Five years of high unemployment have driven another 216,000 Coloradans into such dire straits that they qualify for Medicaid, the government health insurance program for the poor.
That jump – to a total of 608,000 people in major financial trouble – has cost Colorado’s budget an extra $1.4 billion since 2007. The continuing rise in the cost of Medicaid is the main reason the governor proposed cutting school funding again this year.
Junk. Not a nice word. And when it comes to bonds, not a particularly accurate word, either. Junk is something useless, right? Something you want to toss in the trash? Well, “junk” bonds are definitely not useless. In fact they’re extremely useful. Sometimes. Marketplace Money Senior Producer Paddy Hirsch explains what a junk bond really is.