Dr.Dross

No trickle-down BS economics that only creates a growing income disparity. Solution: Tax the rich. What happened? Turned a 2.6 billion deficit into a billion surplus. Unemployment fell to 3.2%. It made Minnesota go from a negative economy to the fifth fastest growing economy in the US. Republicans got it seriously wrong about economics.

bmac32 Loc: West Florida

Dreamer:

Minnesota’s budget and economic outlook remains stable, despite continued slow economic growth. While actual revenues collected in FY 2016 improved compared to previous estimates, revenues in fiscal years 2017-19 are lower than prior estimates. Slower projected economic growth and a lower consumer spending forecast contribute to a lower general sales tax revenue forecast in FY 2017-19. Revenue forecast reductions are offset by lower spending estimates in fiscal years 2016-19, due to enrollment and cost changes in the Medical Assistance (MA) program. The FY 2016-17 biennium is now projected to end with a balance of $678 million, after the statutory allocation of $334 million to the budget reserve.

The balance between revenues and spending in the next biennium has been reduced compared to prior estimates. General fund revenues in FY 2018-19 are expected to grow to $45.3 billion, while projected current law spending is estimated to be just under $44.6 billion. The $678 million ending balance forecast for the current biennium adds to resources available for the next biennium. As a result, a $1.400 billion balance is projected to be available for the upcoming FY 2018-19 biennial budget.


U.S. Economic Outlook. The outlook for U.S. economic growth has weakened since Minnesota’s Budget and Economic Forecast was last prepared in February 2016. A reduction in business building and equipment purchases in the first half of this year slowed U.S. economic growth for 2016. Since February, Minnesota’s macroeconomic consultant, IHS Markit (IHS), has decreased their forecast for real GDP growth in 2016 from 2.4 percent in February’s outlook to 1.5 percent in November. Lower forecasts for consumer spending and business capital purchases reduce the 2017 growth forecast from 2.8 percent in February to 2.2 percent in November. Consumer spending growth is expected to remain modest and helps lower the economic growth forecasts for 2018 and 2019.

robmull Loc: florida

Sure, Dr. Gross. Just keep pushin' that radical Marx/Alinsky (D), crap on "US." "WE" believe every word you say. Try that Russian stuff again; "WE" may bite next time. Brilliant!!! Hummmmmmm. What IS that "crushing" noise I keep hearing??? GOOOOOOOOOO REP. TREY GOWDY (R), AND - GOOOOOOOOOOOOOOOO PRESIDENT "45" DONALD J. TRUMP (R); JUST LIKE THE WEATHER!!!

permafrost Loc: Minnesota

Bmac,

If I understand your post.. We in Minnesota are to be worried that the future may not be as good as the here and now??

The biggest problem we seem to have is finding people to fill jobs.. Maybe we need to bring in more immigrants..

Slow growth? That is due to shortage of workers..

Yes, we need to be concerned for the future. we have a history of that. from WWll we have been consistently above the average national economy in most catagories.

No we can not see the future perfectly, but we have a history of dealing with rather well. Republican or Democrat, the people of Minnesota do things rather well.

With a well educated and healthy population, things are going fine and while adjustments and infighting are the norm everywhere. History shows we will likely do well in the future..

jim keris

Reminds me of a 1960's song by Ten Years After, Goes something like "Tax the Rich, feed the poor till there are no rich no more "

bmac32 Loc: West Florida

That is the liberal mindset them it will turn to civil war thankfully by then I'll be gone.