Report warns of Colorado budget tsunami
The Denver Post
The state’s budget, dominated by ever-increasing spending on schools, prisons and Medicaid, does not match up with its flagging revenues and is near the breaking point, according to a study released today by the University of Denver.
State lawmakers earlier this year had to fill a $1.4 billion hole in the state’s budget spread over two fiscal years, and they now are starting the current fiscal year with a $384 million deficit.
“The budgetary tsunami that washed over Colorado government last fall and winter was likely just the first wave,” the study said, projecting that spending for schools and Medicaid would grow even larger and threaten funding for higher education and other programs by 2011.
“Ultimately, it could mean more hikes in college tuition, deeper cuts in state government services or more fees to pay for them, or a ballot-box request for higher taxes.”
For more of this Denver Post story see: http://www.denverpost.com/ci_12769816
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