Originally published Wednesday, November 19, 2008 at 12:00 AM
PrintOre. facing big revenue drop
SALEM, Ore. — Oregon state government is facing an immediate $140 million shortfall that is prompting Gov. Ted Kulongoski to order across-the-board cuts in state agency spending. Today's development comes in the wake of the state's new revenue forecast that also predicts the state will be more than $1 billion short of the amount needed to maintain current services through 2011.
SALEM, Ore. — Oregon state government is facing an immediate $140 million shortfall that is prompting Gov. Ted Kulongoski to order across-the-board cuts in state agency spending.
Today's development comes in the wake of the state's new revenue forecast that also predicts the state will be more than $1 billion short of the amount needed to maintain current services through 2011.
State Economist Tom Potiowsky delivered the grim news to lawmakers today, saying that Oregon's economy could well get worse in the coming months before any recovery begins.
In response, Kulongoski used his executive authority to order agencies to make cuts that will translate to about 1.2 percent of each agency's budget.
Copyright © 2008 The Seattle Times Company
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