The Norman Transcript

Headlines

January 4, 2013

State treasurer releases year-end economic report

NORMAN — The pace of Oklahoma’s economy recovery slowed during 2012, State Treasurer Ken Miller said Thursday as he released the state’s monthly gross receipts to the treasury report.

“December receipts were 1.5 percent better than the prior year, and total year collections surpassed the previous year by 3.8 percent,” Miller said. “That compares to growth last December of 11.1 percent and a 2011 growth rate of 9.6 percent.”

Miller said sales tax collections indicate a healthy Christmas shopping season in Oklahoma. December sales tax collections, reflecting sales between mid-November and mid-December, were $20.45 million, or 5.9 percent higher than the last holiday shopping season, a similar growth rate to sales during the same period in 2011.

December was the eighth time in the past year that collections exceeded those of the same month in 2011. In four months in 2012, collections dipped slightly below prior-year collections, according to Miller’s press release.

“Twelve-month collections now stand more than $1.7 billion higher than in February of 2010. Since we hit the trough almost three years ago, almost 90 percent of the revenue lost from our peak in December 2008 has been recovered,” he said.

 

Averting the cliff: Miller said the fiscal cliff deal reached earlier this week by Congress and the president brings good news and bad.

“The good news is that 98 percent of Americans will avoid a tax increase and the Bush tax cuts were made permanent, providing needed certainty to families and small businesses,” Miller said. “Quite obviously, that’s good news for the Oklahoma economy, as it is never advisable to raise taxes during a recession or weak recovery.

“Oklahoma’s recovery has been stronger than in most other states, but we need our country to do well so we can continue our economic gains.”

Miller said the bad news involves Washington’s appetite for spending.

“This deal does nothing to address Washington’s overspending that must be corrected, lest our federal leaders spend this country into oblivion,” he said. “During the coming months, policymakers must be cognizant of the near-term weak recovery but must finally get serious and implement a long-term solution that safeguards the economic and national security interests of our country.”

Text Only | Photo Reprints
Headlines
  • Body 1 Police identify woman found dead Monday

    Norman police have identified a woman found dead in her home at 2202 Donna Drive Monday afternoon. Police responded at 1:25 p.m. to the residence of Cassandra Thompson, 30, after receiving a report that she had not shown up for work ...

    July 29, 2014 1 Photo

  • Residents speak out about document regarding shelter photos

    Norman and metro-area residents showed up in overwhelming numbers, many in red shirts, for an Animal Shelter Oversight Board meeting Monday night demanding for their opinions to be heard....

    July 29, 2014

  • Mixon’s attorney says athlete acted in self-defense

    The attorney for Oklahoma running back Joe Mixon says the incident that left a 20-year-old female OU student with multiple facial fractures was a case of self-defense. “This past Friday morning, Joe Mixon found himself in a situation ...

    July 29, 2014

  • Cool snap brings heat relief to Oklahoma, Arkansas

    OKLAHOMA CITY — The dog days of summer are coming in with a whimper. Weather forecasters say a cold front headed for Oklahoma and Arkansas will bring unseasonably cool temperatures and a chance of rain through next week....

    July 29, 2014

  • Be ready for ‘prolonged’ Gaza war, prime minister says

    GAZA CITY, Gaza Strip — Signaling an escalation of Israel’s Gaza operation, Prime Minister Benjamin Netanyahu told Israelis Monday to be ready for a “prolonged” war, and the military warned Palestinians in three large neighborhoods to ...

    July 29, 2014

  • FBI defends search for Oklahoma City bombing video

    SALT LAKE CITY — The FBI thoroughly searched its archives and found no evidence that more videos of the Oklahoma City bombing exist, agency employees told a judge Monday in a trial that has rekindled questions about whether any others were ...

    July 29, 2014

  • County moves forward on nursing home bonds

    Cleveland County commissioners on Monday approved a resolution authoring a county trust to issue up to $15 million for a nursing home on the site of the former Whispering Pines nursing home at 501 E. Robinson St....

    July 29, 2014

  • Deal to improve health care costs $17B

    WASHINGTON — A bipartisan deal announced Monday would authorize about $17 billion to help veterans avoid long waits for health care, hire more doctors and nurses to treat veterans and make it easier to fire executives at the Department of ...

    July 29, 2014

  • Breast Care Center will relocate to HealthPlex

    The Norman Regional Health System will move its Breast Care Center to the HealthPlex campus, making it more accessible for patients, hospital officials said Monday. At its monthly board meeting, the Norman Regional Hospital Authority ...

    July 29, 2014

  • Little Axe Health Center hosting blood drive

    Norman-area blood donors this summer will not only save lives when they donate with Oklahoma Blood Institute (OBI), they’ll also get “Feel Cool” T-shirts and two tickets to the Oklahoma City Zoo....

    July 29, 2014