NOVEMBER 7, 2018

It’s finally over! Seems like this election has gone on for years and now we know Connecticut is an unshakeable union-dominated Democratic state. If there was ever a chance for change, this should have been it. The state is facing a deficit of $4.7 billion. The major cities in the state are all facing bankruptcy. Public employees are retiring with full pay at levels with extortionate fringe benefits and salaries that are rarely discussed in the media but far outpace private pay packages.

Connecticut is ranked 49th in the U.S. in terms of economic growth, falling way behind New York and Massachusetts, our nearest neighbors. People are fleeing the state. Many of our children are no longer able to find jobs locally.

Despite all of this horrendous news none of this information was divulged or discussed by any of the candidates. People running for state legislative offices mentioned nothing of this in their campaign materials and retreated to the same old nonsense that they were in favor of more money for the public schools, better transportation, social justice (whatever that means) and generally not a single comment on any of the campaign literature I read about the looming fiscal crisis.

Our new Governor, Ned Lamont, has said that he will put the emphasis on strengthening the private sector with no specific suggestions about how to do this and maybe more importantly no recognition that this will take years. We are left with mediators conducting the debates, government administrators and elected officials all refusing to admit that the emperor has no clothes.

This is a familiar problem around the U.S. particularly with Rhode Island and Illinois. Rhode Island notably solved its problems in a short period of time by taking an axe to the employee salaries, fringe benefits, and retirement plans. Illinois, like Connecticut, has been unable to find the political will power to do the same.

This assault on the employee salaries and benefits is the only possible option. Everything else - better schools, improved transportation, more corporations and private investment and the other suggestions by everyone will never happen until some semblance of financial order is returned.

So sit back and wait as the union-dominated legislature and the Governor’s Office attempts to deal with the problems. The unions claim this is not their fault and they should not be penalized for the financial irresponsibility of the past administrations. It will be interesting to see how the Lamont administration deals with these union excesses.

Beware of the Malloyesque suggestions who every year came up with specious programs to fix the pension problemall of which were union dictated and ineffective suggestions.”

If they don’t solve this problem in the first six months they are not going to solve it. Their inertia during the election indicates that no one seems to care. If you are thinking of selling your house it’s too late. The decline in housing prices has already begun and will continue for a long time to come.