Senator Ferrioli: Revenue down another quarter billion

STATEMENT FROM SENATOR TED FERRIOLI REGARDING DECEMBER REVENUE FORECAST
State Senator Ted Ferrioli,

Salem, OR – The state economist announced Friday that state revenue projections are down $1.049 billion for General Fund and Lottery Fund resources since the close of the 2009 legislative session, and projections for the 20011-13 have declined another $272 million. Senate Republican Leader Ted Ferrioli (R-John Day), issued the following statement:

“A jobs problem for Oregonians means a revenue problem for state government. Today’s revenue forecast shows that government will have less to spend in the coming years because too many Oregonians are out of a job. Legislatures of the past have increased spending through higher taxes, borrowing and one-time federal funding. Such a pattern is unsustainable. This legislative session must make a course correction by cutting spending and reforming the way we budget. Most importantly, this legislative session must provide the economic leadership the state has been lacking so Oregonians can get back to work, and keep more of what they earn.”
The entire state revenue forecast can be viewed at http://www.oregon.gov/DAS/OEA/economic.shtml#Most_Recent_Forecast

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