The lawmaker who ruined the John Travolta extortion trial is as lucky as he is dumb -- a judge decided today not to punish him for his monumental mistake.

Senior Justice Anita Allen told Picewell Forbes -- who announced defendant Pleasant Bridgewater was innocent before the jury had come to a decision -- he had been "rightly ridiculed locally and internationally ... It is my opinion that you have suffered enough."

Forbes avoided being charged with contempt of court -- which could have landed him a fine or jail time -- by claiming he was only repeating a rumor he had heard about the verdict.

In case you forgot what it sounds like when an extortion trial gets flushed down the toilet ... here's audio and video of Picewell screaming "Pleasant Bridgewater is a free woman" over and over.