More than 30 percent of Connecticut’s budget goes to debt service, pension payments and [state employee] retiree health-care, all of which will linger for decades, Brennan said.
“It just makes it more difficult for businesses to have confidence in Connecticut," he said.
Yet, reviving Connecticut’s economy isn’t as simple as cutting taxes and rolling back regulations, economists said. Though it enjoys a highly educated population -- with the fourth-highest share of residents with bachelor’s degrees -- it lacks a thriving metropolitan center.
Hartford, the capital and a center of the insurance industry, is on the brink of bankruptcy. Bridgeport, the most populous city, is still only about as big as Syracuse, New York. [And offers even less, if that's possible].