As Connecticut faces a continuing budget crisis, a new study has found Connecticut has the third highest taxpayer burden in the nation due to its unfunded pension liabilities. Connecticut’s high debt burden earned it the classification as a “sinkhole state.”
Truth in Accounting
Connecticut was labelled a “sinkhole state” and placed 49th in the nation based on its financial issues and taxpayer burden in the annual Financial State of the States report by Truth in Accounting, a government accounting think tank. The unfunded pension and healthcare liabilities were the largest factors of debt in determining Connecticut’s ranking.