Colorado's fiscal problems have been severe and are likely to continue
In a time of great fiscal stress for states, Colorado has been depicted in some quarters as an oasis of sound budgeting and fiscal stability. In a recent nationally broadcast radio interview, White House advisor Karl Rove said: “Take the state of Colorado, for example. Its finances are in good shape.”2 Columnist George Will recently described Colorado’s fiscal problems as “much milder than most.”3 The Wall Street Journal’s editorial pages have repeatedly praised Colorado and cited it as a good model for other states and for the federal government.
In fact, Colorado’s economy and its finances over the last two years have been at least as rocky — often more so — than those in other states.
Released March 17, 2004