Why a Connecticut Default Might Be on the Horizon

The transcript discusses Connecticut's financial struggles, highlighting its high debt per person and multiple credit downgrades. Concerns are raised about the state's ability to avoid defaulting on bonds. The impact of GE's move to Boston is examined, with comments on the negative business environment in Connecticut. The discussion also touches on the resilience of states like Detroit and New York City, emphasizing the slow process of recovery. The challenges of raising taxes and managing pension liabilities are also addressed.

What are some of the reasons Connecticut has been downgraded in terms of its fiscal health?

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How does the speaker perceive the tone of Connecticut's fiscal chiefs regarding the state's financial situation?

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What implications does the speaker suggest Connecticut's financial issues may have on the broader American economy?

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Discuss the potential long-term issues related to pensions mentioned in the text.

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What challenges does Connecticut face in raising taxes according to the speaker?

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