I'm ruling it out, Malloy said to reporters at the State Capitol complex. Federal law prevents it.
In theory, the bankruptcy could perhaps allow States to reduce the mass of pensions which are payable to employees of the state - some of whom are paid the pensions of more than $ 100,000 a year. "If the beginning of bankruptcy to avoid agreements that have done presto''impossibile will sell bonds in the municipal bond market on Wall Street, said Malloy, who was supported by all major state-employee unions last election year.
"If you start allowing any of the 50 states to declare bankruptcy, the market disappears. Connecticut is facing one of the largest budget deficit in its history, such as state and national economies remain sluggish. With unemployment high and constant drain tax collections, the state faces a deficit of $ 3.5 billion for the fiscal year that begins in July.
The Governor Dannel P. Malloy on Monday dismissed any idea of the Connecticut bankruptcy to avoid paying their debts.
In theory, the bankruptcy could perhaps allow States to reduce the mass of pensions which are payable to employees of the state - some of whom are paid the pensions of more than $ 100,000 a year. "If the beginning of bankruptcy to avoid agreements that have done presto''impossibile will sell bonds in the municipal bond market on Wall Street, said Malloy, who was supported by all major state-employee unions last election year.
"If you start allowing any of the 50 states to declare bankruptcy, the market disappears. Connecticut is facing one of the largest budget deficit in its history, such as state and national economies remain sluggish. With unemployment high and constant drain tax collections, the state faces a deficit of $ 3.5 billion for the fiscal year that begins in July.
The Governor Dannel P. Malloy on Monday dismissed any idea of the Connecticut bankruptcy to avoid paying their debts.
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