Will Coloradans see cheaper chicken at the grocery store? All signs are pointing to ‘Yes!' along with a stronger economy.
Rocky Mountain Values and partner organizations today are highlighting major economic indicators that Coloradans can feel optimistic about while acknowledging the critical policies that helped lead to this good news, including lower cost for chicken at the grocery store.
Three major economic indicators have been recently reported that have us optimistic about 2024:
Jobs: Last week, the Department of Labor released a jobs report indicating a gain of 353,000 jobs in January 2024. NPR also reported that more people are joining the workforce, demand for workers is strong, and wages have risen over the last year.
Consumers: The week before, a survey showed a surge in consumer confidence with the Wall Street Journal reporting, “Americans Are Suddenly Upbeat About Economy. Sentiment Just Logged Its Biggest Jump in Decades.” It’s no wonder with gas prices at $2.73 in Colorado.
Interest Rates: Last week, it was also reported that the continuously decreasing inflation rate is encouraging the Fed to consider lowering the interest rates in 2024 but Fed Chair Jerome Powell said they want “more confidence that inflation is surely defeated.”
Economic policies like the Inflation Reduction Act, CHIPS and Science Act, and Infrastructure Investment and Jobs Act directly impact the U.S. economic outlook and boost states’ economies. These laws have lowered costs for hard-working Coloradans like prescriptions and healthcare, reinvigorated manufacturing with more than $7 billion in private investment, and spurred $6 billion in public infrastructure and clean energy investments in Colorado communities.
Notably, all of Colorado’s Democratic congressional members supported these major economic policies that are saving Coloradans money and are set to open up more opportunities across the state for years to come. All of Colorado’s Republican members opposed these laws.
Here is what organizations who are fighting to expand economic opportunities in Colorado had to say:
“These economic reports are welcome harbingers of a year of growth and prosperity for Colorado’s workers. The federal investments in our local economies paired with cost cuts for families, including gas and groceries, are the type of policies we need Washington to continue to deliver for hardworking folks. We thank the Democratic members of Colorado’s delegation who voted in support of these policies. -Hilary Glasgow, Executive Director of COLORADO WINS
“For Coloradans on Medicare who had been paying tens of thousands of dollars for their prescription drugs, especially those with chronic illness and cancer, Medicare now has the power to negotiate lower prices for prescription drugs, bringing down costs. These are critical policies that meet the needs of Coloradans. But Colorado Republicans opposed allowing Medicare to negotiate lower drug prices and continue to target this benefit with cuts.” -Rob Davidson MD, Executive Director of Committee to Protect Health Care
“Most members of Colorado’s congressional delegation supported the passage of critical policies that are helping to ease economic challenges and lower costs. But it was Rep. Boebert and her GOP counterparts here in Colorado who opposed this legislation, only to vote for the Default on America Act, which would have taken away critical investments from the middle class, like restricting access to affordable healthcare centers, cutting rental assistance, and halting new job creation. These are the wrong priorities for Colorado. -Sara Loflin, Executive Director of ProgressNow Colorado
“It is clear that common sense policies have had a real impact on Coloradans’ ability to live happier, healthier lives, and will continue to keep our state moving forward. Instead of supporting these efforts that save people money, invest in our communities, and strengthen Medicare, Lauren Boebert and all of Colorado’s Republican congressional delegation have been swirling in the chaos of failed House leadership.” - Justin Lamorte, Executive Director of Rocky Mountain Values
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