Peter J. Nelson

  • Solutions: MINNESOTA

    Preparing For an Even More Demanding Future: American Experiment's 2010-11 Budget Recommendations

    by Peter J. Nelson | April 19, 2010

    Lawmakers' top priority for this session is erasing the $4.6 billion shortfall forecast for the 2010-11 biennium. In doing so, they must also work to create permanent solutions that not only erase the present shortfall but also avert future shortfalls. Due to certain demographic realities-led by the swelling numbers of baby boomers entering retirement-government spending is projected to outpace tax revenues for the next 25 years. Under these trends, business as usual cannot continue. Consequently, big changes to state programs and possibly the tax code will be necessary.