On Monday morning, Malloy spoke to top corporate leaders at a meeting of the Connecticut Business and Industry Association.
The governor said tough decisions will have to get the budget in line, adding that the problems were many years in the making.
‘If you pile up obligations to your state employees and retirees and teachers, you do that year after year, but you don’t do that and a good number of governors and state legislators in anticipation that you won’t be around. Then you dig yourself in the kind of hole that Connecticut dug itself into,” said Malloy.
According to projections, the state budget could have a shortfall in the neighborhood of $1.5 billion in the new fiscal year, which begins in July.