Gov. Dannel P. Malloy has led Connecticut through difficult times. His announcement Thursday that he would not seek a third term was no surprise. He has worked hard, but the state’s continuing fiscal problems, its slow economic growth, and the political capital Malloy expended on controversial initiatives left him with dismal approval ratings and no reasonable re-election path.

In winning in 2010, the former Stamford mayor inherited a state in serious fiscal distress and a political establishment in denial. The legislature had borrowed heavily to maintain normal operations, papering over the seriousness of the situation.

To his credit, Malloy brought a realistic approach, calling for “shared sacrifice” with a combination of tax increases and budget cuts to try to rebalance the budget. He obtained substantial labor concessions, including long-term pension cuts.

His mistake, however, was not using the inherited crisis to demand even deeper spending reductions and structural changes. Malloy bet that the economy would begin humming, generating tax revenues and providing enough lift to restore state fiscal health.

Instead, the economy remained relatively stagnant and the popularity-draining fiscal problems have dragged on into a second term.

Malloy showed steady leadership in dealing with disasters, including the freak October 2011 early-season snowstorm that left communities without power for days and Super Storm Sandy that devastated coastal areas a year later.

In December 2012, Malloy faced his most gut-wrenching tragedy, having to inform the parents of Sandy Hook Elementary School first-graders that a mentally disturbed gunman had killed their children, a massacre in which 20 children and six educators died.

In the wake of that attack Malloy successfully pushed for enactment of some of the country’s toughest gun control laws. It was the right move, but Second Amendment advocates are passionate in their defense of gun rights and Malloy earned their permanent enmity.

In seeking enactment of laws to give young criminals a second chance at building productive lives, in boosting the minimum wage, and when accepting Syrian refugees, Malloy repeatedly showed a willingness to take the politically unpopular path.

His administration had some success improving public education in Connecticut’s urban centers, but teacher evaluations have stalled in the face of labor opposition. Finding a fair way to fund education remains elusive.

If Malloy over his last 20 months pushes the legislature to make the tough fiscal decisions necessary, he could make life easier for his successor. That is the nature, and irony, of governance in our democracy.