Friday, March 20, 2009

Budget Outlook Bad for Colorado

Colorado's budget woes are even greater than the $600 million shortfall legislators had initially uncovered. The state's Legislative Council informed the Joint Budget Committee that Colorado's budget deficit for the fiscal year ending in June would increase by another $207.5 million. If the next budget year, starting in July, is included, this means that the state now faces a $1.4 billion shortfall. More discouraging news about the Colorado economy is that the state lost 48,000 jobs, or 2.3 percent of its workforce, between August and January. Read the Denver Post article here.

See the Colorado government's website for more about Colorado's economic downturn:

Refer to our guide for additional resources on Colorado State government.

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