In its quarterly meeting this morning, the state Economic and Revenue Forecast Council (ERFC) approved revised forecasts of general fund revenue for the 2009-11 and 2011-13 biennia. Meeting documents are available here.
Last Friday, the Economic and Revenue Forecast Council (EFRC) posted its monthly progress report, the Economic and Revenue Update, for June. The update sets the stage for Thursday, when EFRC will issue its quarterly update to the state revenue forecast.
The U.S. economy has performed largely as anticipated in the February forecast,
The Seattle Times draws on Scott Rasmussen's speech at the Research Council dinner for this excellent editorial.
"People don't trust government projections," Rasmussen said. "Eighty-one percent believe that whatever the government says, it will cost more."
Excellent coverage of Scott Rasmussen's speech in Washington State Wire.
Join us Wednesday, May 26, at the Bell Harbor Conference Center in Seattle, to celebrate 78 years of the Washington Research Council. Our keynote speaker will be Scott Rasmussen, founder and president of Rasmussen Reports, one of the nation's premier polling firms.
The meeting begins as 7:00 p.m. Reception begins at 5:30.
Contact the WRC for ticket information.
The Puget Sound Regional Council has posted estimates of employment in March 2009 for the cities in the four-county PSRC region here.
These are challenging times in the oil refining industry, as an article on the front page of the business section of today’s New York Times documents (Chilly Climate for Oil Refiners).
Five U.S. refineries have shut down in the past year.
I have been optimistic that this would be a LIFO recession. Washington was one of the last states to go into recession. It has been my belief that Washington would be one of the first states out and that over the next several years Washington would out perform the rest the nation as a whole by a comfortable margin. A U.S. map I saw today, however, has me wondering whether I’m right.
The state's November Economic and Revenue Forecast summarizes the case for optimism:
Yesterday (Friday the 13th), the state Caseload Forecast Council updated its forecasts for K-12 enrollments and for various human services caseloads. Here is a table that summarizes the differences between the new forecasts and the caseloads assumed in the adopted 2009¬11 budget. The key changes include: