Wall Street Journal Dissects Connecticut’s Economic Troubles Again.
There may be a permanent template in the editorial offices of the Wall Street Journal that sets forth Connecticut’s most recent economic policy blunders. The newspaper used it again today to take apart Governor Ned Lamont and the legislature’s most recent misbegotten decisions. The editorial is shorter but no less painful than usual.
You have your choice of chilling paragraphs. The last two are especially painful:
Population flight is taking a toll on the state’s economy and budget. Last week the federal Bureau of Economic Analysis reported that Connecticut’s GDP grew a paltry 1% in 2018, 44th in the country and the slowest in the Northeast after Rhode Island. The U.S. economy grew about 3%.
Slow economic growth has depressed tax revenue and contributed to a $3.7 billion budget deficit that Democrats are now scrounging to fill with new taxes that will drive more taxpaying citizens out of Connecticut.
The regular session of the legislature concludes four weeks from today. It will not be a surprise if Journal editorial writers find another occasion to give the state’s leaders another barracking.