This morning, the Minnesota Management and Budget office announced the state is projected to have a budget surplus of $1.23 billion in the current biennium and $2.6 billion in the next. SEE ALSO: The Zygi Wilf/Mark Dayton photo people can't get enough of: Top 10 tweetsHours later, Gov. Mark Dayton r ... More >>
Don't like tie games? Well, readers of the New York Times were treated yesterday to a regional battle of another kind -- one of ideas, courtesy of Lawrence R. Jacobs, a political science professor at the U of M. His op-ed for the Gray Lady, entitled "Right vs. Left in the Midwest," looks at the due ... More >>
The latest numbers from the state indicate that Minnesota has finally recovered all the jobs lost during the recession that began in early 2008.SEE ALSO: Mary Franson thinks City Pages blogger should blame his rent increase on Gov. DaytonAt the end of August, there were nearly 2.8 million jobs in Mi ... More >>
On the 12th anniversary of the September 11 attacks, a group called Minnesota 9/11 Truth wants you to think again about what happened that day.SEE ALSO: FEMA yanks Minn. coloring book with 9/11 terror attack image The group has a full-page ad just inside the back cover of today's City Pages print ed ... More >>
According to the most recent government data, the median income in the Twin Cities is among the nation's highest, unadjusted for cost of living.SEE ALSO: Minnesota will be one of the states least affected by sequestration, but it's still going to suckThe median income ranking, put together by Minnes ... More >>
Minnesotans are just hot, period. But recent data indicates our state is particularly hot in the areas of job creation and personal income.SEE ALSO: Economic recovery? What economic recovery? Mpls donut shop hiring... an unpaid internAccording to the latest U.S. Department of Commerce data, per capi ... More >>
What a difference a state makes.SEE ALSO: When dating prospects look bleak, women focus on their careers, new U of M study finds While Wisconsinites have been enduring arguably the worst job market in the country, Minnesota is adding jobs at a clip faster than any seen since Walter Mondale was chall ... More >>
Sen. Julie Rosen, R-Fairmont, believes life is hard -- especially if you're unlucky enough to live near a frac sand deposit.SEE ALSO: Red Wing Mayor Dennis Egan resigns amid frac sand lobbying controversy During a hearing earlier this week about a proposed one-year moratorium on new frac sand mines ... More >>
SEE ALSO:-- The Mpls Federal Reserve breaks down the Great Recession, steady recovery out of it [GRAPHICS]-- Minnesota has regained 48 percent of jobs lost during Great RecessionMinnesota has regained 58 percent of the 147,600 jobs lost during the Great Recession. That puts up ahead of most of the r ... More >>
SEE ALSO:-- Wisconsin lost more jobs than any other state over last yearMary Hoglund, 83, spits in Romney supporter's face during Wisconsin event [VIDEO]-- Michele Bachmann says Romney is best presidential candidate because Obama is too wealthy [VIDEO]Scott Walker became governor of Wisconsin in ear ... More >>
SEE ALSO:-- Obama shouts out Warroad-based, Romney-supporting Marvin Windows [VIDEO]-- Minnesota has regained 48 percent of jobs lost during Great Recession-- Young women become more vain during recessions, U of M prof findsIn the words of one financial policy analyst, the Minneapolis Fed's new brea ... More >>
Wall Street and Washington conspire to destabilize the U.S. economy, one barrel of oil at a time
If it really is all about the economy, stupid, then President Obama's reelection prospects are more precarious this morning than they were yesterday. Obama is in the Twin Cities today. He'll give a speech at Honeywell's Golden Valley facility this morning before heading downtown for a string of fund ... More >>
Strong gains in the private sector helped Minnesota add 15,500 jobs in January, pushing the state's unemployment rate down to 5.6 percent, a level not seen since September 2008.In total, Minnesota has now regained 74,900 of the 156,000 jobs lost during the Great Recession. And believe it not, the ... More >>
In another indication the economy continues to recover, new data shows that Minnesota's job market at the end of 2011 was a helluva lot stronger than it was a year prior. According to the Department of Employment and Economic Development, job vacancies in the state climbed 47.6 percent during the ... More >>
As the stock market rises and unemployment decreases, it's easy to lose sight of just how far the now-possibly-recovering economy fell from the pre-September 11 heights of a decade ago.Here's a reminder -- since 2001, the number of Minnesota children living in high-poverty neighborhoods has nearl ... More >>
Franken wants Fannie/Freddie to put their money where their mouth is. Today, Senator Franken plans to introduce legislation that would help more homeowners refinance their home mortgages, saving them money and, in some cases, helping them keep their homes.Franken's Helping Homeowners Refinance Ac ... More >>
Yesterday, the state Department of Employment and Economic Development announced it has awarded more than $2.2 million in grants to provide services for 585 workers who were recently laid off at eight Minnesota businesses.The grants represent a significant public expense meant to help out-of-work ... More >>
As their numbers increased in the Hennepin County Government Center Plaza this afternoon, more and more chatter rose among the Occupy MN crowd about marching to the Federal Reserve Bank of Minneapolis. The Fed was the originally planned occupation destination, but organizers worried that arrests ... More >>
Al Franken says Obama's jobs plan can't survive political wrangling.Al Franken watched the debate to raise the debt ceiling drag on -- and on, and on -- over party politics. Franken doesn't want to see the same thing happen with Barack Obama's new jobs plan, but he fears it might anyway.America's ... More >>
Michele Bachmann's got a plan, she just won't tell us what it is.Barack Obama gave a speech before a joint session of Congress last night, introducing a wide-ranging second stimulus package to jolt the American economy back to life.Michele Bachmann says it wasn't even a plan, and said there are ... More >>
Bachmann says one thing in public in, and does another in private.Michele Bachmann used federally backed home loans from Fannie Mae or Freddie Mac just weeks before she denounced those programs and called for them to be dismantled, according to the Washington Post. Experts who reviewed the home l ... More >>
Michele Bachmann attributes the Wall Street bailout to Obama, not Bush.Michele Bachmann has flunked American history again. "When he came in as the president of the United States," she said of Barack Obama yesterday in South Carolina, "he decided we had to have this $700 billion bailout of Wall ... More >>
mattlawsFind work here.All you people without a job, take note: Forbes magazine has named Minneapolis the best city in the country for finding a job. We can hear you sharpening pencils for those job application forms right now.
