Surplus still growing, but still chancy
Minnesota’s latest state economic forecast shows the state’s whopper of a surplus is getting even more whopping — instead of $7.7 billion, it could be as much as $9.25 billion. But at this point the state budget forecast is, as the old saying goes, counting chickens before the eggs hatch. The forecast that came out Monday is based on a lot of projections and assumptions that could change drastically in the months ahead as the effect of Russia’s invastion of Ukraine spreads throughout the world. Economic sanctions designed to punish Russia could raise inflation rates and fuel ...