What does this mean for the future? As one economist put it:
"That puts Oregon in a challenging economic position for the next couple of decades. Families and businesses can choose Washington, with similar amenities, but without the legacy costs of an ill-devised pension system ... Washington will be able to offer better public services at all levels of government."
True. And Idaho and Nevada and Montana and ... In other words, we just became an economic backwater. Again.
How bad is it? Not good. There has been lots of happy talk from the usual suspects these last few years that we don't need no stinkin' cuts because the stock market (which we hate) has grown and will cover the deficit. Nice try but wrong to the tune of - $14 BILLION. That's a minus sign not a dash in front of the dollar sign sports fans.
So here we go hippity hop down the same trail as California. This is not going to end well. Idaho is looking better and better for retirement.
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