A frigging math mistake. Cannot make this stuff up.

$55 million math mistake means state budget deficit bigger than first thought
http://wtnh.com/2015/02/24/55-million-math-mistake-means-state-budget-deficit-bigger-than-first-thought/

State budget officials are admitting to a math mistake that may lead to state budget cuts. Tuesday, the state Office of Policy and Management sent out a news release saying the budget deficit in worse that first thought.

State officials blame the mistake on bad income data used in the calculation.

“OPM has informed the legislature’s Office of Fiscal Analysis of a potential discrepancy in its calculation of the expenditure cap growth rate for FY 2016,” said Office of Policy and Management Secretary Ben Barnes in a statement. “The growth rate that was included in the Governor’s budget proposal, 2.98%, was inadvertently calculated using personal income data beginning with the fourth calendar quarter of 2008 and ending with the third calendar quarter of 2014. The usual practice of OFA in calculating these growth rates is to use a range beginning with the third quarter personal income data in the relevant years. The statute is silent as to the exact data to use.”

The miscalculation means the governor’s proposed budget is over the spending cap for the next fiscal year by $55 million.

Barnes apologized for the mistake.

“On behalf of the agency, I personally apologize for this discrepancy, and commit to working with OFA and the legislature to identify the adjustments necessary to ensure compliance with the expenditure cap,” he said in a statement.

Looking good Malloy. I smell corruption at my house

Funny how he made this mistake in an election year. What a fucking piece of shit he is.

I feel like I woke up in bizzaro world with Malloy and Obama.

Common Core

My surprised face....

That's one million $55 tax rebates.

So $55 million combined with the $48 million pledged to get us into compliance with GAP accounting rules means the state has to find $103 million.

They will probably just double the Magazine Tax......

The entire Abministration is a math

Joe Markley and Rob Sampson had a live discussion with Lisa Hammersly, a legislative budget analyst,  who said the deficit is more likely $300M. The governor proposed no tax increases, but she said there are about $750M in tax increases coming, of which $105M will come out of consumers pockets.
Markley, Sampson and Hammersley

What kills me is that there are some really expensive people working for this administration and they can't get their act together to do their job.  How many times do we hear the word  "unexpected" pop up during descriptions of shortfalls.  

And when they were talking about why there was a deficit, the fact that they were counting on double-digit improvements in the income from tax receipts because of a booming economy, I almost had a conniption.  How utterly disconnected to you have to be?  

I guess my next question is how far down the rabbit hole does this state go before someone is held accountable and then what's the next step?  We don't have recall here in CT so Malloy has a solid job for the foreseeable future regardless about how he performs.   Pretty sweet, eh??

Rome

The real numbers are certainly much higher.

Of course they are. The real numbers are always higher.

No one really seems to give a shit though. Not the politicians. Not the average Joe on the street. And most certainly not the media.

Does this mean they're going to cancel all those raises they doled out before the election?