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Just announced: State facing combined budget deficit of nearly $5.3 billion

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.”

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Comments (1)

  1. Submitted by Annalise Cudahy on 12/04/2008 - 11:35 am.

    Well, that’s about what I said when Wisconsin came in at $5B.

    Good luck, everyone!

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