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Study: Colorado government faces fiscal crisis

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posted on Jul, 7 2009 @ 11:27 AM
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Study: Colorado government faces fiscal crisis


www.bizjournals.com

A forthcoming report by a research center at the University of Denver says Colorado’s state government faces a looming financial crisis, DU said Monday.

The report from the Center for Colorado’s Economic Future at DU is titled “Colorado’s State Budget Tsunami.” It is to be formally released Tuesday.

(visit the link for the full news article)




posted on Jul, 7 2009 @ 11:27 AM
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More bad news unfortunately.

Now it seems that Colorado, and Americans living there are also going to be facing a fiscal crisis.

Here is what part of the report states.


• “The budgetary tsunami that washed over Colorado government last fall and winter was likely just the first wave. More tidal waves in [fiscal year] 2010-11 threaten to keep the general fund underwater and lawmakers struggling to find new lifelines.”

• “The largest departments of state government are growing more than twice as fast as tax dollars are coming in, leaving a lot less money available for other needs.”

• “Education, prisons and health care consumed about 54 cents of every general fund dollar a decade ago. They now eat up nearly 76 cents of every general fund dollar, and that figure will jump to 91 cents in five years if the average growth rate continues. Eventually, at this rate, there would be no money for other programs.”

• “There is little question the financial difficulties faced by Colorado’s state government during this decade’s two recessions will continue into the future. The problem is mathematical – there is simply not enough money to pay for the government we have created and the services many of us have come to expect.”

Center director Charles Brown co-authored the report with Jeffrey Roberts.

www.bizjournals.com...

Take note on the part about education, healthcare, and prisons.

If now that we don't have Socialized healthcare apparently the budget can't sustain healthcare among other things, can members imagine what will happen in order to keep the Obama administration plan for Socialized healthcare? Or is it possible i am wrong, and maybe the Obama administration has some seedlings that grow fast into money growing trees?


www.bizjournals.com
(visit the link for the full news article)



posted on Jul, 7 2009 @ 11:52 AM
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Well, this hits home! They recently reported a 250 million budget shortfall and our Democratically elected governor still seems to be spending Colorado to oblivion!



posted on Jul, 7 2009 @ 12:48 PM
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I'm in Colorado and I can tell you I was waiting for this.

We kept hearing how our state was financially okay, our state employment is okay, everything in Colorado is okay. If you have to say it so many times you're really saying we're doomed and putting a cherry on top.



posted on Jul, 7 2009 @ 12:51 PM
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One of the many reasons I left my native state. First the Californians, then the Democrats...and then the death of the wild west. The good news? Denver is supposedly the western hub of the NWO...they have to keep their new homeland functioning.



posted on Jul, 8 2009 @ 07:05 AM
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reply to post by lostviking
 



Yep, and unfortunately many other states will follow the economic doom of California, and now Colorado seems to be going towards to.

In my state, Wyoming, the governor was stating on the news that soon we might have to tighten our belts, and this state is one of the better equiped to deal with the economic crisis.



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