$55 million math mistake means state budget deficit bigger than first thought

This is why Math is so important and why if you don’t do your MATH right, you can cost the taxpayers dearly.

WTNH Connecticut News

HARTFORD, Conn. (WTNH) — State budget officials are admitting to a math mistake that may lead to state budget cuts. Tuesday, the state Office of Policy and Management sent out a news release saying the budget deficit in worse that first thought.

State officials blame the mistake on bad income data used in the calculation. 

“OPM has informed the legislature’s Office of Fiscal Analysis of a potential discrepancy in its calculation of the expenditure cap growth rate for FY 2016,” said Office of Policy and Management Secretary Ben Barnes in a statement. “The growth rate that was included in the Governor’s budget proposal, 2.98%, was inadvertently calculated using personal income data beginning with the fourth calendar quarter of 2008 and ending with the third calendar quarter of 2014. The usual practice of OFA in calculating these growth rates is to use a range beginning with the third quarter personal income data…

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