To solve Colorado's budget crisis, think like a banker
My article in the Rocky Mountain Collegian today:
"The mood has turned sour at the Capitol in Denver over the past few months as our state government has faced an alarming shortfall in tax revenue. This has led the Colorado government to cut funding for the disabled, elderly, universities and even go so far as to release thousands of prisoners from our jails early.
Sadly, the traditional method of thinking about budgeting has led our leaders into the stale policy-making approach of cutting spending and raising taxes to try to fill the cancerous hole in our state's finances.
What's needed is a new and modern approach, and that's where America's indefatigably creative financial system can help.
When banks ran into trouble in 2007 and 2008, they didn't try to cut expenses as Colorado has done; instead they went to the government and demanded low-interest loans.
To get our own loan, we must concoct a big lie to prove our neediness... continued here.