Possible budget shortfall, mortgage rates

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The sagging US economy appears to be having an unfortunate impact on the state's finances. State lawmakers are mulling over some troubling revenue statistics reported late last week by the state economist. Tom Stinson says for July and August Minnesota revenues declined slightly in virtually every major tax category. As a result, Stinson says there's a better than 50 percent chance of a state budget shortfall in the fiscal year that ends next June. We talked with two Minnesota state lawmakers about Stinson's prediction. DFL Senate Assistant Majority Leader John Hottinger says he's not surprised.

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Digitization made possible by the State of Minnesota Legacy Amendment’s Arts and Cultural Heritage Fund, approved by voters in 2008.

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