the Constitution State, driving many out looking for greener pastures.
Don Klepper-Smith, an economist who had studied Connecticut for decades, and whose grandson lives in the state, is concerned for the future as state lawmakers continually throw copious amounts of money at the state's and localities problems without getting any results. It's basically been nothing more than spending his grandson Kellan's money without him having any say in it, and the amount of debt being incurred by the state government continues to climb.
"Connecticut’s economy is at a crossroads and I'm not optimistic about the future. The pronounced lack of fiscal discipline in state and local finances adversely affects our economy by creating greater uncertainty, undermining business confidence, subduing job creation and promoting greater out-migration."
It's pretty sad seeing a state that was once rather prosperous falling by the wayside. Its government got too comfortable handing out insane amounts of money, and its reckless habits are finally being realized. Will the legislators learn their lesson and make reforms to spending? Can 2-year old Kellan's future be saved?
At this rate, I'm not holding my breath...