Barron’s, the financial investor publication, conducted an overall “credit worthiness” scorecard for states and ranked Connecticut near the bottom of the pack, despite a hefty budget reserve fund. Connecticut currently has an A1 stable credit outlook from Moody’s Investor Services and an A rating from S&P Global Ratings. However, according ...
Republican Senate Leader Mitch McConnell, R-Kentucky, said on Wednesday he would rather see states declare bankruptcy than issue another $500 billion requested by the National Governors Association to bail out states facing lower revenues and skyrocketing debt costs. “There’s not going to be any desire on the Republican side to ...
Connecticut remained a “sinkhole state” in this year’s state-by-state ranking and report from Truth in Accounting, a Chicago based think-tank that analyzes government accounting data. Connecticut ranked 48th in the country because of its high debt, which translates to $51,800 per taxpayer, according to the report. However, Connecticut’s ranking was ...
Governor-elect Ned Lamont will face a daunting task when he and fellow Democratic lawmakers assume full control of the state’s finances in January, according to a newly released report by Truth in Accounting.
Connecticut dropped twelve places to rank second worst in the nation for fiscal solvency, according to an annual ranking of states released last week by the Mercatus Center at George Mason University.
Connecticut ranked 49th in the country in a new analysis of state fiscal health by Truth in Accounting, due to its massive taxpayer burden of $53,400 per person and, once again, earned the organization’s label of a “sinkhole state.”