Published November 15. 2012 11:00AM Updated November 15. 2012 12:02PM
HARTFORD, Conn. (AP) — Gov. Dannel P. Malloy says some "painful choices" and spending cuts will be needed to help cover Connecticut's projected $365 million budget deficit.
Malloy stressed Thursday that the state is in better financial shape than about two years ago, when Connecticut faced a $3.6 billion deficit.
Malloy made his remarks during a meeting of state agency heads.
He warned that the projected deficit for the current fiscal year, which ends June 30, will fluctuate in the coming months. But he pledged to end the year with a balanced budget without raising taxes.
The Democrat plans to release a deficit-cutting plan in the coming weeks.
He blamed the deficit on a sluggish national economy and a growing need for Medicaid health coverage. He said the situation is not unique to Connecticut.