I’ll be live blogging the news conference today at 11 during which the size of the state’s budget deficit will be made clear. Later, Gov. Pawlenty will hold his own news conference. A Webcast of the events will be available on the Minnesota Public Radio Web site.
Tom Stinson, the state economist, described Minnesota’s economy this way last month:
The National Bureau of Economic Research – the group that actually calls whether the U.S. is in a recession — says what they look for is an economic slump that is broad-based and of some significant duration. And what we’ve seen over the last six months in employment in Minnesota certainly qualifies.”
That earned him a rhetorical smackdown from the governor:
“Tom Stinson tends to be a bit on the pessimistic side of things, to put it charitably…I don’t think it’s helpful – unless it’s clearly justified by the data – for people to get overly pessimistic or overly scare people, either.”
Nonetheless, the smart money at the Capitol says the deficit could approach $1 billion, and even some top-ranking DFLers are saying the budget will have to be cut. So let’s take another whack at the “shared sacrifice game” while we’re waiting for the sessions to start:
If you were to give up something in the state budget from which you derive a benefit, what would it be?
I usually don’t get many responses when I ask the question.