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Originally Posted by The Dad Fisherman;1135767[B
The fastest shrinking states[/B]
4. Connecticut
•1-yr pop. growth rate: -0.23%
•Current population: 3.58 million
•2015 population: 3.58 million
•10-yr pop. growth rate: 1.68%
The population of Connecticut shrank by 0.2% in 2016, the fourth largest decline of any state. Connecticut’s population has declined substantially in recent years, and the state has lost a net total of approximately 20,000 residents since 2013. Many of those leaving Connecticut are young, college-educated professionals. Since 2010, the median age in Connecticut has risen from 40.0 years to 40.9 years.
The population loss has likely hurt the state’s economic potential. While the U.S. GDP grew by 12.1% from the second quarter of 2006 to the second quarter of 2016, Connecticut’s GDP fell by 3.7%, the largest contraction of any state over that time other than Nevada.
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CT is in the death spiral. Our population is shrinking as people don't want to pay current taxes. But current taxes aren't anywhere near enough to pay our debt (unfunded debt is now estimated at $35,000 for every human being in the state). So the state will raise taxes. Which will incentivize more people to leave, which will reduce our tax base. Which will force the state to raise taxes on the masochists still here, which will incentivize more to flee, which...
It's a self-perpetuating cycle of decreasing revenue and increasing expenses. They call that the death spiral. in the private sector Very difficult to escape from.
CT has so much going for it. To be one of the few states losing population? That's what "failure" looks like.