Monday, August 29, 2011

Oregon State Revenue Reduced by $200 Million - Economy starting to decline?

To all COLA LO Members and Friends,

no Kicker in this "recovery?"
The Oregon state economist reduced his forecast of revenue by $200 million for the next biennium.    The revision is the first of the next budget cycle and shows that Oregon's economy is beginning to trend downward again although the economist attributes the revision to pessimism by businesses.

measure 66/67 did not solve the issue more people/businesses
just left Oregon for Washington.
 This may be the first sign that Oregon is heading back toward recessionary territory and reducing the tax revenue at the State level.    It provides a potential early indicator of budget issues at the state level and possibly the local level here in Lake Oswego.    LOSD is dependent upon State revenue for its funding and last year asked the city to provide $ 2 million in supplemental funding.

What is the next solution to this economic adjustment? 

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