The Courant’s Rick Green opines that incumbents like Mr. Dodd and Mrs. Rell are in trouble as unemployment here will hit 10% in 2010. Quoting Mrs. Rell’s top economic advisor:
Delinquency rates on single-family mortgages have risen four-fold since 2006, and consumers are spending less and saving more given overall economic uncertainty. This means continued pressure on state sales and use taxes, incomes taxes, and corporate income taxes, your three big generators of state tax revenue. Bottom line conclusion: I highly doubt that our state budget problems have been resolved, only delayed and postponed.
