Deficit Pegged For FY 18 State Budget

(Hartford, Conn./CBS Connecticut) – The state comptroller is releasing new figures on Connecticut’s deficit for the current fiscal year.

Kevin Lembo says the state is facing a 93-point-8-million dollar shortfall for the end of the fiscal year 2018.

This, as Connecticut continues to operate under a gubernatorial executive order, absent a state budget.

Lembo says in a letter to Governor Dannel Malloy while the spending reduction authority should allow him to meet savings targets, spending trends show that fixed costs–debt, state employee and teacher retirement and retiree health care continue to rise.

Lembo says descretionary spending has been forcibly reduced.

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