Another rating downgrade. The previous downgrade by Moody's was estimated to cost Vermonters an additional $7 million per year. How much will this one cost us?
This should serve as a large red flag that, while not a crisis-level change (we still have the second-highest rating available), we must focus on our long-term financial viability and overcoming our demographic challenges. We need people. People come here for job security and affordability balanced with quality of life. We have the last one down. Without the first two, however, access to that high quality of life starts to become a limited luxury.
"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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