Posted: 10/11/08 15:16, Edited: 10/13/08 13:10
by Dave Mindeman
The report on the current state of the Minnesota budget is not as bad as some states and although we clearly have some forboding financial forecasts coming up, there is one thing I keep thinking about.
Given the fact that the state decided to forego a recent bond sale because of the credit crisis, consider this. During the last legislative session, the Minnesota legislative Democrats and the "override six" were criticized for "raising taxes". But the reality is that they may have saved the state a considerable amount of trouble and money.
Maybe you remember during the budget debate on transportation that Pawlenty and the House Republicans were insisting that the transportation bill forego taxes and do everything via bonding.
Weren't they talking about a billion dollars in borrowing for transportation?
Good night, where would we be right now without that bill? The transportation bill override probably helped revenues; it helped get federal transportation dollars for some of our projects; and it probably saved a huge number of construction jobs.
Am I wrong here?