Connecticut’s fixed costs like Medicaid, debt service and retiree benefits continue to grow faster than state revenue and make up 52 percent of the state’s budget, according to the Office of Fiscal Analysis. In fiscal […]
debt service
A new report from Fitch Ratings placed Connecticut second only to Illinois in the amount of state debt compared to personal income. The 2020 State Liability Report looked at direct debt and net pension liabilities […]
When Connecticut issued bonds in June of 2018, the bond covenant said Connecticut would strictly adhere to its new $1.9 billion bonding cap until 2023 — with no changes to underlying statutes and no exceptions. […]
What are the major cost driver's of Connecticut's deficit in 2020?
Connecticut's transportation funding problems have been blamed on increasing debt costs, but a look at the history of transportation spending in Connecticut shows that, when adjusted for inflation, the biggest cost increases have been for public transportation and fringe benefits for employees.
This year we’ve tried to shine a light on Connecticut’s bonded debt, as well as our pension and retiree healthcare liabilities. When all of this debt is combined, Connecticut is one of the most indebted states in the nation.
A new report by J.P. Morgan’s Michael Cembalest provides additional clarity.
