Hon. John Shaban, R-135th, January 5, 2011

COMMENTARY: Time for the state to get finances in order
Written by John Shaban, State Representative-elect
Wednesday, 08 December 2010 12:40

In preparation for taking office next month, I have been attending commission meetings and orientation sessions at the Capitol to ready
myself for the tasks at hand. With me at every meeting has been a notable attendee — the proverbial 800-pound gorilla that is our state’s
financial crisis.

The primary and overarching mission of the General Assembly and new governor is, quite simply, to get Connecticut’s finances back in
order. Indeed, all other issues — public safety, education, public services, etc. — are inextricably linked to, and negatively affected by,
this financial crisis. We now have projected structural deficits of near $3.5 billion a year for the next three years — i.e., almost a 20% yearly
shortfall. Add to this over $70 billion in unfunded pension and benefits liabilities, an insolvent unemployment fund, and the attendant
borrowing/interest costs from each, and the picture is not pretty. While there is plenty of blame to go around, these monstrous debts and
deficits have been created by three main causes: Overspending, overborrowing and overpromising.

Bottom line, we can no longer grow the government to serve political ends and thereafter patch the resulting budget gaps by bonding
expenses or using gimmicks like one time federal “stimulus” grants (which are, of course, also funded by borrowing). Our government must
stop promising to be all things to all people, and must recognize that private sector growth is the cure for both our private unemployment
woes and public fiscal problems. If we reduce spending, taxes and regulation, and simultaneously promote predictability, businesses and
jobs will return along with the revenue needed to fund programs that for too long have been running on borrowed money.

Regrettably, Gov. Rell’s proposed transition budget — which suggests many of the painful cuts that are needed — has been met with
resistance by some who helped cause the problem. Still, I am encouraged by Governor-elect Malloy’s promise to reduce the size and cost
of our government, and his stated willingness to make the hard decisions that are needed. I hope the legislators in the Democratic majority
will follow suit. Over all, though, I am optimistic about our state’s future, and look forward to working with my new colleagues from both parties
to send that gorilla home.

---