'A BOATLOAD OF MONEY'
Revised state deficit still daunting
News of Minnesota's estimated $6.2 billion deficit got markedly better Monday. Just like that, the state has an approximate deficit of $5 billion.
So how is it the budget could possibly end up in worse shape?
Well, we could also be in better shape -- it simply depends on how any number of economic uncertainties shake out.
The fact of the matter remains this: No matter the budget gap, it's going to be big ... and competing political factions are each going to have to cede something in order to obtain the balance that seems so far from our Legislature's grasp right now.
Gov. Mark Dayton quickly announced adjustments to his proposed budget following Monday's news. Republicans, meanwhile, will release their own budget plan (reportedly within the next couple of weeks).
But given the GOP legislators' strict opposition to raising any new revenue, what Dayton changed Monday will have or little or no weight on what they ultimately put on the table for discussion.
Minnesota's Constitution requires an end to budget work by May 23, but the odds of a special session seem overwhelming (despite Dayton's on-time assurances) given the rhetoric between DFLers and Republicans.
We believe a government shutdown is unlikely (Washington has to navigate that obstacle first, and what state will want to walk that walk?) but not an impossibility given the current tendency toward political gamesmanship.
