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A New Low for the State Budget

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Ritter, BillThe state of Colorado’s budget shortfall is still growing. Add another $40 million to it, bringing the tally to more than $600 million for the fiscal year that ends in June, according to The Denver Post. Though the state economy is showing signs of recovery, The Durango Herald notes that one in 20 Colorado jobs has disappeared, and employment isn’t likely to recover to pre-recession levels until after 2012. Still, a deficit is a deficit, and the state will need to reduce spending in order to balance the budget, despite the roughly $560 million in cuts that were already made for the fiscal year ending on June 30, reports the Denver Business Journal. Governor Bill Ritter is expected to come up with a plan to address the situation. “We have more tough choices to make, choices that may be unpopular, but choices that are necessary to lead us to a strong and sustainable recovery,” the Democrat says in a statement.

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