The Connecticut Budget Is Drawn Up In The Middle Of The Foreclosure Crisis

The Connecticut budget has been drawn up in the middle of the foreclosure crisis with hushed fear about tax increases

. But Governor Jodi Reill is stressing that at all costs this hike in taxes should be avoided.

Reill had suggested a budget for two years that would make cuts in spending by the state, merge many state agencies, continue with aid to towns and cities so that the pressure would not be felt by property tax payers. It would also give much wanted relief to municipalities without increasing taxes. Reill felt that in the middle of the recession blowing across the country this is the worst thing that could be done would be to raise taxes.

The economy of Connecticut has been badly mauled by the recession. Thousands of lives have been turned topsy-turvy with job losses and foreclosures as well as because of Wall Street blues and a lingering sense of uncertainty. The employers who have been the pillars of the economy of Connecticut have been forced to lay off sincere workers.

Since the budget recommendations were released last February the economic climate has worsened. In Connecticut 18,100 have lost jobs. Over 4,000 business entities have downed shutters. Over 7,500 foreclosures have ruined families.

Even four months after these suggestions have been put forward there has been no budget there has not even been a budget vote either in the House or the Senate.

The recession is causing huge deficits for the following two fiscal years. The governor has been working with the legislators on a fresh budget with the legislators. But it has become obvious that some are not prepared to make the cuts in spending without which the budget gaps cannot be closed. The other alternative would be to raise taxes something that should be avoided at all costs.

Taking all things into consideration the Governor took the extraordinary step of offering a second budget that once more excludes any clause about tax increases. Similar to the suggestions made about the budget in February it has again been said that spending cuts have to be made although it is not palatable to anybody. But the residents of Connecticut are looking up to those they have elected to make these essential cuts and complete the budget business timely. Aid has again been offered to the municipalities to avoid inevitability of increasing taxes. Agencies are to be merged and made smaller to make them more competent.

by: Karen

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