McKinney Re: Growing OPM Deficit

March 20, 2012

State Senate Minority Leader John McKinney (R-Fairfield) released the following statement today in response to OPM’s latest deficit projection:

“Governor Malloy’s own analysts now project that this year’s post-GAAP budget deficit has grown to $62.6 million – $23.5 million worse than when Republicans last called on him to produce a deficit reduction plan. Despite acknowledging declining overall revenues, the governor has made no changes to the spending side of his ledger. We are moving in the wrong direction.

“The current fiscal year ends in three months. It is past time for Governor Malloy to produce a responsible plan to balance his budget. The General Assembly should also shift its attention to solving this problem before the legislature’s May 9th adjournment. We are running out of time and options. The longer we wait to act, the more difficult the task becomes.”