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Friday, March 5, 2010

NEW FORECAST - $1 BILLION DOLLAR DEFICIT

The Devil Is In The Details
It was recently reported that our projected budget deficit went down from $1.2 billion to $994 million. So good news right? Well....not exactly...this is a case of the devil being in the details. Over $150 million dollars in the "reduction" is extra money from the federal govt. This gets recorded as a 'spending reduction' and therefore 'savings'. I know, it makes zero sense. This "extra" money just kicks the difficult budget decisions down the road. Eventually - we will have to pay for this. Here is a link to a summary of the forecast if you are interested. http://www.doer.state.mn.us/fu-2009-nov

Rep. Pat Garofalo - District 36B
221 State Office Building
100 Rev. Dr. Martin Luther King Jr. Blvd.
Saint Paul, Minnesota 55155
(651) 296-1069
1-888-667-3337

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