Colorado Budget Forecast Shows $240 Million Shortfall (WATCH)

Update: Watch Governor Ritter's Press Conference On The Budget Announcement, courtesy of State Bill Colorado

At a press conference held after Monday's budget announcement, Governor Ritter ruled out tax increases to balance the budget: "while we are in this downturn, we are not entertaining tax increases."

DENVER (AP) - Colorado lawmakers are warning that state government may have to raise fees and taxes and eliminate some tax breaks because of more grim news on state revenues.

New figures released Monday show the Legislature may have to cut another $240 million on top of the $318 million already slashed by Gov. Bill Ritter.

Budget analysts told the Legislature's Joint Budget Committee that consumers are spending less, commercial real estate values are down and more people are out of work because of the recession.

Comments

[Nicon]

06:08 PM on 09/21/2009

SO i can solve this problem without loosing any services, or raising anyone's taxes.

Marijuana!

That's right, i said pot. Colorado is a Medical Marijuana state, the people have spoken, they want instate residents with a medical marijuana card issued from the state to be able to use marijuana.
The answer to our states money problems comes in the form of dispensaries. These shops that buy up marijuana from legal medical growers, then sell it to other legal medical marijuana card holders who are either unable or unwilling to grow their own. Right now in Colorado there are many dispensaries open for biz, but the state is pretending as though they do not exist. Fixing the law so that it works for sick people rather than the drug warier will bring in more than enough money.