The office of Minnesota Management and Budget (MMB) today released its annual November economic forecast. The report, which details the state’s budget picture, projects a surplus of $616 million for the 2026-2027 budget cycle. But the most concerning aspect of the report is the massive budget deficit on the horizon – $5.1 billion for Fiscal Year 2028-2029.
Senator John Jasinski (Faribault) issued the following statement:
“Massive spending increases, unchecked fraud, and government waste have defined the Democrats’ governing trifecta. In just two years of total control, Democrats turned a $19 billion surplus into a looming $5.1 billion deficit, raised $10 billion in taxes, and increased government spending by 40%. This is a complete and utter failure to govern responsibly, plain and simple. If we don’t get spending under control and put a stop to the fraud and waste, Minnesotans will be hit with even more taxes to cover the Democrats’ mismanagement.”
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