Imminent Shortfall

Shelds, Yvette
December 2004
Bond Buyer;12/8/2004, Vol. 350 Issue 32025, p37
Trade Publication
The article focuses on Minnesota which faces a $700 million deficit in its fiscal 2006-07 budget based on the latest economic forecast released in December 2004. If the state increases existing spending levels solely to account for inflation, the deficit would grow by about another $600 million, according to the forecast. Governor Tim Pawlenty, a Republican, portrayed the looming deficit as manageable compared to the multibillion-dollar shortfalls faced by the state in recent budgets and blamed the current situation on "out-of-control" growth in government health program spending. He said overcoming the deficit is possible by curbing such spending.


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