Posted on 09/08/2017 7:22:11 AM PDT by SeekAndFind
Incredible.
So all those people who provided goods and services to the city will be filing bankruptcy shortly after that. Most can not afford to receive pennies on the dollar.
It depends. This article is about as clear as mud. Hartford is indeed in debt up to its eyeballs, but last I knew it could still make its debt service payments. Now, for long term, bankruptcy is the only way to get a handle on their finances, but this article makes it sound as though the city’s hankering for a bailout instead.
Connecticut doesn’t really have much in the way of County Government, so a LOT of the school financing comes from state taxes. The governor plans to slash the school funding outside of the urban blight areas (Hartford/New Haven/Bridgeport/Waterbury, etc.) to ZERO, forcing a crisis on towns that have good management/governance and reasonable taxes (for CT).
I don’t know about this. They seem to have money for all sorts of stuff. What is the big deal??
Yeah, because they keep taking it from ME.
And, all the crap they buy, I have no use for.
“The governor plans to slash the school funding outside of the urban blight areas (Hartford/New Haven/Bridgeport/Waterbury, etc.) to ZERO, forcing a crisis on towns that have good management/governance and reasonable taxes (for CT).”
Correct. I live in one of those towns. Our schools are actually first-rate. To maintain this standard we are bracing for the double digit percentage increase in already very high property taxes. People will leave.
The big deal? Hartford is over $400,000,000 in debt.
Malloy is not running, so he doesn’t care. His replacement will have a big problem to deal with.
The dems will use this to suck money from the surrounding towns.
Suburbs, prepare to pay for Hartford’s failures.
“...this article makes it sound as though the citys hankering for a bailout instead.”
Exactly. This is what it’s come to...a government waiting for a government to come to their rescue.
The old from each according to their ability to each according to their need.
Worked well for Venezuela.
Just read in another article that Hartford is one of many cities that is trying (or will be) to attract Amazon for their new HQ2....guess not being able to balance a budget and/or pay your outstanding debts does not bode well for a big company to want to locate there - not to mention CT’s oppressive taxes.
=8-0
“We’re running out of money, you need to pay more”
[picture of world’s smallest violin for Malloy, Murphy, Himes to play at next town hall]
This is an easy problem to fix for both the city and the state—all that it requires is political courage.
Malloy and Bronin just need to hold a joint press coverage and announce that Hartford and other CT cities have revoked their sanctuary city status and will turn over all illegal immigrants to the INS.
That will save the state one billion dollars a year.
They will _never_ do it. They would rather declare bankruptcy.
The bond-holders should demand it—no negotiations until it is done!
People may not be able to leave if they can’t sell their homes because nobody wants to move to CT.
And with Hartford that "future", along with the ballooning debt payment, has arrived. (Can you repossess a city?)
What’s breaking Hartford and CT isn’t illegals, though they are an additional burden. It’s public pensions and bennies.
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