I am happy to invite you to watch an interview I recently did with two women who are working hard to put an end to hunger in Connecticut. Nancy Carrington is the Executive Director of the Connecticut Food Bank and Cheryl Bedore is President of Masters Manna in Wallingford. Both women joined me on my show Forum with Len Fasano to talk about the important work their organizations do and how you can pitch in.
Wednesday, November 25, 2009
Friday, November 20, 2009
Our Economy Needs Real Stimulus
Connecticut’s recession continues to get worse. Unemployment in our state is now 8.8%, just below the national average of 10%. We have lost over 87,000 jobs this year in Connecticut. Every middle class family has been directly or indirectly impacted by this job loss, and the federal and state government have failed to come up with solutions that work.
The stimulus package passed by Washington has failed to stimulate the economy. While we have been able to receive some nice improvements from the stimulus package (e.g., repaving the Merritt Parkway around Exit 46-48), it has failed to stem the tide of unemployment facing our state. Unfortunately, the main result of the stimulus package is another $2,500 in national debt for every man, woman, and child in Connecticut. The stimulus package has been an expensive failure.
Fortunately, there are steps both federal and state government can take to help end the recession. Notice I said “help”, because government cannot end the recession by just spending more money. Small businesses will need to lead us out of the recession. Small business owners have created more than 90 percent of the new jobs in our state in the last 10 years. While big corporations are great to have in Connecticut, it is the little guy who really drives our economic growth. Government’s role should be to set up the best tax, regulation, and legal system for small business to create good jobs for Connecticut families.
First, the federal government should repeal the remainder of the stimulus package and use it to cut payroll taxes for small businesses and middle class families. Less than 20% of the stimulus has actually been spent, meaning there is over $500 billion still unspent. We could cut the payroll tax in half for the next year and still spend less than that. The payroll tax is currently 12.4%, split evenly people employers and employees. This tax cut would mean the average middle class family would receive $1,500 of their income back, and small businesses would get 3% of their payroll back.
Instead of the pork-barrel projects in the stimulus package, we can directly help small businesses and middle class families. Instead of give-aways to special interest groups, a direct tax-cut will enable small businesses to hire more people and put money directly into middle class families’ pockets. Best of all, the deficit would be lowered because the tax cut would be less expensive than the current “stimulus” package.
Second, state government needs to reverse the tax increases in this year’s budget. I was proud to vote against this budget, which increased taxes and fees by over a billion dollars, and borrowed a billion dollars to cover operating expenses. We need to reverse these tax increases, and get serious about cutting spending at the state level. Common-sense ideas like resetting all state program spending back to 2007 levels, shifting more social services from state agencies to less expensive non-for-profit community providers, and merging duplicative state agencies have all been left out of our budget. Instead, higher taxes on companies and individuals will choke any job creation that may happen in the next few months.
We need real stimulus for our economy. Federal and state government are both getting it wrong right now, as evidenced by our high unemployment. My hope is that both Republicans and Democrats can work together to implement the real solutions I have proposed for small business and middle class families.
The stimulus package passed by Washington has failed to stimulate the economy. While we have been able to receive some nice improvements from the stimulus package (e.g., repaving the Merritt Parkway around Exit 46-48), it has failed to stem the tide of unemployment facing our state. Unfortunately, the main result of the stimulus package is another $2,500 in national debt for every man, woman, and child in Connecticut. The stimulus package has been an expensive failure.
Fortunately, there are steps both federal and state government can take to help end the recession. Notice I said “help”, because government cannot end the recession by just spending more money. Small businesses will need to lead us out of the recession. Small business owners have created more than 90 percent of the new jobs in our state in the last 10 years. While big corporations are great to have in Connecticut, it is the little guy who really drives our economic growth. Government’s role should be to set up the best tax, regulation, and legal system for small business to create good jobs for Connecticut families.
First, the federal government should repeal the remainder of the stimulus package and use it to cut payroll taxes for small businesses and middle class families. Less than 20% of the stimulus has actually been spent, meaning there is over $500 billion still unspent. We could cut the payroll tax in half for the next year and still spend less than that. The payroll tax is currently 12.4%, split evenly people employers and employees. This tax cut would mean the average middle class family would receive $1,500 of their income back, and small businesses would get 3% of their payroll back.
Instead of the pork-barrel projects in the stimulus package, we can directly help small businesses and middle class families. Instead of give-aways to special interest groups, a direct tax-cut will enable small businesses to hire more people and put money directly into middle class families’ pockets. Best of all, the deficit would be lowered because the tax cut would be less expensive than the current “stimulus” package.
Second, state government needs to reverse the tax increases in this year’s budget. I was proud to vote against this budget, which increased taxes and fees by over a billion dollars, and borrowed a billion dollars to cover operating expenses. We need to reverse these tax increases, and get serious about cutting spending at the state level. Common-sense ideas like resetting all state program spending back to 2007 levels, shifting more social services from state agencies to less expensive non-for-profit community providers, and merging duplicative state agencies have all been left out of our budget. Instead, higher taxes on companies and individuals will choke any job creation that may happen in the next few months.
