Governor Calls For Cuts To Balance Budget

DENVER-Gov. Bill Owens is calling off all new state building projects because the state is facing the worst shortfall since the oil-bust days of the mid-1980s. Colorado faces a $260-million shortfall, the biggest in 15 years.

While projects that already have the green light probably won’t be on the chopping block, those that are still on the drawing board likely will.

It likely will mean scrapping a lot of new buildings planned on the campuses of colleges and universities throughout the state.

Republicans are blaming the Sept. 11 terrorist attacks and the voter-approved Amendment 23, which guaranteed an increase in school funding.

Democrats, however, blame the grim economic forecast on the Republican governor’s $400-million tax refund he pushed through last year, as well as his borrowing plan for major road projects.