Another nail ...in the DFL coffin?

This from here:

Minnesota Governor Pawlenty Touts $1 Billion Budget Surplus Budget forecast shows $1 billion positive balance for FY 2005, FY 2006-07

November 30, 2005 -- Saint Paul – In announcing a $1 billion budget surplus, Governor Tim Pawlenty said today, “We have successfully completed the biggest financial turnaround in state history and are now poised for an even brighter future.”

When Pawlenty took office in January 2003 he inherited a mammoth $4.5 billion budget deficit, the largest in state history and one of the largest state deficits in the nation. That deficit was projected for the two-year budget cycle (FY 2004-05) that ended on June 30, 2005. The state finished that budget period with a positive balance and cash flow and reserve accounts restored to all-time highs. In addition, $337 million in surplus funds were placed in a tax relief account and are available for use.

For the current two-year budget cycle (FY 2006-07), the state has a projected budget surplus of $701 million. The combined positive balance is $1.04 billion.(emphasis mine)

... and to add further salt in the DFL's wounds...

“While bringing Minnesota from historic budget crisis to financial security we held government accountable and improved results in key areas,” Governor Pawlenty said. “We increased K-12 education spending by $800 million, one of the largest boosts for schools in state history, while improving school standards and beginning a nation-leading teacher performance pay program. We enhanced funding to battle meth and lock up sex offenders. We slowed the explosive growth in health care programs while maintaining services for the most vulnerable and needy. We passed the state’s largest transportation package ever, more than $900 million over and above the current construction program, and made great progress in other areas.”

Under current law, the projected FY06-07 surplus will be used to enhance the amount and timing of payments to K-12 schools. Schools will receive additional funds due to the buyback beginning with funds sent to districts on December 15.

The state’s fiscal safeguards are now at all-time high levels, with budget reserves at $653 million and the cash flow account at $350 million.

I eagerly await the DFL spinmeisters' approach to this. This oughta be a hoot!

Sucks when you set yourself up such that you succeed only when others fail, doesn't it?


(Filed under Elections)