{"id":84017,"date":"2024-12-04T09:42:00","date_gmt":"2024-12-04T15:42:00","guid":{"rendered":"http:\/\/www.shotinthedark.info\/wp\/?p=84017"},"modified":"2024-12-04T12:25:31","modified_gmt":"2024-12-04T18:25:31","slug":"offline-check-the-budget-forecast","status":"publish","type":"post","link":"http:\/\/www.shotinthedark.info\/wp\/?p=84017","title":{"rendered":"Exactly As Predicted"},"content":{"rendered":"\n<p>In 2022, I predicted $17.6B &#8220;surplus&#8221; would disappear under DFL rule.&nbsp;&nbsp;&nbsp; <\/p>\n\n\n\n<p>I&#8217;m not wrong on the inevitable end result.  Just the timing:<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">BREAKING: Minnesota\u2019s new budget forecast shows short-term surplus of $616 million through 2026-27, $1.1 billion less than projected earlier. So far, estimates for the following two years have not been released. MMB projects declining revenue and higher spending. <a href=\"https:\/\/t.co\/wJGFDVWofB\">pic.twitter.com\/wJGFDVWofB<\/a><\/p>&mdash; Tom Hauser (@thauserkstp) <a href=\"https:\/\/twitter.com\/thauserkstp\/status\/1864333075611590921?ref_src=twsrc%5Etfw\">December 4, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Revenue dropping.  Spending ballooning.  And the productive class &#8220;going Galt&#8221; and moving to Texas, Florda or Tennessee.  <\/p>\n\n\n\n<p>Things didn&#8217;t get quite as bad quite as fast as I thought &#8211; but it&#8217;s really just teasing us. <\/p>\n\n\n\n<p><strong>PS:  <\/strong>Whoah.  I spoke too soon &#8211; but boy, was I correct:<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">DEVELOPING:  MN Management and Budget Office now projecting deficit of $5.1 billion in 2028-29 state budget, including projected inflation. In short-term, MN has $616 million surplus for 2026-27. State budget officials releasing details now in St. Paul. <a href=\"https:\/\/t.co\/MawZH8DXob\">pic.twitter.com\/MawZH8DXob<\/a><\/p>&mdash; Tom Hauser (@thauserkstp) <a href=\"https:\/\/twitter.com\/thauserkstp\/status\/1864368128668455228?ref_src=twsrc%5Etfw\">December 4, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>So I&#8217;d figured $2-3 Billion.   $5B plus?<\/p>\n\n\n\n<p>Oh, the hits <em>do not <\/em>quit:<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Big spending increases approved in recent years by legislature are one culprit for large projected deficit. The state economist says income tax revenue growth also expected to decline after wage growth slows from 7% in 2021-22\u2026to 4.2% or less projected in next few years. <a href=\"https:\/\/t.co\/strzUOwbQP\">pic.twitter.com\/strzUOwbQP<\/a><\/p>&mdash; Tom Hauser (@thauserkstp) <a href=\"https:\/\/twitter.com\/thauserkstp\/status\/1864371075221463165?ref_src=twsrc%5Etfw\">December 4, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Great job, #MNDFL<\/p>\n\n\n","protected":false},"excerpt":{"rendered":"<p>In 2022, I predicted $17.6B &#8220;surplus&#8221; would disappear under DFL rule.&nbsp;&nbsp;&nbsp; I&#8217;m not wrong on the inevitable end result. Just the timing: Revenue dropping. Spending ballooning. And the productive class &#8220;going Galt&#8221; and moving to Texas, Florda or Tennessee. Things didn&#8217;t get quite as bad quite as fast as I thought &#8211; but it&#8217;s really [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,320],"tags":[],"class_list":["post-84017","post","type-post","status-publish","format-standard","hentry","category-minnesota-politics","category-mndfl"],"_links":{"self":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/84017","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=84017"}],"version-history":[{"count":5,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/84017\/revisions"}],"predecessor-version":[{"id":88847,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/84017\/revisions\/88847"}],"wp:attachment":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=84017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=84017"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=84017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}