Connecticut Credit Rating Cut

[Dont Taz Me Bro]

It never occurs to these people to not spend money they don't have. Welcome to the future of the United States of America.

Connecticut is preparing to borrow $956 million to close a budget gap in the fiscal year beginning July 1, after borrowing money last year to cover a deficit of $947.6 million. Not good. Fitch has reduced the states credit rating from AA+ to AA.

“The downgrade reflects the state’s reduced financial flexibility, illustrated by its reliance on sizable debt issuances during the current biennium to close operating gaps in the context of already high liabilities,” Fitch said.

EconomicPolicyJournal.com: Rating Cut by Fitch on Wealthiest U.S. State