Oregon economy on the mend, but outlook is pessimistic

| Print |  Email
Must Reads
Wednesday, August 29, 2012

Oregon's tax revenues are $80 million ahead of projections for the current two-year budget, but economists say the outlook for the next two years is more pessimistic. 

“We’re still in pretty good shape,” [state economist Mark McMullen] said during the state’s quarterly economic and revenue forecast. “We expect a little more revenue than we did three months ago. However, over time, the slower-growth forecast does more and more damage to the state budget.”

“The good news is today’s forecast means we won’t have to make cuts in this current biennium’s budget,” Senate President Peter Courtney, D-Salem, said in a statement. “As school kids prepare to return to classes next month, it’s good to know that the doors of our schools can stay open and that we won’t be forced to close prisons or cut services for seniors.

“Looking ahead to next session, today’s forecast makes it clear the coming biennium will present a whole new set of challenges. Our economy and revenue are growing, but not strong enough to keep up with our commitments. In 2013, it will be critical that we prioritize the things that are most important to Oregonians – educating our children and providing healthy and safe communities.”

Read more at The Statesman Journal.

{biztweet}oregon economy{/biztweet}

 

More Articles

Leading with the right brain

News
Tuesday, December 09, 2014
120914-manderson-thumbBY LINDA BAKER

On the eve of the Portland Ad Federation's Rosey Awards, Matt Anderson, CEO of Struck, talks about the transition from creative director to CEO, the Portland talent pool and whether data is the new black in the creative services sector.


Read more...

Shuffling the Deck

November/December 2014
Wednesday, October 22, 2014
BY JON BELL

Oregon tribes still bet on casinos.


Read more...

The short list: Holiday habits of six Oregon CEOs

The Latest
Thursday, December 11, 2014
121214-xmaslist1BY JACOB PALMER | OB DIGITAL NEWS EDITOR

We ask business and nonprofit leaders how they survive the season.


Read more...

Corner Office: Marv LaPorte

January-Powerbook 2015
Saturday, December 13, 2014

The president of LaPorte & Associates lets us in on his day-to-day life.


Read more...

Fly Zone

November/December 2014
Wednesday, October 22, 2014
BY JOE ROJAS-BURKE

The black soldier fly’s larvae are among the most ravenous and least picky eaters on earth.


Read more...

The clean fuels opportunity

News
Monday, November 10, 2014
111014-dirtyfuel-thumbBY KIM MOORE | OB RESEARCH EDITOR

A market for low-carbon transportation fuels has a chance to flourish in Oregon if regulators adopt the second phase of the state’s Clean Fuels Program.


Read more...

Corner Office: Timothy Mitchell

January-Powerbook 2015
Saturday, December 13, 2014

A look-in on the life of Norris & Stevens' president.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS