Looks Like Groundhog Day in Hartford. Again.
Contributed by Nick Perna, Economic Advisor to Webster Bank
The biennial budget process in Hartford is beginning to remind me of the movie Groundhog Day.
In the film, a reporter — played by comedian Bill Murray — relives the same day over and over until he finally changes his ways.
The movie was funny. The state of the budget process is not.
Last November, budget director Ben Barnes said Connecticut is in a “period of permanent fiscal crisis.” Connecticut governors and legislatures, current and past, are to blame for this ongoing mess.
The failure to live within the state’s constitutional spending cap and the never-ending rounds of new taxes erode the confidence of our citizens and the willingness of those who make the decisions to locate/keep their businesses in Connecticut.
Given the state’s chronic fiscal uncertainty, which has only gotten worse in recent years, could you — in good conscience– recommend to a friend or family member that they locate their business here?
The governor and legislature have it within their power to eliminate this barrier to creating and retaining jobs.
They can start by promising to live within the spending cap. And not crossing their fingers behind their backs.
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