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volanger t1_iy4yt6q wrote

Reply to comment by SKIPPY_IS_REAL in Connecticut lawmakers begin special session on gas tax, hero pay, and more by jr_reddit

Isn't ct budget actually balanced? Lamont did that one. There's a lot to complain about him not doing, like not going after Eversource, but budgets balanced my dude

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SKIPPY_IS_REAL t1_iy5e120 wrote

So yes and no. The september budget report has a ton of context to it, for example, the surplus is predicted based on the first three months of the fiscal year so far. Beyond that, these two paragraphs sorta suggest we got saved by the pandemic and that we are living on borrowed time.

A surging stock market between 2018 and early 2022 drove much of the budget surpluses. But even as the market has cooled, other factors have helped the state.

According to Beckham’s report, rising interest rates have improved the state’s cash position by $95 million over the past month, while the federal government’s extended public health emergency has bumped Medicaid payments to Connecticut up by $30 million.

The source is this https://ctmirror.org/2022/09/20/ct-budget-surplus-ned-lamont/

I edited for a typo.

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