Wednesday, October 13, 2010

Tancredo Calls Out Hickenlooper for Plan to “Borrow” from State Retirement Fund

Tancredo: “This is Hickenlooper’s idea of fiscal responsibility?”

GREENWOOD VILLAGE, CO—Gubernatorial candidate Tom Tancredo today slammed Denver Mayor John Hickenlooper for his plan to use state workers’ retirement fund dollars for a new business loan program.

“Democrats in Denver have already rung up a $1 billion budget gap because they refused to cut spending,” said Tancredo. “Now Mayor Hickenlooper wants to double down on a bad bet by ‘borrowing’ money from a state pension system that the legislature just had to bail out? This is Hickenlooper’s idea of fiscal responsibility?”

The state legislature this year had to pass a $30 billion fix to the state retirement fund, the Public Employees’ Retirement Association (PERA), to keep it from going bankrupt.

“How many more billions of dollars are John Hickenlooper and Nancy Pelosi and Barack Obama going to ‘borrow’ from us and future generations to waste on more government ‘job creation’ programs that don't create any jobs?” added Tancredo. “If we really want to create jobs, we need to stop raising taxes, stop runaway entitlement spending, cut job-killing business regulations, and help protect employers from junk lawsuits.”