Ben Barnes, the governor’s budget chief, acknowledged Tuesday that Malloy’s proposal for the new fiscal year beginning July 1 exceeds the state’s constitutional cap on spending by about $55 million.
Gov. Dan Malloy unveiled the second, two-year budget of his administration on Wednesday, promising to move Connecticut closer to recovery from the national recession by continuing investments in education and job development.
Moody’s Investor Service on Friday downgraded Connecticut’s debt rating, blaming the state’s high borrowing and retirement costs, and the slim prospects for replenishing the state’s rainy day fund in the near-term.
While a lot of people had a axe to grind or hoped to promote a special interest, others expressed a genuine interest in hearing the state of the state from the governor himself.