Gov. Tim Pawlenty plans to outline cuts to address Minnesota's immediate $426 million deficit on Friday.

The Republican governor met with top legislators for about an hour to discuss the reductions Wednesday.

Senate and House Democrats are taking different approaches to the deficit, with Senate Majority Leader Larry Pogemiller calling for across-the-board cuts, and House Speaker Margaret Anderson Kelliher pushing for targeted cuts that spare public school classrooms.

Kelliher says cities and counties won't escape aid cuts.

Pawlenty spokesman Brian McClung says the governor will stick to his priorities of military and veterans programs, public safety and K-12 education.

Emptying a $155 million rainy-day fund pared the shortfall to $271 million, $40 million of which will come from state agencies directed to identify savings.

The $426 million deficit involves the current budget period, which ends June 30. In addition, the state has projected a deficit of $4.8 billion for the ensuing two-year budget period, through June 2011.