JUSIPER
Thursday, December 04, 2008
Guess it won't be Pawlenty '12
Unless we're real lucky:
Minnesota's red ink totals $5.2 billion
State budget officials this morning said falling tax revenue from struggling businesses and workers will push the deficit to nearly 14 percent of the state's total budget.
Expecting falling tax revenue from struggling businesses and workers in a recession, state budget officials today projected a $4.8 billion deficit over two years, nearly 14 percent of the state's total budget.
The deficit predicted for the two-year period beginning July 1, 2009, is in addition to a $426 million gap for the current budget year ending June 30, which will wipe out the state's current narrow budget surplus.
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