SECURING CONNECTICUT'S ECONOMIC FUTURE
In Connecticut and throughout the nation, jobs are being lost and the economy is in recession. |
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Deep state budget deficits and shrinking state tax revenues will make decision-making in the 2009 General Assembly very difficult.
While the outlook is daunting, history shows that adversity can bring opportunity. The urgency of the crisis should motivate lawmakers to make state government as efficient and cost-effective as possible.
History offers another lesson: We cannot afford to revisit the mistakes of the late 1980s and early ’90s, when state government increased business taxes and other costs in an attempt to solve a budget crisis. Only after the state lost more than 150,000 jobs did lawmakers change tactics -- igniting an economic recovery by reducing business costs.
Restoring fiscal responsibility in state government will rebuild confidence and begin to secure our economic future -- as will improving core areas that will give our economy a solid footing, such as education and transportation.
Ultimately, jobs are the best form of economic recovery. Lawmakers should do whatever they can to promote a climate in which job creation can flourish again. This will give Connecticut its best prospects for a quicker recovery and a tremendous start on the future.
