On Tuesday, Gov. Ted Kulongoski advised legislative leaders, school superintendents and agency directors that state economists expect tax collections to be down significantly more than the $577 million shortfall projected in May.
(snippet)
"Unfortunately, it now appears that the ongoing effects of this recession will continue to undermine our budget," the governor wrote in a letter to his fellow Democratic leaders, Senate President Peter Courtney and House Speaker Dave Hunt.The warning comes nine days before state economist Tom Potiowsky is scheduled to deliver an updated economic forecast to lawmakers. But Potiowsky offered a disturbing preview of that talk in a memo to the governor obtained Tuesday by The Oregonian through a public records request.
"Many indicators, including housing starts, consumer spending, bank lending, job growth and others have been weaker than expected," Potiowsky wrote on Aug. 11. "Likewise for Oregon, the indication is that the recovery is weaker than our assessment in the last quarterly forecast."
More Here..
Riddle me this... Why is EVERY state's tax revenues down considerably more than reported retail sales?
ReplyDelete/Would the Ministry of Propaganda answer this, thanks...
4:44, that's a very pertinent observation. Occam's Razor would tell us that reported revenues by the MSM are purposely overstated to make it appear the economy is in better shape than it is. They wouldn't do that, would they? Not in America, America doesn't do things like that, does it?
ReplyDeleteAlso, when the going gets tough, the books get cooked. Accounting books are roasting at such a rate that we have now reached the tipping point in regards to global warming. You would need 1,000 corrupt SEC's to investigate and prosecute all the fraud that is taking place.
When California achieves the perfection of its vision, people won't need houses or clothing. The will be herded in vast naked mobs from field to field of corn and wheat where they will feed straight from the plants.
ReplyDeleteOut shephards will collect taxes in the form of human sacrifice and sex. Thinning the herd will solve any problem.
I wouldn't mind being one of the field planters but I want to keep my clothes. I will live in a tree.
News flash to 3:19...we are not a marxist communist country. Been drinking Republican kool-aid again? Convincing you of their bullshit is how Republicans keep their corporate masters happy. That's why so many stupid people vote against their own self interest.
ReplyDeleteSo we've had tax cuts for the rich for the last ten years. According to the trickle down theory of economics, the rich are supposed to use that extra money to help the American economy. So I'd like to know how them buying a bigger yacht is going to find you a job in whatever sorry state you live in?
5.37- Just like Woodstock 1967-more Porta-potties this time,though!
ReplyDeletePeople without jobs do not BUY or pay TAXES.
ReplyDeleteWeekly Jobless Claims Post Surprise Jump, Hit 500,000
http://www.cnbc.com/id/38768328
Where is the person who always posts here how great buying stock is?
It is not just California but ALL states that are being affected and the problem is the FEDERAL RESERVE and fiat money systems always cause recessions and depressions. Especially when they want them to happen.
The currencies that are staring to occur in many states is a real threat to the Federal Reserve. People might realize just how well they can do when free of the fiat money of the Federal Reserve.
When are these self-serving politicos going to to the right thing and give back some of the pay and benefits that the private sector has had to give up. The systematic tax extortion simply can no longer pay their wages. Cut 20% at the top and work down to 10% at the bottom. If they don't like it they can get a job in the private sector.
ReplyDeleteSharonsj - You and your leftist progressive DEMOCRATIC friends--led by Obozo--are the ones who are in the pockets of BIG Business and BIG Labor/Unions, and they are all part of the GIGANTIC secular socialist machine. They are leading this country on a path towards TOTAL political and economic destruction. The rising Conservative movement will stop them cold in their tracks and begin to clean up their god damn mess starting in November. Conservatives like myself will ensure that this country stays forever true to its founding principles as a constitutional republic. We will not let lefties like you and Obozo drive us towards a totalitarian socialist state.
ReplyDeleteOur economy has never been better than right now.
ReplyDeleteThese sure are the good old days.
ReplyDeleteServes Oregon right. In 2009 they passed a referendum to put a huge tax on "the rich". They predicted said tax would eliminate their deficit.
ReplyDeleteRetards. I hope they dumpster-dive for each and every meal. That is the fate of all socialists.
In Oregon every school has more teachers then they can use. For example a middle school might have 12 classrooms but will typically have 18 teachers working there. At any time during the day 6 teachers are on break or perhaps not even there. The solution is to fire the excess teachers. The actual teacher/student ratio won't change and the quality of education won't decrease. The cost will go down dramatically.
ReplyDelete4:44 - Unfortunately (or fortunately depending on your viewpoint), Oregon has no sales tax, so the riddle doesn't really apply.
ReplyDelete6:27 - If Conservative policies are going to save us, why is Texas (the bastion of Conservatism) in the same fiscal mess as California?
Geez people, it's amazing how many of you don't get it - the system is baked. Left/Right, Liberal/Conservative, it doesn't MATTER. Collectively, as a country, we've gutted ourselves and everyone (Republican and Democrat) has had a hand in it. If you would take off the political blinders, and looked at the data OBJECTIVELY, you would see it.