Thanks To Dan Malloy’s Failed Policies, Connecticut’s Weak Economy Has Become The “New Normal”

Thanks to failed Democrat governor Dan Malloy’s catastrophic policies, Connecticut’s bleak economic situation has become the “new normal.” Moody’s Investors Service, a major Wall Street Credit rating agency is warning that the state’s poor economy will likely be an issue for state budgetary and fiscal management for “years to come.”

The CT Mirror reports:

“…the state’s economy ‘has entered a ‘new normal’ with employment still below pre-financial crisis levels and income growth lagging the nation’s.”

Connecticut’s financial services sector has lost 11 percent of its jobs since 2007 “and the non-financial sectors have failed to compensate, with manufacturing in decline and lackluster growth in the service sector,” Van Wagner said.

The lackluster economic growth has been hampered further by population loss, Moody’s wrote. Connecticut is one of just four states to lose population every year since 2013.

The state’s poorly funded pension for municipal teachers and pension and retiree health care programs for state employees reflect insufficient savings patterns that date back to 1939.”

After seven years of Dan Malloy’s failed leadership, the damage of his failed economic policies is becoming systemic and will be even more difficult to fix in the coming years. Connecticut cannot afford to allow Dan Malloy’s catastrophic and reckless policies to continue after 2018.