Oregon government stands at the edge of a financial chasm as precarious as any in its 151-year history, hemmed in by the global recession, questionable spending decisions and a budget-draining combo of skyrocketing expenses and sluggish growth.
Consider this sobering fact: State expenses, including payroll, health and retirement benefits, and debt payments, are slated to rise by nearly $4 billion over the next two years -- a 26 percent jump. During the same period, however, revenues to pay those expenses are expected to increase by a little less than $2 billion, or about 14 percent -- and that assumes a return to a robust economy.
Oregon simply can't keep up.
Lacking a substantial tax increase, which appears unlikely, the state won't have the money to offer the same level of services, pay and benefits to the same number of people.
Oregon. Funny, they passed that hefty tax increase on the rich last winter. I guess that didn't turn out as expected, ja?
ReplyDeleteWhat a bunch of phucking ar-tards. Why don't they just hold their breath and let the "green" economy save them?
HAHAHAHAHAHA.
I like all the spreadsheets these economist/forecaster types are using.
ReplyDelete"This assumes a "return to a robust economy"
Yeah, right. Like that's really gonna happen anytime soon. Not
Nothing new here, same ole same ole. The questions is: How many states are NOT bankrupt? North Dakota is the only one that comes to mind.
ReplyDeleteThey should have cut costs and the biggest costs are employees. The government is so bloated it wouldn't even miss a beat if they let ten percent go. The governor should have asked every department to give him a list of the least productive 10% in their department and then fire them. ODOT is so bloated you could let 50% go with absolutely no negative effect on their work (whatever that is).
ReplyDeleteHow does the government expect to get more tax revenue when they destroy everything with taxes to begin with? Taxes are a parasite, eventually you suck the citizenry dry.
ReplyDeleteThe bloated government needs to cut itself down, there is no reason it should ever have difficulty. The government never saves money for later, it just grows bigger and bigger every time.
Why don't they just hold their breath and let the "green" economy save them?
ReplyDeleteHAHAHAHAHAHA.
Vote for liberals and watch them blow money on useless crap like no tomorrow. Letting liberals be in charge of State budget is the same as shooting yourself in the foot then reeclect them shoot yourelf in the leg. LOL What a bunch of nutcases. from the article They boosted spending on schools, increased state police ranks to ensure 24-hour road coverage, greatly increased state subsidies of green energy projects and borrowed heavily to pay for millions of dollars in modernization projects on college and university campuses.
Hahaha more proof that liberals will kill this country.
Oregon, Detroit, California, Illinois... All are examples of failed Liberal policies. The powers that be are so blind they will not admit the policies of big government are failures. This is not an assertion these locals demonstrate the facts...
ReplyDelete5:33, I hear Iowa is in pretty good shape as well, but that could change too. I found it funny this past spring when AHnold was making fun of Iowa, but his state is broke off it's collective ass.
ReplyDeleteI don't know much about Iowa but I doubt you will have rioting in Watts and Compton in the cornbelt,LOL
When I retired from the fire service, one reason for leaving the state was how liberal it was becoming, due to so many incoming California residents moving in, and well, the liberal mindset of the Portland area. It is no surprise the state is running out of money, and I suspect they will continue to go in the hole as the DEPRESSION lengthens and deepens, along with most of the states. Hard times are acoming!
ReplyDeleteWhy do red states have the highest poverty and receive the most government money? http://farm3.static.flickr.com/2165/2994
ReplyDelete