Thread: #coleg's Joint Budget Committee is seeing the consequences of the sad withering of #Colorado's once dynamic economic model. #copolitics @coloradobrt @DenChamber @ColoradoChamber @TeacherPension @biggsag
As fewer people are equipped to compete in the 21st century economy, social safety net spending is skyrocketing. And with PERA only 41% funded (per the Fed), more pension crises are on the way when the economy and markets inevitably turn down...
This will leave even less money for funding @CoHigherEd, which further weakens the state's human capital development system. It also leaves less money for desperately needed infrastructure investments, which increases business costs and discourages talent from moving here...
By now, too many people know how bad the traffic is when you are trying to "enjoy the #Colorado lifestyle." Plus, bad schools aren't a big draw for tech companies, whose employees have kids and understand how competitive the talent game is today...
Then there is the #progressive war on #Colorado's oil and gas industry, which is further cutting into state revenues. But unlike #California, we don't have large tech and entertainment industries to replace the revenue that will be lost...
Finally, the rising number of people using the social safety net means the votes will eventually be there to overthrow TABOR and sharply increase #Colorado's taxes, thus further weakening the economy when govt charges more but keeps delivering the same or worse results.
It's not clear how many #copolitics voters understand these dynamics and the ugly future that lies ahead. Not sure how many #coleg members grasp them either. But even if they do, the #progressive leaders who control state govt seem unwilling to change the path we're on.
