You Are Here: Home » Economic Development » Report: CT budget cuts could weaken economy

Report: CT budget cuts could weaken economy

As the Connecticut General Assembly and Gov. Dannel P. Malloy meet to discuss the $415 million projected budget deficit today, researchers at the Connecticut Center of Economic Analysis (CCEA) have issued a report stating the state’s economic recovery may be in jeopardy if government officials rely solely on cuts to solve the budget gap.

“With the state’s economy still struggling to recover, the cuts in public sector expenditure will weaken the economy further, and may even put the state back into recession — measured in terms of contracting output for at least two quarters,” the report stated.

Malloy has previously stated the gap will be solved without an increase in taxes.

Researchers at CCEA,  housed under the University of Connecticut, predict budget cuts without offsetting policies and initiatives, would result in 35,000 additional jobs lost,which would be the worst contraction since World War II.

 

 

Print

About The Author

Jennifer Bissell
Reporter

Jennifer Bissell is a reporter for both the Fairfield and Westchester business journals. Previously she attended the University of Minnesota and contributed to several regional publications including the St. Paul Pioneer Press, St. Cloud Times and Twin Cities Business magazine.

Number of Entries : 877

Leave a Comment


Copyright Westfair Business Publications • All rights reserved • Reproduction in whole , or in part, without written permission is strictly prohibited
Westfair Communications Inc. • 3 Gannett Drive, Suite G7 • White Plains, NY 10604-3407 • Tel: (914) 694-3600
Scroll to top