Woodbury Rep. Ward on Revised Budget Forecast: ‘Real Progress Towards Economic Recovery’
The latest budget forecast for Minnesota came out this week, projecting a smaller deficit than previously anticipated.
JoAnn Ward, a first-term state House representative from Woodbury, says a revised budget forecast for Minnesota is encouraging, but more work lies ahead.
The February budget forecast released this week shows a projected deficit of $627 million for fiscal years 2014-15, down from November’s projected $1.1 billion deficit.
“Minnesota is making real progress towards economic recovery and I am encouraged that the state is in a better place now than a few months ago,” Ward (DFL-Woodbury) said in a statement. “We still must tackle a large deficit, but I am confident that we will close this gap in a responsible way that sets up Minnesota for future growth and prosperity.”
Republicans, meanwhile, said that despite the improved projections, the DFL—which has a majority in both chambers and holds the governor’s office—is still proposing the same $3.7 billion tax increase lawmakers had previously put forward, according to a post from House Public Information Services writer Jonathan Mohr.
Democrats, said House Minority Leader Kurt Doudt, aren’t discussing further cuts, and are instead saying: “We can spend a little bit more here or we can spend a little bit more there.”
Ward said the state has an opportunity to stop the cycle of budget deficits the state has faced over the past decade.
“We cannot continue to have economic growth if we sacrifice our future,” she said. “We need to make wise investments to grow middle-class jobs and strengthen education to build a 21st century workforce. If we make investments today to continue to grow our economy, Minnesota will do more than just recover from the recession—we will be better off than we were before.”
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6:20 am on Sunday, March 10, 2013
How is being almost a billion in debt progress? We're still in debt due to excessive spending and taxation. Compare North Dakota or any small government state to our big government state and you can clearly see the difference in where the economy is actually good.
Joyce Denn
11:47 am on Sunday, March 10, 2013
We're in debt due to massive tax cuts, two unfunded wars, an unfunded mandate (Medicare Part D) and a huge recession which reduced government revenues (people who are out of work don't pay income taxes) and increased spending on necessary services such as food stamps and unemployment benefits.
The best, most effective way to reduce our debt is to increase employment and grow our GDP, reducing the debt to GDP ratio.
Austerity is absolutely the wrong prescription; as Europe amply demonstrates, austerity actually shrinks GDP and INCREASES debt as a percentage of GDP!
Kris Janisch
9:14 am on Sunday, March 10, 2013
Progress from the previous projection.