Next State Economic Outlook Due February 28

Next State Economic Outlook Due February 28 Click to Enlarge Photo:

Jan 14, 2013 at 1:04 pm

ST. PAUL, Minn. (AP) Minnesota lawmakers are being told to expect a new state
economic forecast on Feb. 28, but also being warned that more uncertainty from
Washington will cloud the picture.
State finance officials on Monday revealed the date of the much-anticipated
forecast. They also told the House Ways and Means Committee that a debate over
whether to boost the nation's debt limit probably won't be resolved when the
state report is prepared.
 The document matters because it provides the fiscal target lawmakers must hit
with their two-year budget. For now, the state is faced with a projected $1.1
billion deficit.
 State economist Tom Stinson says the assumption is Congress will increase the
nation's borrowing limit. If that doesn't happen, many economists are predicting
a credit rating downgrade and other fiscal fallout.

Abby Faulkner

Posted By Abby Faulkner

Assistant News Director

Abby Faulkner's Profile

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