More signs that the economy is in trouble come this time from Windsor, where Kodak has laid off 300 workers, according to the Denver Business Journal. At its 1980’s peak, the photography company with arguably the most household name employed 3,200 workers in its Colorado division, according to Fort Collins’ Coloradoan.
The news spread as President Barack Obama sold his $3.6 trillion budget, which, he says, is “inseparable from this recovery,” (via The Washington Post, which has video). Obama’s $787 billion economic recovery package is, of course, part of that effort, including $50 billion for renewable energy programs–a portion of which is expected to trickle into Colorado, writes Forbes. That seems to be good news for companies like Ascent Solar Technologies Inc., which is expanding in the state, according to Semiconductor Today.
Still, all the federal spending has some economists very worried. The nation went from surpluses under President Bill Clinton to supporting huge tax cuts and pricey entitlement programs under President George W. Bush, as Frontline reports. So where is the money coming from? America is borrowing it and seems destined to hit a breaking point.