by King Banaian, Peter J. Nelson
Center of the American Experiment
September 04, 2014
Minnesota’s competitiveness will suffer if we do not gain control of state spending. Because the state constitution requires a balanced budget, increased spending in one area must be offset either by higher taxes or lower spending in other areas. The spending required by an aging population and past promises threaten to crowd out spending in other, more economically productive areas such as education and transportation. Future budget challenges will almost certainly require higher, economically damaging taxes if nothing is done soon to control spending.