Oregon’s most recent economic and revenue projection for the current two-year budget cycle shows that the State will have $1.4 billion less resources than anticipated by the 2001 Legislative Assembly. The June forecast projects $506 million less resources this biennium than was anticipated in the March forecast. The picture for the next budget cycle looks gloomy, too. The June forecast projects $878 million less General Fund revenues than anticipated by the 2001 Legislative Assembly for the next (2003-05) biennium. Total resources for next biennium are projected to be $1.3 billion less than anticipated expenses.
