The projected state budget deficit stands at nearly $5.3 billion, state Management & Budget Commissioner Tom Hanson just announced.
For the current fiscal year, the budget is $426 million under water.
For fiscal year 2010, the shortfall looms as $4.85 billion. Total: nearly $5.3 billion.
“The economy has body-slammed” Minnesota, he said.
State economist Tom Stinson added: “It’s just plain ugly.”