[Hartford Courant] Mayor Luke Bronin fired a warning shot at lawmakers and Gov. Dannel P. Malloy Thursday, saying Hartford would seek permission to file for bankruptcy if the city didn’t get the state aid it needs by early November.
In a sharply worded letter to House and Senate leaders and to Malloy, Bronin cautioned: “If the state fails to enact a budget and continues to operate under the governor’s current executive order, the city of Hartford will be unable to meet its financial obligations in approximately 60 days.”
Malloy unveiled new budget proposals Thursday that would restore funding for municipalities and reject major education cuts planned for Oct. 1. Democrats and Republicans met in an attempt to reach common ground.
But Bronin warned that the “extraordinary measures” other towns are considering in response to the state’s ongoing budget gridlock — layoffs, cuts to services and drawing from rainy day funds — are actions Hartford has taken already.
In 2016, the mayor laid off 40 workers and cut millions from city departments. He also used most of Hartford’s rainy-day fund to help offset deficits. Still, Hartford had to borrow millions in June to help pay its bills.
House Majority Leader Matthew Ritter said he was optimistic that lawmakers would reach an agreement soon.
In July, Hartford hired an international law firm to explore the prospect of seeking Chapter 9 protection. Bronin said the firm, Greenberg Traurig, had “initial conversations” with a large bond insurer and that talks with bond holders are planned for the coming weeks.
Last month, Moody’s Investors Service noted that the financially troubled city was rapidly approaching debt repayment deadlines. Hartford owes $3.8 million in September and $26.9 million in October. The ratings agency said the city’s “path to fiscal sustainability will likely require debt restructuring along with some combination of labor concessions, other expenditure cuts and new revenues.”
Hartford wouldn't be the first city in Connecticut to file for bankruptcy. Bridgeport sought Chapter 9 protection in 1991, but a federal judge dismissed the petition, saying the city was capable of paying its bills.
Bronin must get approval from Malloy to file for bankruptcy. Just a clue on why they're in the mess they're in...
Ironically CT had no state income tax until 25 years ago. They are very proficient at collecting other people's money but not very prudent in spending it.
Posted by: regular joe ||
09/11/2017 13:14 Comments ||
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#9
>CT had no state income tax until 25 years ago
That's probably why they're broke, you need debt to replace the damage done by immoral income/sales taxes
[FreeBeacon] Hillary Clinton said in an interview airing Sunday that her career as a political candidate is over, adding she was not finished with politics because "our country's future is at stake."
In an interview on the CBS program "Sunday Morning," Clinton declared she would remain active but that she was "done with being a candidate."
"Is your political career over?" CBS anchor Jane Pauley asked.
"Yes. As an active politician, it's over," Clinton said.
"You will never be a candidate for office‐" Pauley started.
"I am done with being a candidate, but I am not done with politics, because I literally believe that our country's future is at stake," Clinton said.
In her narration of the report, Pauley said Clinton still seemed "gobsmacked" over the defeat at the hands of Donald Trump, saying she "dishes out blame and she accepts responsibility."
Clinton hit Trump for saying being president was harder than he thought it would be.
"Well, yeah, because it's not a show. It's real. It's reality for sure," Clinton said.
The network interview, recorded Friday, is the first in a series of media appearances as Clinton promotes her memoir What Happened, which delves into her 2016 election loss.
In released excerpts, Clinton has laid blame for her defeat on herself but also on Sen. Bernie Sanders (I., Vt.), the media's coverage of her private email scandal, former FBI Director James Comey, Russian meddling in the election and other factors.
#6
I do hope she isn't serious; Americans need her to stay prominent, as a living reminder of exactly what the Democratic Party stands for: nothing more than a greedy, grasping, raw lust for power.
So keep on cackling, kvetching and scolding, Hillary! America needs you!
Posted by: Dave D. ||
09/11/2017 5:25 Comments ||
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#8
Wait a minute didn't she also say she was considering the Ministry? For a minute, I was enjoying my dream. Yeah, there is that part of Hillary that lies like a frigging bad rug.
#20
I'm just waiting for her to break down and start claiming the "Little Grey people" hacked the voting machines and elected Trump to keep themselves secret.
I'm only half-kidding.
Posted by: Charles ||
09/11/2017 17:33 Comments ||
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A multi-volume chronology and reference guide set detailing three years of the Mexican Drug War between 2010 and 2012.
Rantburg.com and borderlandbeat.com correspondent and author Chris Covert presents his first non-fiction work detailing
the drug and gang related violence in Mexico.
Chris gives us Mexican press dispatches of drug and gang war violence
over three years, presented in a multi volume set intended to chronicle the death, violence and mayhem which has
dominated Mexico for six years.
Rantburg was assembled from recycled algorithms in the United States of America. No
trees were destroyed in the production of this weblog. We did hurt some, though. Sorry.