We need real stimulus for our economy. Federal and state government are both getting it wrong right now, as evidenced by our high unemployment. My hope is that both Republicans and Democrats can work together to implement the real solutions I have proposed for small business and middle class families.
This Problem Will Not Go Away
8.8% unemployment, a $385 million deficit, major companies like Pratt Whitney and Aetna eliminating jobs - what more will it take for Democrat leaders to realize that our state’s economic crisis is not going away?
Putting our head in the sand and gambling that the economy is going to improve significantly in the fourth quarter, is not only an unrealistic approach, but it lacks the leadership we need in the state legislature.
Enough is enough. Senator Williams and Representative Donovan need to convene a special session now to address our state’s growing economic problems, close our budget deficit, and preserve any chance of avoiding massive across the board tax increases.
Putting our head in the sand and gambling that the economy is going to improve significantly in the fourth quarter, is not only an unrealistic approach, but it lacks the leadership we need in the state legislature.
Enough is enough. Senator Williams and Representative Donovan need to convene a special session now to address our state’s growing economic problems, close our budget deficit, and preserve any chance of avoiding massive across the board tax increases.
Unemployment Figures Paint Grim Picture
Layoffs at Aetna and increasing unemployment figures are the latest damning evidence that the State of Connecticut is not doing enough to create and retain jobs in this economy. The Democrats’ continued ignorance of our budget crisis – their failure to make necessary spending reductions and their decision to raise taxes and fees across the state; including a new 10% surcharge on the profits of Connecticut businesses, is the wrong direction for the State of Connecticut.
Connecticut has lost 87,000 jobs in this recession and most economists predict we will lose tens-of-thousands more. We need to make job creation and retention a priority and it starts with finally getting serious about our budget crisis. The Office of Fiscal Analysis and the Office of Policy and Management are projecting a $385 million deficit for the current fiscal year. The legislature should be in special session now to fix it. And this time we can’t paper over the problem with tax increases and borrowing. We need to protect Connecticut’s job creators and stop passing-off this crisis to future generations. We need to finally make the difficult spending reductions we all know are necessary.
Connecticut has lost 87,000 jobs in this recession and most economists predict we will lose tens-of-thousands more. We need to make job creation and retention a priority and it starts with finally getting serious about our budget crisis. The Office of Fiscal Analysis and the Office of Policy and Management are projecting a $385 million deficit for the current fiscal year. The legislature should be in special session now to fix it. And this time we can’t paper over the problem with tax increases and borrowing. We need to protect Connecticut’s job creators and stop passing-off this crisis to future generations. We need to finally make the difficult spending reductions we all know are necessary.
Wednesday, November 18, 2009
Thank You, Governor Rell
I am disappointed that Governor Rell has chosen not to seek reelection, but I completely understand. She has served our state with honor for the past 25 years, and I am sure she thought long and hard about her decision to retire. If she believes that not seeking reelection is the right thing for her and her family, then we need to graciously accept her decision and gratefully thank her for everything she has done for our state.
Governor Rell stepped up to the plate when we desperately needed her help to restore public trust in our state government. More than five years later, the people of Connecticut still love and respect her – and she has earned our respect and admiration. I don’t think any of us will ever forget the courage she showed when addressing the General Assembly as Governor for the first time just days following her cancer surgery. She held on to the respect of Connecticut’s citizens because she led our state with integrity, and people knew that she always did what she believed was best for our state.
On a personal note, I have always cherished Governor Rell’s friendship, and am honored to have the opportunity to work with her on behalf our state.
Governor Rell stepped up to the plate when we desperately needed her help to restore public trust in our state government. More than five years later, the people of Connecticut still love and respect her – and she has earned our respect and admiration. I don’t think any of us will ever forget the courage she showed when addressing the General Assembly as Governor for the first time just days following her cancer surgery. She held on to the respect of Connecticut’s citizens because she led our state with integrity, and people knew that she always did what she believed was best for our state.
On a personal note, I have always cherished Governor Rell’s friendship, and am honored to have the opportunity to work with her on behalf our state.
Wednesday, November 4, 2009
Comptroller’s Deficit Projection Signals More Bad New for Connecticut
Just two months ago, Democrats, in the face of Republican warnings and without a single Republican vote, passed a partisan budget that, according to the Democrat Comptroller, is now $624 million in deficit. The Comptroller has also questioned the state’s ability to realize another $473.3 million in unspecified savings.
The last time we faced a deficit of this magnitude, Democrats ignored Republican warnings and the State ended up borrowing $1 billion to close the FY09 deficit, increasing debt service and mortgaging our future. We cannot continue to repeat past mistakes.
Republican leaders again stand ready, willing and able to work with Democrats to finally do the difficult, but necessary work to reduce the size and cost of state government. We need the Democrat majority to stop ignoring reality and join us at the table.
The last time we faced a deficit of this magnitude, Democrats ignored Republican warnings and the State ended up borrowing $1 billion to close the FY09 deficit, increasing debt service and mortgaging our future. We cannot continue to repeat past mistakes.
Republican leaders again stand ready, willing and able to work with Democrats to finally do the difficult, but necessary work to reduce the size and cost of state government. We need the Democrat majority to stop ignoring reality and join us at the table.
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