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advocacy community education
We Can Bring
Fixing Our Future
to You!
If you have a group of citizens that would be
interested in an eye-opening 30-minute presentation
on the state's financial situation through charts and
graphs, please contact CSCPA Public Affairs
Director Mark Zampino at 860-258-0212 or
The "Fixing Our Future" message also came to the January 21 Friday
Focus for Members in Industry.
Bringing Connecticut's Financial
Position Out of the Shadows
CSCPA President Marcia Marien of
Marien + Company, LLC
New Perspectives on the U.S. and
Connecticut Economies
Donald Klepper-Smith, Chief
Economist and Director of Research
for DataCore Partners, LLC
The January 21 Friday Focus for
Members in Industry kept CSCPA's
"Fixing Our Future" initiative rolling with
yet another presentation from CSCPA
Connecticut's financial statements and
an update on the state's economy from
economist Donald Klepper-Smith.
`This is not your father's
economic recovery'
Klepper-Smith, chief economist and
director of research for DataCore
Partners, LLC, told the Friday Focus
group that "Connecticut has actually
had job growth of about one half of
one percent, or 10,600 jobs ... and the
data show that corporate profits are
up 30 percent.
"But this is not your father's economic
recovery, because we don't see the job
growth we normally associate with eco-
nomic recovery. Tax income [to the
state] is not going to be coming back as
in previous recoveries ... nor are jobs.
"Structural change is undermining our
ability to recover, as we're all doing
more with less, so it's taking longer and
longer to get back the jobs we've lost...
today we're looking at `just-in-time'
employees, so we've seen a 26 per-
cent rise in temporary employees.
"The housing market has bottomed
out, but will come back in nickels and
dimes. The lending environment we
have right now, in a word, is `cautious.'
"We're doing what we can but we're
not being strategic about it, and if
we're not strategic and proactive
about our economic future, it can slip
through our hands," Klepper-Smith
warned the audience.
Fixing Our Future
Marien followed Klepper-Smith with a
reprise of the presentation she has
Connecticut during the past six months
(see related story on page 10).
Friday Focus Features `Fixing Our Future' and
the Latest Snapshot of Connecticut's Economy
(continued on next page)