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Politics : PRESIDENT GEORGE W. BUSH
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To: Kevin Rose who wrote (422047)7/2/2003 4:03:26 PM
From: tejek  Read Replies (1) of 769670
 
As I understand, Oregon is in the position it is in because of the massive loss of tax revenue caused by the downturn. They apparently do not have a sales tax, which is good for the citizens until something like this happens. I understand that a good number of school districts (about 30) had to close before their minimum 180 days of school because of no money. We in California are facing the same pain, with class sizes rising, programs cut, libraries closed, etc.


OR current fiscal is due to three important events. The tech recession has hurt state revenues significantly......tech had become a heavy source of tax revenue for the state in the past twenty years and when the industry went into recession so did the state. OR has some of the highest unemployment in the country.

In addition, during the 90s a fiscal conservative began to file initiatives that called for the reduction of several different state taxes in OR. Those initiatives were passed by the general population and resulted in a major cut in tax revenues.

However, gov't spending did not decline by the same amount and a shortfall developed in 2000, I believe. That shortfall has worsened with the current recession, necessitating the early closing of Portland schools in March.

While I am a proponent of fiscal conservatism, tax cuts must be met by a corresponding drop in gov't spending and the cuts need to be reasonable. That was not the case in OR and the state now is in a fiscal mess; a mess that may be soon emulated by the federal gov't.
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