I'm shocked! SHOCKED, I tell you!
HARTFORD — By many measures, Connecticut appears to be brimming with wealth. The state is known for its Gold Coast, populated with chief executives and hedge fund billionaires and specked with mansions on spacious estates. Then there are the suburbs that draw families with placid neighborhoods and high-achieving public schools.
But the state capital is teetering on the brink of bankruptcy, and the turbulence rocking Hartford has served as a stark reminder of the gulf between the affluent enclaves that drive Connecticut’s wealth and its larger cities that have long grappled with high crime, underperforming schools and unsure financial footing.
The problems in Hartford are similar to some other cities across the United States that have sought relief through bankruptcy: its tax base and population have shrunk and its pension obligations and debts have piled up. City officials, who are confronting a budget deficit approaching $50 million, have already made deep cuts in services, sought concessions from labor unions representing public employees and have taken steps, such as hiring lawyers, to position the city to be able to file for bankruptcy.
At the same time, Hartford has looked to the state for help, only to find that financial situation is also in disarray. The state, which has a deficit of about $3.5 billion, started the fiscal year on July 1 without a budget after months of wrangling in the State Legislature and a resolution could be weeks away.
https://www.nytimes.com/...ward-bankruptcy.html
If there are no dogs in Heaven, then when I die I want to go where they went. - Will Rogers
Emery's Third Coast Triathlon | Tri Wisconsin Triathlon Team | Push Endurance | GLWR
HARTFORD — By many measures, Connecticut appears to be brimming with wealth. The state is known for its Gold Coast, populated with chief executives and hedge fund billionaires and specked with mansions on spacious estates. Then there are the suburbs that draw families with placid neighborhoods and high-achieving public schools.
But the state capital is teetering on the brink of bankruptcy, and the turbulence rocking Hartford has served as a stark reminder of the gulf between the affluent enclaves that drive Connecticut’s wealth and its larger cities that have long grappled with high crime, underperforming schools and unsure financial footing.
The problems in Hartford are similar to some other cities across the United States that have sought relief through bankruptcy: its tax base and population have shrunk and its pension obligations and debts have piled up. City officials, who are confronting a budget deficit approaching $50 million, have already made deep cuts in services, sought concessions from labor unions representing public employees and have taken steps, such as hiring lawyers, to position the city to be able to file for bankruptcy.
At the same time, Hartford has looked to the state for help, only to find that financial situation is also in disarray. The state, which has a deficit of about $3.5 billion, started the fiscal year on July 1 without a budget after months of wrangling in the State Legislature and a resolution could be weeks away.
https://www.nytimes.com/...ward-bankruptcy.html
If there are no dogs in Heaven, then when I die I want to go where they went. - Will Rogers
Emery's Third Coast Triathlon | Tri Wisconsin Triathlon Team | Push Endurance | GLWR