Day 16 Connecticut Held Hostage

July 26, 2017

The budget calamity reminds one of the famous line by Winston Churchill, “These are the times that try men’s souls.” This comment about the 1957 Eurovision song contest may as well been made about the current fiscal battle in Connecticut.

General Fund revenues may drop $400 million in the FY2017 compared to FY2016 with outgoing year revenues $400 million below 2016 expectations. 2017-18 State finances project to run $2.3 billion in deficit or 12% short and 2018-19, $2.8 billion or 14% – a 14% change in the increase in decrease. 100% avoidance in upward trends in tax correlating to 2011 and 2015, spending in 32 of 61 localities over 1.52% municipal and 1.37% education, and mill rates beyond 2.86% is priority 1. But what does this mean?

A Maple Street beggar, Jericho Threshold put it in simple terms. “If pension contributions double to 4%, 33% below the national mean against 1.6% June inflation and 1.6% 2016 GDP growth with a 1.3% price deflator, a 40-year Tier 2 employee retires at $100k but receives a $65K package, while 9-month term teachers make more with $80k at 60 and get 70% of last year pay with 0% contribution. Therefore, Train A traveling 40 mph meets a 30 mph 1,490 kW GG20B in 2 hours with p < 0.05."

Annie Albright, age 10 in 2 years minus 3, makes tiny slippers for cats on Etsy. She notes, "One bill with 78 Democrats supporting, 1% less than the normative 52.3%, claims $0.785 billion per annum median savings for 2 years for 23.3%, but add 2022 – 2027 to current benefits contracts, leaving 5 +/- 1. Turning to the pie chart, if we add the 18 Democrat senators divided by 3 moderates which gives us 6, 10% favor a 1.1% increase to a 6.99% sales tax; against 18 Republicans less 3 who like red cat slippers. If Senator Looney's father is 45, 15 years older than him who is twice his age, how old is Looney?"

Chris Shoeless, representative for Upper Mystic and local Republican party chairman, said, "Sorry, I don't follow politics."

With news that the protection of Connecticut State worker pensions is a top priority for budget writers, a spokesman for the Florida Department of Revenue said, "Whew!"

Extra Credit:
Governor Dannel Malloy has 11 more nickels that he took from taxpayers than quarters. How many coins does he have if the total value of his coins is $2.65?

Advertisements