HARTFORD, Conn. (CBSNewYork/AP) – Connecticut’s budget deficit has ballooned even further and may continue to increase, the state’s comptroller has warned.
Comptroller Kevin Lembo now puts the shortfall at $415 million due to lower than expected revenues and overspending in Medicaid and social services.
WCBS 880 Connecticut Bureau Chief Fran Schneidau reports
Lembo also warned that the cost to clean up from superstorm Sandy is expected to widen the budget gap.
“I went out of my way to couch this projection of $415 million as ‘at least,'” Lembo told WCBS 880 Connecticut Bureau Chief Fran Schneidau.
Though the state’s sales tax was raised, revenue has not been flowing in as projected, said Lembo.
“There are certain assumptions made in a budget package and you try to forecast out where you will be on revenue and spending and that calculation did not hold,” Lembo told Schneidau.
Another prediction that Lembo said…
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