State's cash flow problem delays tax refunds, may prompt borrowing

The state of Minnesota is running short of cash. As a result, state officials have delayed some tax refunds and may have to resort to short-term borrowing to pay some bills.

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[JAY]

Hope the state is sympathetic when people or businesses are short on cash when they want the money.

[EnoughPlease]

Wiat....wait.....Pawlenty refused to increase any kind of revenue stream (fees, taxes, etc.)....while saying that if he cut the state workforce (from 51,000 to about 35,000 during his term), cut "wasteful and unnecessary programs," insisted on a budget within so many dollars and then STILL used unallottment to further reduce state spending that we'd be good to go with a blanced budget for the next 2 years.

So, he is a liar? Wrong? Are we victims of his wishful thinking? Did he and his staff lack the financial foresight to see this coming?

Or did he just put a band-aid over a sucking chest wound hoping things would hold together until he was out of office and on the presidential election trail where he could say he left the state with a balanced budget without having to raise taxes, fees or hurt the state's credit rating?

[evlded]

Pathetic.

[alan]

Pawlenty has done the right thing holding the line on spending. It's too bad our representatives could not get the job done properly during the regular session. We need more cuts in spending not an increase in taxes!

[Own Up]

"...$16 million in sales tax refunds to 294 taxpayers".

Thats over $54,000 per taxpayer. Something doesn't sound right with that figure.

[NMplsMan]

Hey, let's call the governor!! Oh, that's right, he won't do anything about it anyway.. He's waiting for a "certain to fail" attempt at running the country..

[GET REAL]

Meanwhile T paw travels coast to coast campaigning.

One has to laugh at those blaming everything up the ladder.

[Tank Murdoch]

High taxes and crazy environmental regulations do one thing and that is kill jobs. having no jobs means collecting taxes are limited.

The faster when can get these nutty dems out of office the faster when can get back to prosperity, economic growth & fiscal responsibility that leads to having higher tax revenues.

[Robert Rapp]

I'm sure Gov. Pawlenty has some cuts he can make to help pay tax refunds. How about cutting programs like the ones that help poor people with medical problems that have to be on specific diets so they dont DIE. Oh wait he already cut that one.And he thinks he would make a good President. What would Jesus do Mr Pawlenty?I have very strong doubts about you being a true christian . What I dont doubt is that you are a true Republican. Looking foward to not EVER voting for you again for anything.

[GET REAL]

prosperity, economic growth & fiscal responsibility

I take it you are not talking about the GOP.
They showed such grand fiscal responsibility when in power.

[UpSide]

Tank Murdoch wrote:

High taxes and crazy environmental regulations do one thing and that is kill jobs. having no jobs means collecting taxes are limited.
The faster when can get these nutty dems out of office the faster when can get back to prosperity, economic growth & fiscal responsibility that leads to having higher tax revenues.

You realize that Pawlenty has been Governor for 7 years......and that Republications held the White House, House and Senate from 2000-2006 and the White House from 2000-2008....and that what is being talked about in this article is a result of Pawlenty's governing and budget requirements for the last 8 years....right?

You also realize that our last "Boom Era" for economic growth was during the 1990's when we had a Democratic president and a moderate-Republican Gov.

You know these things, correct? You can't be that blind to these facts, are you?

[JoeMerlot]

EnoughPlease wrote:

Wiat....wait.....Pawlenty refused to increase any kind of revenue stream (fees, taxes, etc.)....while saying that if he cut the state workforce (from 51,000 to about 35,000 during his term), cut "wasteful and unnecessary programs," insisted on a budget within so many dollars and then STILL used unallottment to further reduce state spending that we'd be good to go with a blanced budget for the next 2 years.
So, he is a liar? Wrong? Are we victims of his wishful thinking? Did he and his staff lack the financial foresight to see this coming?
Or did he just put a band-aid over a sucking chest wound hoping things would hold together until he was out of office and on the presidential election trail where he could say he left the state with a balanced budget without having to raise taxes, fees or hurt the state's credit rating?

The governor's unnallotments were weighted about 80% to the second half of the biennium (after the next legislative cycle). He purposely did this to balance the budget without (a) gutting services and impacting people immediately and (b) without raising taxes and (c) to allow for a more good faith negotiation than he received in the 2009 session. The state's budget has doubled in a short period of time and the Governor, very correctly, refuses to allow that trend to continue. His proposal this year was to minimally cut services, obtain one time cash from securitization of future tobacco settlement payments and waiting out the recession knowing that tax revenue will increase when the economy rebounds and more people start working and per capita income starts increasing instead of decreasing as it has throughout 2008 and 2009. That was unacceptable to DFL'ers who were bent on a tax increase at all costs and were prepared for a protracted fight in a special session using a government shutdown as leverage to get their tax increase. DFL'ers want desparately to be allowed to continue to increase the budget at the expense of anyone who earns more than 300% of the federal poverty level. Start paying attention and thinking for yourself rather than listening to the Larry/Margaret spin and maybe you'll catch up with the rest of us.

[Say What]

All these years under the rule of Mr. Fiscal Conservative and we're not in the black? Hmmm.........

[Say What]

Tank Murdoch wrote:

High taxes and crazy environmental regulations do one thing and that is kill jobs. having no jobs means collecting taxes are limited.
The faster when can get these nutty dems out of office the faster when can get back to prosperity, economic growth & fiscal responsibility that leads to having higher tax revenues.

Bernie Madoff, Tom Petters and Ken Lay couldn't have said it better, Tank.

I'm beginning to think "Conservative" stands for morales.

[Tank Murdoch]

UpSide wrote:

<quoted text>
You realize that Pawlenty has been Governor for 7 years......and that Republications held the White House, House and Senate from 2000-2006

The financial collapse started in 2006-they year Nancy Pelosi came into power

[Tank Murdoch]

GET REAL wrote:

prosperity, economic growth & fiscal responsibility
I take it you are not talking about the GOP.
They showed such grand fiscal responsibility when in power.

Obama has given us 10.2% unemployment that is still climbing and tripled deficits.

GWB averaged 5% unemployment over 8 years.

[GET REAL]

UpSide wrote:

<quoted text>
You realize that Pawlenty has been Governor for 7 years......and that Republications held the White House, House and Senate from 2000-2006 and the White House from 2000-2008....and that what is being talked about in this article is a result of Pawlenty's governing and budget requirements for the last 8 years....right?
You also realize that our last "Boom Era" for economic growth was during the 1990's when we had a Democratic president and a moderate-Republican Gov.
You know these things, correct? You can't be that blind to these facts, are you?

Tank seems to rewrite history quite a bit it appears.

[JoeMerlot]

Say What wrote:

All these years under the rule of Mr. Fiscal Conservative and we're not in the black? Hmmm.........

Yeah, one conservative against liberal majorities in both the houses and senate. And somehow you find a way to blame the only voice of reason in budgetary matters. Unbeleivable.

In fairness, Pawlenty did have the benefit of a slim GOP majority in the house for half of his tenure as governor. Still, liberals have outnumbered conservatives in Minnesota government at least 2 to 1 for the last 8 years.

[UpSide]

Tank Murdoch wrote:

<quoted text>
The financial collapse started in 2006-they year Nancy Pelosi came into power

....and you point is.....what? That she is the cause of Pawlenty's budget problems?

To quote John McEnroe....You CAN'T be serious!?