Vermont State Treasurer Beth Pearce says the new S&P Global Rating outlook for Vermont, which moved from "stable" to "negative" this week, was another wake-up call for state policy makers.
"This won’t mean higher interest rates on Vermont’s growing debt - yet. But it’s a shot across the bow and we need more workers to replace retirees, Pearce says. Housing, daycare, benefits - Vermont needs to do better to improve its situation. Pearce will issue a report with recommendations January 15. At least 17 states have seen their bond ratings or outlooks decline since the start of the pandemic, but Pearce said in Vermont's case the factors driving the concern are its aging population, low birth rates and growing state pension and health care liabilities."
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