WCAX.COM Local Vermont News, Weather and Sports-Group Looks for Solutions to Vermont's Economic Troubles

Group Looks for Solutions to Vermont's Economic Troubles

St. Albans, Vermont - January 28, 2008

The economic state of the state had residents in St. Albans talking Monday night. Vermonters for Economic Health hosted its third forum Monday, hoping to educate the public and stimulate new ideas. The group is spearheaded by Tom Licata, a Burlington resident with ten years experience in the financial sector.

After years of compiling data about the economic health of Vermont, Licata says he's worried that no one is paying attention to a looming problem.

"If we don't change the status quo, in about 20 years we'll only have enough money for entitlements and the interest on our debt," Licata told the dozen-or-so people gathered in the library of St. Albans Town Educational Center.

Licata and his group are especially concerned about increasing expenses for things like transportation and taking care of an aging population.

"Basically when you get all done looking at it, it looks like we have a type of economic crisis coming up," says Paul Beaudry, a radio host who attended the Monday night forum.

Licata has been holding public forums across the state, sharing his data and sparking conversations about the best way to sustain the state's economic future.

"I think it's the need to create a good economic future for our children, to be able to sustain the things we want to do, to get the broader tax base and be able to keep the state healthy financially," said St. Albans resident Lynn Dickinson.

Creating more jobs is at the center of what Vermonters for Economic Health is all about. The group says private sector job growth is the key to keeping more young workers, which in turn will broaden the tax base and provide benefits for an aging population.

"I think we spend too much time debating whether income taxes are high enough or not and not enough time in creating wealth and jobs and opportunity for our people," said Licata.

The only way to create true change, says the group, is to form a legislature focused on the economy, and the only way to do that, says Licata, is to get more people to run for office.

Bianca Slota - WCAX News