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Bennett
Dear Friends,
On Thursday, Minnesota budget officials unveiled their latest economic forecast. Once again, there is a significant deficit on the horizon.
For the remainder of the state’s current budget cycle, a projected $2.465 billion surplus is expected. The bad news? For the next budget cycle in 2028-29, Minnesota is expected to deal with a nearly $3 billion deficit. If the current budget surplus is fully spent next session, the projected deficit total is expected to jump to $5.4 billion.
Governor Walz and the DFL-led legislature deserve blame for this. Their decisions two years ago to blow through a nearly $19 billion budget surplus and grow government by nearly 40% have put our state on the path of financial instability.
The reluctance to address the massive fraud that is taking place in our state only adds to the problem. Republicans have sounded this alarm bell for years, only to be told by our DFL counterparts that claims of fraud are like “fairy dust.” Fast forward to today, where we are approaching $2 billion – that we know about – in taxpayer dollars that have been stolen. Multiple programs and agencies across state government impacted. It’s so bad that the federal government is now getting involved. Just this week, 3 federal agencies launched investigations into Minnesota. Some national news outlets are even reporting on it!
I’m told if Democrats had taken that fraud seriously instead of dismissing concerns and ignoring massive overruns, that projected deficit would be less than a third of what it is now. And worst of all, the people who really need the government assistance that was stolen from our state programs are not receiving it.
Next session, we need to focus on fixing these problems, and prioritizing our budget to ensure our core responsibilities are adequately funded. Things that aren't working, or are not necessary, need to go. This includes many of the unfunded mandates that we have foisted upon our schools, cities, and counties which are driving up local property taxes. We need to root out fraud and finally put an end to the billions of dollars that are being swindled.
Last session we began the process of reducing spending, though I would have liked to have done more. However, if we hadn’t started this process, this future deficit would have been nearly 50% higher.
All the fiscal signs continue to point to Minnesota having a spending problem. If everything is a funding priority, then really nothing is an actual priority. If we start identifying funding priorities and stop the fraud next session, I am confident we can put an end to these continued future deficit projections.
Have a good weekend,
Peggy
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2319 Centennial Office Bldg.
658 Cedar Street
St. Paul, MN 55155
651-296-8216
[email protected]
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