Colorado governor to announce more budget cuts
DENVER (AP) – Gov. Bill Ritter is set to announce another round of budget cuts on Monday as part of the state’s continuing fiscal emergency.
The fiscal emergency gives Ritter the power to cut up to $75 million from this year’s $18.2 billion budget after the state failed to meet a 2 percent reserve requirement.
Budget analysts have warned lawmakers more banks are expected to fail this year and the economy will continue to falter because of continuing problems with the construction, real estate, banking and financial industries.
Lawmakers expect Ritter to extend cuts he already has made. The cuts made to this year’s budget included education and delays for some nonessential state programs.
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