$1.2 billion deficit for Minnesota
ST. PAUL -- Minnesota's current state budget will be $1.2 billion in deficit if lawmakers and Gov. Tim Pawlenty don't take action, state leaders are learning today.
And the state faces a $5.4 billion deficit through 2013.
Pawlenty this summer cut $6 billion out of the two-year budget that began on July 1, leaving the state to spend $32 billion. The new projections mean the budget will have to be trimmed further or taxes raised, or a combination of the two.
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