Connecticut Gov. Dannel Malloy on Wednesday proposed a $18.27 billion general fund budget for fiscal 2012 that doesn’t borrow for operating expenses and would reduce a planned deficit borrowing in the current fiscal year. 

“We borrow not one penny for operating expenses,” Malloy said in a speech before the General Assembly. “Too much borrowing over the years for ongoing expenses is one of the reasons we’re in the bad shape we’re in.”

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