State Capitol
Press Release
August 28, 2008
Statement by Governor Ted Kulongoski on September Forecast
(Salem) “ Oregon has held steady during the national economic uncertainty of the last several months, but as we saw with last month’s unemployment numbers, this quarter’s revenue forecast is a reminder that we are not insulated from national economic trends.
“As today’s numbers show, the uncertainty about our national economic health remains a threat to Oregon’s economic health.  Rising energy prices, increasing costs of health care, and instability in the housing market are impacting consumer confidence and putting pressure on both national and state economic growth.
“Oregon is still faring better than many states in the nation, but we must proceed with prudence and prepare ourselves for tough choices in the next budget cycle.
“As I have said before, I still believe Oregon has positioned itself to come through this economic downturn stronger than we entered because of critical investments we have made in education, living wage jobs, transportation infrastructure and building a solid reserve fund to provide fiscal stability for the future.
“While this economic slowdown is lasting longer than originally anticipated, we can and will get through this difficult period, as Oregonians always do, by working together and remaining committed to investing in our state’s greatest asset – our people.”
Anna Richter Taylor, 503-378-6169
Rem Nivens, 503-378-6496
Jillian Schoene, 503-378-5040

Page updated: August 28, 2008

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