I don't think you fully appreciate just how difficult space travel is, especially the kind of space travel where you found a colony that will sustain itself
after the Earth is hit by an asteroid. The required scale of technology/economy comfortably puts it in "at least several centuries from now, if we're incredibly lucky and/or devoted".
In this regard, the comment about CO2 is actually much more pertinent than it seems at first. If we manage to screw up the climate in this century (which seems very likely these days), inundating every coastal cities in the world, "sustainable space colony" will have to wait a bit longer. Much longer. If you're worried that an asteroid might hit us 500 years from now, you might want to rethink your priority.
Advancing chemical rockets now is important, but compared to the scale of space colony, it feels somewhat like producing better vacuum tubes to make sure (say) the US is the first to create strong AI. Any sane 50s US leader would have understood that "trying not to have a nuclear war with Soviet" is a much more important goal anyway: you can't fund AI research if your country is a radioactive wasteland.