No one knows for sure how America\u2019s economy will react to a drastic pullback on spending and employment because it hasn\u2019t been done for two generations.<\/p>\n
We urge caution as the White House rapidly cuts jobs and programs, but such prudence likely must come from Congress. After decades of being unable to cut the deficit and begin paying down the debt, now is the moment for Congress to rise to the occasion and replace the sledgehammer being wielded by the White House with something more artful, such as a ball pein.<\/p>\n
U.S. Senators Michael Bennet and John Hickenlooper \u2013 two long-time fiscal moderates with bipartisan credentials — should lead a charge. The likelihood of two Democrats succeeding when Republicans have the House and Senate is low, but it’s better than the alternative of crying about Elon Musk being unelected.<\/p>\n
Shutting down the U.S. government in protest of the cuts, will only make matters worse for federal employees and anyone in need of services from the U.S. government. Democrats who agree that the U.S. can’t sustain this level of spending and Republicans with concerns about the president’s approach can unite around legislation that begins the slow retraction of money from the U.S. economy.<\/p>\n
Bold, meaningful cuts are needed. But indiscriminate slashing that harms more Americans than it helps is a blatantly cruel and vengeful act by the Trump administration. Congress, which holds the purse strings, is at fault for not wielding its power.<\/p>\n
There are reasons to worry that President Donald Trump\u2019s rescission plans could hit Colorado hard in the coming months. There are about 57,000 federal workers in Colorado. Let’s assume the state’s strong job market could easily absorb 10% to 15% of those employees losing their jobs as long as things remain stable in other parts of our economy. Gov. Jared Polis issued a press release of support for laid-off workers<\/a>, outlining how they could file for the state\u2019s unemployment insurance to cover some of their lost wages while they look for another job. He also noted that the state has 60,000 job openings at the moment.<\/p>\n That won\u2019t work, however, if federal funding to states is also drastically slashed and the state finds itself cutting jobs and freezing hiring as well, or if tariffs impact businesses in the private sector and cause layoffs.<\/p>\n