Its big news all over Minnesota today…we’re in surplus again! Whoo-hoooo!!!
This is genuinely good news. By legal mandate, all of the new money is dedicated to repaying the legislative accounting shifts (meaning bookkeeping gimmicks) the legislature used in 2002 to balance the budget. This is even better news. One of the worst things One Term Timmy Pawlenty has done in his brief tenure was use these accounting maneuvers, destroying Minnesota’s reputation with the bond market (and losing our top credit rating) all in order to keep his asinine “no new taxes” pledge.
For the record, I challenge Governor Pawlenty and the state legislature (DFLers included) to do the following with the surplus money before even considering any other option (whether that be tax rebates OR new spending):
1. Fix EVERY single accounting “shift”. These Arthur Anderson style maneuvers were the major reason why we lost our superior bond rating and were condemned by previous Finance Commissioners both Democrats, Republicans and Independents.
2. Restore the Tobacco Settlement Endowment. The elimination of this endowment is one of the most shameful acts ever committed by the Minnesota legislature. Our record settlement of $6.1 billion was supposed to go towards anti-smoking programs that targeted young people. Instead, it was used as political cover by a bunch of cowards who didn’t have the spine to deal with our deficit in a responsible manner. Every legislator who voted to kill the endowment (whether they be a DFLer or a GOPer) ought to be ashamed.

It must be a slow day over at Republican Party HQ, cause all MDE has been doing today is picking fights.


Who knew that when Makeover Mark 
WHOA! From The New York Times:
In one of the better editorials I have read in a while,