Governor Malloy and UTC Executive Discuss the Economy

HARTFORD, Conn. (AP) _ A top United Technology Corp. executive has praised Gov. Dannel P. Malloy for proposing to close Connecticut’s budget gap, but says the state needs to cut spending even more to fix its economy.
United Technologies Chief Financial Officer Greg Hayes said at a forum Tuesday that the state needs to take “the tough actions outlined by Malloy,” who has proposed up to $1.8 billion in cuts to close a staggering deficit of about $3.2 billion to $3.5 billion.
The two executives met at a forum to discuss fiscal policy.
Malloy is promoting a two-year, $40 billion budget that calls for higher taxes, reduced spending and union savings.
Hayes inadvertently provoked a debate last year when he told investor analysts that”any place outside of Connecticut is low cost.”

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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