Can a New Commission Rescue Us From the "Budget Tsunami"?

July 7 2009, 11:02 AM

The nonpartisan Center for Colorado's Economic Future at the University of Denver has officially released a report telling Colorado's leaders that the state faces a "budget tsunami." "There is simply not enough money to pay for the government we have created. Barring a quick and dramatic turnaround of the economy, it appears that the current fiscal system cannot be sustained," the report states (via the Denver Business Journal). The big items--education, prisons, and Medicaid--are zapping the state's revenues, and the report warns that it is "time to take a critical look at where we are and start the process of a much-needed overhaul." Even cities are struggling. In Fort Collins, officials are considering cuts from every service, according to the Coloradoan. In tiny Rifle, officials are also slashing budgets, writes the Glenwood Springs Post Independent. Maybe the newly formed, 16-member Long-Term Fiscal Stability Commission, which will meet in the basement of the state Capitol on Wednesday, will help. Members of the commission come from the political right and left, and include lawmakers and citizens such as Renny Fagan, director of the Colorado Nonprofit Association, and Amy Oliver, a conservative radio host, The Denver Post reports.