Household debt is on the rise nationwide, but without detailed state-level data, it’s difficult to create fair, equitable lending policies that truly meet Coloradans’ needs.
A state budget out of balance by $783 million is drawing lawmakers back to the Capitol at the end of August, tasking them with rebalancing a state budget out of whack because of federal H.R.1.
Federal lawmakers have cut critical supports to pay for tax cuts for the wealthy and corporations. See where the greatest concentration of usage of federal benefits were slashed.
As federal and state budget cuts loom, maintaining and building upon the progress Colorado has made to support older adults will require more intentionality and dedication to creating an inclusive state where everyone has the ability to age in the way they’d prefer.
The Colorado state government receives a significant amount of federal money. The proposed federal budget cuts of up to $1.5 trillion over the next 10 years would inevitably have massive impacts in our state.
Colorado’s financial progress is being jeopardized by new, unregulated high-cost loans, where individuals get short-term, small-dollar advances, borrowing against their future paycheck and leading to cycles of debt.
Limited funds. Many competing priorities. There are no good choices when proposing a budget that requires recession-level cuts to state services. An investment in one government service means a reduction elsewhere.
The reasons for Colorado’s budget crises are multifold. Yet, an undeniably significant portion of our challenges stem from growing Medicaid costs, particularly those attributable to a rapidly growing population of aging Coloradans.
The September revenue forecast shows an increasingly constrained fiscal situation for the state of Colorado. Lawmakers will face a $921 million dollar difference between projected expenses and allowable revenue.
