State caps off the last fiscal year by depositing $249.2 million in the state's savings account, more than the $219 million estimated a month ago and the $71.1 million estimated six months ago.
NewsOK
BY MICHAEL MCNUTT mmcnutt@opubco.com
Published: August 9, 2011
The sharp plunge stocks took Monday on Wall Street as investors dealt with the U.S. losing its AAA credit rating should not overshadow Oklahoma's economic progress in the past year, the state's finance director said.
“I'm concerned, of course, by Wall Street's reaction to the debt ceiling debacle in Washington and the downgrading of our country's bond rating,” state Finance Director Preston Doerflinger said.
Only time will determine the direction of the national economy, which some economists argue might be headed for another downturn that could dampen Oklahoma's recovery from the last recession, he said.
But Doerflinger remains hopeful about the state's economic future, despite the Dow Jones industrial average dropping 635 points Monday... FULL ARTICLE
Posted on
Tue, August 9, 2011
by John Cox