The state budget deficit crisis is monumental. As the legislature reconvenes in January, they will be faced with decisions about cutting programs, raising taxes and deficit spending. The state of Minnesota cannot run a budget deficit, but issuing bonds to pay for state spending is an option that looks something like deficit spending. Bonding means basically taking out loans to cover spending and paying them back over the long term. Bonding typically covers construction and public works projects.
The Minnesota House of Representatives has set up a webpage to gather your comments on the budget deficit, which totals $426 million this biennium and $4.8 billion for FY 2010-11. Those comments will not be published. We’d also like to invite your comments, suggestions and ideas — and if you comment to the TC Daily Planet, your comment will be published. For short comments, click on the comment link at the bottom of the story. For longer comments, send an email to firstname.lastname@example.org.