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For Republicans — and many moderate Democrats — income and wealth migration is not only a very real threat, but a problem that’s already upon us as Connecticut increasingly raises taxes to cover surging pension costs.
“The sky is falling, the sky is falling!” I’ve been hearing this nonsense again, along with the complaint: “I can’t afford to fill up my gas tank.” Yes, we are in a changed situation from last year with over 5% Consumer Price Index inflation, but much of that is due to a short-term sharp spike in energy costs and another temporary spike in housing costs. We also have a medium-term spike in shipping costs. The only large sticky inflationary increase is the uptick in wages — and most people are fine with that.
Hartford Business Journal's first issue of 2021 includes an economic forecast section containing outlooks for the year ahead from various economists and industry experts. Here’s a look at what they had to say: Statewide Forecasts Fred Carstensen: CT has assets to change its economic trajectory. Can it leverage them?