Connecticut's Economic Trend Worst In Nation

The Hartford Courant ^

[matt04]

A report from the Bureau of Economic Analysis shows that Connecticut was last in economic growth last year, the only state in the nation where the combined value of goods and services produced shrank compared with 2011.

The report measures GDP, the sum of what residents, businesses and the government spend, plus investments and net exports. The value is in constant 2005 dollars, which controls for inflation. By that measure, total state GDP fell $250 million in 2012, to $197.2 billion.

Not only did the state GDP decrease by 0.1 percent in 2012, it fell by the same amount in 2011, a substantial downward revision of the last year's initial estimate of two percent growth.

In 2010, when the initial estimate suggested Connecticut had one of the strongest growth patterns in the country, the state's GDP only grew by 1.2 percent, half the rate of the nation.

It's a grim account of what's happening in Connecticut, said Don Klepper-Smith, an economist with DataCore Partners in New Haven.

"Our economic development policies and tax policies, while well-intentioned, are not serving us well," he said.

[matt04]

Gov. Malloy has been too busy banning guns, raising taxes (gas tax included), and building a busway between Hartford and New Britain to worry about that pesky economy.

Thankfully, plenty of business will move in to replace the revenue when Colt, Stag, etc. all move. Right?

[knarf]

Hey you crazy gun nuts .. get out ... I’ve a state to destroy.

[Uncle Miltie]

This is impossible, because the gun control is attracting bidness to the state....

[matt04]

Myself and other conservatives in the state, yes they do exist, believe that Malloy (who stole the election thanks to Bridgeport) is looking for some appointment in the Obama admin come 2014. He has made no signs that he intends to run again.

[TexasTransplant]

Hope Texas ends up with a couple of those Gun Companies... just to pad our Resume.

TT

[ronnie raygun]

The voters had a chance but the liberal cretans and the entitlement crowd won the day.

[max americana]

“Hey you crazy gun nuts .. get out ... I’ve a state to destroy.”

Hey, I think you created his new re-election slogan.

[castlegreyskull]

I live in Ct. I met my wife here when I was stationed in Ct. I can’t help notice that this state taxes the few workers left to oblivion.

[Libloather]

I sense a trend...

[willywill]

Norwich ct tax rate

26 per 1000

[YankeeReb]

Myself and other conservatives in the state, yes they do exist, believe that Malloy (who stole the election thanks to Bridgeport) is looking for some appointment in the Obama admin come 2014. He has made no signs that he intends to run again.

Pleased to meet ya brother, I'm probably the other conservative in this state (LOL) . Yes that election was stolen , right out of Al Frankin's playbook. As soon as I heard there were "voting irregularities" in Bridgeport and Hartford, even though Foley had a fairly comfortable lead, I knew the fix was in.

Don't forget New Haven is a "sanctuary city" and Dannel's city of Stamford might as well be one. I'm sure that had something to do with the way that election went.

[eyedigress]

RI can’t be to far behind.

[3Fingas]

Typical liberal nonsense: "Our economic development policies and tax policies, while well-intentioned, are not serving us well,"

Bad socialist policies, produce bad results. It's that simple.

[SunkenCiv]

CT can run on its hump for a while.

Thanks matt04.

[BillyBonebrake]

As a first responder in one of CT’s primary urban areas I can attest to the fact that this state is just getting warmed up. Think Detroit with nice foliage.

[matt04]

Malloy stole the election. They "accidentally" ran out of ballots in Bridgeport, then made copies in the Dem mayors office and extended voting several more hours. That gave Malloy a 6K vote "win."

[matt04]

At least they won’t have those eeeeevil high cap mags. Oh you mean the criminals, never mind.