January 26, 2012
Colorado Treasurer Walker Stapleton told a Craig and Moffat County audience Saturday night that if the state does not amend a guaranteed 8-percent return on employee pension investments, taxpayers could end up paying for state employee retirement.
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Walker Stapleton, Colorado treasurer, addressed a Craig and Moffat County audience Saturday night as keynote speaker during the local Republican Party’s Lincoln Day Dinner. In addition to explaining his position, which he said first and foremost involves investing taxpayer money for the benefit of the state, Stapleton outlined looming issues facing Colorado’s $18 billion budget. The two primary concerns, Stapleton said, involve automatic spending ratchets and pension entitlements, which have hindered the legislature’s flexibility on how it funds state programs. Those automatic spending ratchets, particularly concerning education and Medicaid, soak up more than three-fourths of the state’s budget, leaving little left to spread among programs such as roads, infrastructure, mental health services and corrections, he said.