Colorado's budget situation is "brutal," a legislator acknowledged, as policymakers began to grapple with the reality that they also have little time to act, given the enormity of the budget cuts that they will need to consider in the coming weeks.

"To put it simply, we’re broke," one think tank added on social media.

Already in motion is a request for state agencies to prepare for across-the-board spending reductions.

Legislative leaders reviewed just what they'll have to cut from the current year's budget in a hearing on Wednesday, when they heard from economists from the governor's Office of State Budgeting and Planning (OSPB) and the Legislative Council.

Weeks after the state closed out its books for fiscal year 2024-25, lawmakers need to find $955 million to cut in the current yea

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