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SKIPPY_IS_REAL t1_iy5e120 wrote

So yes and no. The september budget report has a ton of context to it, for example, the surplus is predicted based on the first three months of the fiscal year so far. Beyond that, these two paragraphs sorta suggest we got saved by the pandemic and that we are living on borrowed time.

A surging stock market between 2018 and early 2022 drove much of the budget surpluses. But even as the market has cooled, other factors have helped the state.

According to Beckham’s report, rising interest rates have improved the state’s cash position by $95 million over the past month, while the federal government’s extended public health emergency has bumped Medicaid payments to Connecticut up by $30 million.

The source is this

I edited for a typo.