Fasano Statement on Budget Deficit Confirmed by Comptroller Today

July 1, 2015

HartfordSenate Minority Leader Len Fasano (R-North Haven) released the following statement regarding the 2015 budget deficit as reported by Comptroller Kevin Lembo today. The Comptroller’s report confirms the OPM reported deficit of $115.7 million and indicates the rainy day fund will be used to pay for the shortfall.

“Yesterday we all saw the governor fail to keep his promise not to raise taxes. Today, we see him failing to keep another promise – that we wouldn’t face a deficit.

“In recent days Democrats have accused Republicans of acting irresponsibly, using harsh words to distract from today’s very real problems caused by the reckless approach of many Democrat leaders. But we cannot ignore the fact that we are in financial trouble. There is a deficit today. I predict there will be one a year from now. And even non-partisan analysts see a deficit two years into the future. To say otherwise is pure fantasy.

“For the past eight months the governor ignored all the warning signs that a budget shortfall was imminent. And now his only option is to use our state’s emergency cash to make up the difference. That’s irresponsible, not to mention dangerous. Without any structural change in the new state budget, I fear we are on the same trajectory and the outlook is not good. The state budget is like quicksand, and taking from the rainy day fund is the first sign of Connecticut sinking.”