Gov. Hickenlooper is all over a Denver Post story about a recent Moody’s study that suggests numerous states including Colorado don’t have enough in the rainy-day fund to sustain another recession.
Hickenlooper gets credit for “trying” by increasing the fund since he took office, and credit for his plans to ask lawmakers to stuff even more money into the unused fund.
It’s just not his fault we are in this perceived mess, the story suggests.
This fund is what the state would use in case another recession hits to pay out benefits like Medicaid and unemployment. Moody’s isn’t predicting another recession, just suggesting that 34 states, including Colorado, save more.
There’s no need to panic, we have more than $600 million in the bank to make up for a shortfall. The savings account is a good idea, we just can’t lose sight of the fact there are other needs for funding in the state, like roads.