Members of the Joint House and Senate Revenue Committee sat around at the Capitol last week listening to what has been a customary quarterly episode — hearing projections that state general funds and lottery dollars are dropping as Oregon continues to tumble along near the bottom of a recession.
Acting State Economist Mark McMullen told legislators revenue had dropped another $106 million. That puts the total projected revenue loss since the end of the 2011 legislative session at about $300 million.
Reaction to the latest revenue forecast was mixed. Here is a sampler:
House Co-Speaker Arnie Roblan, D-Coos Bay: The budget choices in February 2012 are even more difficult after today’s forecast, but our priority must be protecting the middle class while being mindful that further job losses will only cause additional economic harm. We must be creative, compassionate and smart to achieve outcomes that protect services Oregonians depend on in this tough budget environment.