Letter: Latest state budget forecast is bad newsI’ll confirm what many Capitol insiders had been predicting for months: Minnesota faces its worst financial crisis ever.
By: Rep. Doug Magnus, R-Slayton, Worthington Daily Globe
I’ll confirm what many Capitol insiders had been predicting for months: Minnesota faces its worst financial crisis ever.
State economists now predict Minnesota to face a $4.8 billion deficit for the 2010-2011 budget cycle.
To say this is bad news is an understatement. This budget forecast includes a $2.1 billion increase in spending, and with revenues expected to decline significantly, our state simply cannot continue to support these massive increases in spending.
Minnesota also faces a $426 million deficit for the current budget cycle, which must be eliminated by June. This budget balancing process cannot drag on for months, and that immediate action is critical.
The economists tell us that the deficit increases by $2 million per day. This means we quickly have to determine the wants and the needs of state government. We have to have an open mind and take a look at every expense in the state budget and see if it’s justified.
House Republicans led us out of another mammoth budget deficit several years ago. We stand ready to help again. I am hopeful that the Democrats will work with us as opposed to trying and solve this problem on their own, as it’s important that we work in a bipartisan manner to solve this significant financial crisis.”
Fellow representative Paul Kohls (R-Victoria) is calling for a budget spending freeze to deal with the deficit. Residents are encouraged to visit the Web site www.MNSpendingFreeze.com to view the massive growth in state government spending over the last 20 years, and to sign a petition if they believe it’s time for the Legislature to control its spending.
Rep. Doug Magnus, R-Slayton