“Oregon's economy continued to slump in April, having most likely slipped into a recession in March, according to the University of Oregon Index of Economic Indicators.
“Six of the indicators' eight measurements declined in April, and the overall index dropped 0.9 percent for the month. The only measures that improved were the interest-rate spread and manufacturing orders. The measures that worsened were unemployment claims, residential building permits, employment advertising, the weight-mile tax, nonfarm payrolls and consumer confidence.
“UO economists said in their report that with payrolls declining for two consecutive months, Oregon likely tipped into a recession in March. If so, expect to see additional job declines in the months ahead. The economy might improve by the end of this year, but the job market could remain weak for a protracted period, similar to 2001-03.” (Economic Data Indicate State Likely Has Fallen Into Recession, Statesman Journal, Don Currie, 6/5/2008)
Governor Also Proclaimed “Right Track” Economy in March
“I believe that Oregon’s economy is on the right track.” (Gov. Ted Kulongoski quoted in Governor Optimistic About Economy, Sarah Skidmore, The Associated Press, 3/22/2008)
In Response to a Stagnant Economic Forecast, House Democrats ‘Pat Themselves on the Back’ for ‘Prudent Fiscal Stewardship’…
“Democrats, who are in charge in both the state House and Senate, as well as in the governor’s office, hailed Thursday’s pronouncements. They patted themselves on the back for what Rep. Phil Barnhart of Eugene called prudent fiscal stewardship and economic diversification, which, he said, has helped Oregon escape the pitfalls of other states.” (Oregon Revenue Forecast: State Income Steady, Kickers Not in the Cards, The Associated Press, Julia Silverman, 5/29/2009)
…While Campaigning for Higher Taxes and Increased Spending.
“We need a three-fifths majority in the Oregon Legislature to take us to the next level.” (House Majority Leader Dave Hunt quoted in The Democratic Machine Re-Assembles for Fall, Jeff Mapes, Mapes on Politics, OregonLive 5/22/2008)
House Republicans: Slow Economy Not Acceptable…
“House Republican Leader Bruce Hanna of Roseburg said state government should be generating more savings, including a 5-percent cut in agency budgets and cancellation or reduction of manager-pay increases ordered last fall by Gov. Ted Kulongoski. 'We are not satisfied with an economy that has little or no job growth,' said Hanna, whose party is fighting to regain the majority it lost in 2006.” (Forecast: No Kicker in' 09, But No Budget Cuts Either, Statesman Journal, Peter Wong, 5/30/2008)
…Preparing Economic Growth Package for 2009
“Republicans are preparing legislation to provide greater fairness to Oregon’s working families and encourage more capital investment in our state.” (News Release: Slow Economic Growth Unacceptable, House Republican Office, 5/29/2008)
