By all accounts, Connecticut faces a deficit of approximately $100 million this FY 2015 and deficits of nearly $3 billion during the next two years. This will only lead to significant long-term unfunded liabilities on top of the debt the state has already accumulated.
Earlier this week, Gov. Malloy and the bonding commission allocated $266,970,253 in new General Obligation bonds. That pushed the state $167 million over the governor’s self-imposed soft bonding cap of $1.8 billion.