Financial forecast likely to show steep deficit

State leaders are bracing for more bad financial news.

Finance officials detail Wednesday how expected revenue and spending match up. All indications are that Minnesota will face another steep deficit. That will undoubtedly mean another round of spending cuts on top of the billions already shaved.

Minnesota tax collections have lagged expectations by more than $200 million since the last forecast was released in March.

Gov. Tim Pawlenty said last week that he's inclined to hold off on any budget fix until the Legislature reconvenes in February, but didn't rule out withholding payments or other budget cuts.

ASSOCIATED PRESS

Chicago man arrested in smashing of TVs at Target A hammer-wielding, bloody-faced man was arrested at a Target store in Winona after allegedly smashing TV screens.

Police arrived at the store about 5:15 p.m. Saturday and briefly chased the 39-year-old Chicago man, the Winona Daily News reported. Police used a Taser on the man after he swung the hammer at an officer, according to the report.

STAFF REPORT

Friend held in fatal stabbing of 61-year-old man A 61-year-old man was found stabbed to death Saturday night near Luck, Wis., the Polk County Sheriff's Office said.

Stephen Dahlstrom, of Bogota, Colombia, was found at about 9:45 p.m. in the garage at a Bone Lake Township home. He had severe blunt force trauma and "at least one fatal stab wound," Sheriff Timothy Moore said in a statement.

A 62-year-old man, the only person living at the home, was arrested and booked into the Polk County jail on suspicion of homicide, the Sheriff's Office said. Dahlstrom, who used to live in the Edina area, and the man in custody were friends and knew each other for several years, Moore's statement said. An autopsy is planned for Monday.