Click here for Mobile Site: http://m.wcco.com
  • Font Size    

Today's Most Popular Video

Swimsuit Cover Model Forgot To Wear Top
E-mail

Close Window E-mail This Page

Bigger Minn. Deficit Expected To Reflect Job Loss

Required fields are marked with an asterisk(*)

The information you provide will be used only to send the requested e-mail and will not be used to send any other e-mail communications. Read more in our Privacy Policy

Send E-mail

   Print     Share +   
Mar 1, 2009 1:43 pm US/Central

Bigger Minn. Deficit Expected To Reflect Job Loss

ST. PAUL (AP) ― An answer is coming this week on how bad Minnesota's deficit will get.

State finance officials will release a budget forecast Tuesday that factors in continued economic problems including mounting job losses since mid-November.

Their last forecast in early December predicted a two-year deficit of $4.8 billion out of a projected $36.7 billion budget. That would mean the state is 13 percent short of what it needs to cover anticipated costs, although those could change depending on decisions made by lawmakers.

Gov. Tim Pawlenty says the deficit could be as big as $6 billion to $7 billion.

Lawmakers must pass a new budget to keep state programs operating past June 30. The Legislature faces a constitutional adjournment deadline of May 18.

(© 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

© MMX, CBS Broadcasting Inc. All Rights Reserved.