Last December 8, when the DFL was crowing about having a “$17.6 Billion Surplus”, I noted tha the so-called “surplus” was nothing but bIllions of dollars in federal Covid stimulus dollars, routine Minnesota DFL overtaxation (plumped up by receipts driven up by inflation in the cost of the goods being taxed, and that all of that that taxation and inflation was going on over an epipandemic surge in stimulus-swollen consumer spending that would end with the subsidies.
And I predicted:
- The DFL will turn that “$27.6 Billion in Surplus” into permanent spending
- The economy will slow into recession (as even the DFL’s cheerleaders in their bespoke press are starting to observe).
- Without the Covid stimuli, and with the economy contracting, tax receipts will crash again. “Unexpectedly”
- The state will have a multibillion dollar deficit by 2026, probably 2024.
I think it’s fair to say the first bullet is in the 10 ring:
“Seemingly”.
Of course, some are taking this as a cue to celebrate:
No word from Rep. Stevenson if making the trains run on time is next.
My ultimate prediction – billions in deficits – is now inevitable.
No, it’s not just me. Walter Hudson:
Don’t bother AIUMMP. In Mr. Bubble’s world, the top never stops spinning.
UMMP, you could argue it’s giving them the benefit of the doubt, or you could argue that it’s a matter of letting them hang themselves with their own actions. I tend towards the latter. Let’s have the discussion, line by line, and if they don’t, publish the list and ask people if they’re really good with that.