Economists Sound Alarm: Colorado Faces Sluggish Growth, Shrinking Revenues
By Marianne Goodland | Colorado Politics
Colorado's economic outlook is on a downward trend, according to state economists, who estimated that the chances of a recession here have risen to 50%.
"Uncertainty is the key aspect impacting the economy now and moving forward," said Legislative Council Chief Economist Elizabeth Ramey, who discussed the June revenue forecast with the Joint Budget Committee on Wednesday.
The Office of State Planning and Budgeting (OSPB) is also less than optimistic about the economic outlook, should a federal budget bill pass, predicting it could affect 100,000 people on Medicaid and SNAP, devastate the state's rural and safety net hospitals and nearly wipe out the state's general fund reserve over the next two years.
Uncertainty is also the watchword f...