Lawmakers received good news about the state's economy on Monday as economists from the legislature and the governor's office presented positive forecasts to the Joint Budget Committee (JBC).
Colorado's economy continues to outperform the national economy as we experience a growth in jobs, an improving housing market and increasing retail sales, especially automobiles. It is "among the most vibrant in the nation," according to the Legislative Council Staff.
Lawmakers received good news on the economic and budget fronts this morning.
State economists now estimate that the Colorado economy will continue to grow, albeit slowly, and generate enough revenue to maintain a balanced General Fund budget this year and next. This is a change from recent years, when the legislature and governor faced declining revenues and the need to make budget cuts.
Apologies to Neil Diamond, but I couldn’t help but think of his “traveling salvation show” when President Barack Obama came to town last week.He was here to spread the word. His scary sermons of a potential economic “catastrophe” evaporated as quickly as your 401(k) once he landed here. This was the Obama who preaches hope, not fear. With a $787 billion economic stimulus bill in his pocket, he promised we were at “the beginning of the end” of our nation’s dark hours.
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