Mark Hillman writes, “The legislature has never established a ‘rainy day fund’ to help offset budget cuts in hard times, making Colorado the only state without a permanent budget savings account.”
This is tricky, because I don’t love the idea of government setting up investment accounts, which are inherently political. Tentatively, I’d rather have an emergency tax-hike provision, but I think that would be prone to abuse.
Tags: colorado, government