In its annual November forecast, the state announced a $373 million deficit in its current budget that runs through June 30, 2009, as Minnesota’s economic outlook shows a downward turn through mid-2008.

A $211 million structural deficit is expected going into the next biennium. However, those figures don’t account for inflationary increases in spending. When inflation is taken into account, the structural deficit in the next biennium grows by another $1 billion.

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