The Denver Post recently reported that “Colorado’s budget shortfall has grown another $40 million, reaching a projected $600.6 million for the fiscal year that ends in June.” This is due in large part to declining tax revenues as a result of bad economic conditions.
To make matters worse, in the upcoming fiscal year — which starts in August — the budget shortfall is expected to be $1.5 billion.
To put those numbers into perspective, the state's operating budget for fiscal 2009-10 is just about $19 billion.
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