Thursday, February 5, 2009

State Stimulus Package is Done

The Oregonian is reporting that Governor Kulongoski has signed the $175 million state public works spending bill into law.  Given that the state GDP is in the range of $150 to $160 billion, this is not going to do much to stimulate the state economy on its own (but then again nor will it be a big burden when the bill comes due).  But coupled with federal fiscal stimulus, its marginal impact will hopefully be greater.  

What is striking is how quickly this got done, if only our federal government was so efficient...

3 comments:

Kevin Spence said...

I guess efficiency is improved when the state has no functioning opposition party. While efficiency may be good in this scenario, One-party rule is generally a bad thing.

Patrick Emerson said...

Point taken, but I'd take the republican idea too. What I think is either do stimulus now or not at all, and I prefer doing something to nothing.

Dann Cutter said...

My concern in the state is that, thus far, I think the wage freezes and furloughs probable for state workers combined with the significant spending CUTs and pullback coming out of the legislature for state agencies will weaken or defeat the that stimulus package effect pretty swiftly in Oregon.

The cuts thus far county wide are already having pretty significant effects, and the portion we got from this stimulus funding, nice though it is, will hardly replace the 19 jobs lost in public health alone, let alone the school cutbacks to come.