Too few workers, too many old people! Demographics and "state's fundamental economic trajectory" cause of latest bond downgrade for State of Vermont. Immediate result of bond downgrades means paying higher interest on debt. Gov. Scott, Treasurer Pearce respond to downgrade in statement published in VT Biz.
"“The report underscores, once again, the State’s demographic challenges as a deciding factor. The AA+ rating ‘is sensitive to changes in the State’s fundamental economic growth trajectory,’ according to the report. It also notes: ‘Material and sustained improvement in the State’s demographic profile, such as through consistent population and labor force gains, could support revenue growth prospects and a more robust revenue framework assessment.’"
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