Tim Pawlenty at CPAC today doubled down with the Michele Bachmann wing of the Republican party by insisting that, "We should not -- we should not -- raise the debt ceiling." Like Bachmann, he wants to hang the nation's deficit around Barack Obama's neck. And the line got a round of applause ... More >>
Mark Dayton will be the next governor of Minnesota.Be careful what you wish for, the old saying goes. Mark Dayton took the oath of office as Minnesota's governor at noon, the first Democrat to hold that office in decades.
After getting trounced last year by Sarah Palin, we really thought she had a shot this time around. But once again, Michele Bachmann has been been stiff-armed by the readers of PolitiFact's annual "Lie of the Year" competition. Her whopper:
Merry Christmas, Archbishop.Archbishop John Nienstedt will get an early Christmas present today in the form of 3,000 anti-gay marriage DVDs, some of the 400,000 he ordered sent to his flock in September. A protest group called ReturnTheDVD planned to deliver the disks, along with handwritte ... More >>
"Recession Could End This Year, Fed Chief Says" (Washington Post) vs. "Bernanke: Recovery Will Take Years" (CNN).
Minnesota's horribly unawesome economy won't be getting better any time soon. Suck it up and deal with it, the Federal Reserve Bank of Minneapolis says.
The U.S. House passed the more than $800 billion stimulus package this week. So what will Minnesota get out of it?
The Department of Commerce reported yesterday that Minnesota's per capita income rose to $41,034 last year, good for 11th highest in the land. Once again, we are totally above average.
The working poor choose to get screwed again.
Northwest Airlines hasn't paid taxes on its Duluth maintenance facility since May 2005. Yeah, that maintenance facility, the one Minnesota taxpayers built for it in exchange for the airline's promise to create and retain decent jobs for skilled union mechanics.
In his hour-long appearance on Minnestoa Public Radio's Mid-Morning show today, Governor Tim Pawlenty displayed two of the gifts that make him an effective politician: a relaxed, confident manner and a wonkish capacity to marshall statistics that bolster his arguments. But in sparring with host Kerr ... More >>
How do you create a budgetary "surplus" despite an economy that lags behind the national average in terms of job growth? By pretending inflation and court rulings don't exist.
There is a compelling argument to be made that the defining characteristic of the U.S. economy over the past two decades has been the steady rise in income inequality between classes. Sure, there is some truth to the old Reagan era aphorism that that a rising tide can lift all boats. But there is al ... More >>
The incomes of the poorest fifth and the middle fifth of Minnesota families have grown about half as much as the wealthiest fifth since the early 1980s, according to a recent study by the Minnesota Budget Project. Not exactly news, but there are census numbers to back it up.
Here we go again. At least once or twice a year, the folks in the Pawlenty Administration call a press conference, use the economic forecast to paint an artificially rosy picture of the state budget, and spin themselves a windfall of positive publicity. The irony is, if the Governor and his crew str ... More >>
Today the AP published lists of the US's 10 richest/poorest states and 20 richest/poorest counties. The state list placed Minnesota seventh with a median household income of $50,750 (Connecticut placed first at $56,409). Two Twin Cities metro suburban counties appeared on that top 20 list: Carver at ... More >>
Or maybe in your tap water... The Washington Post reports on a study said to have "profound implications about the nature of human trust." Researchers in Zurich claim that huffing a dose of the hormone oxytocin (its main medical use at present is inducing labor in farm animals) makes test subjects m ... More >>
Boy in the bubble Is Alan Greenspan ready to admit that the housing market is clinically insane? The word of the hour is "froth." A little like foam, a little like scum, the word appeared in nine different articles within the last three days in the Wall Street Journal. In economic terms, "frot ... More >>
Here are some excerpts from Goldman-Sachs's March 14 market note, emphasis added:The Fed's flow-of-funds tables show a further pickup in mortgage equity withdrawal (MEW) to a record $640 billion, or 7.4% of personal disposable income, in 2004. Although cash-out refinancing was down somewhat, this ... More >>
Yesterday's Goldman-Sachs financial markets note contained some astounding numbers about the extent of borrowing against home equity in the US. In 2004 Americans drew down their home equity to the tune of more than half a trillion dollars for the second straight year: $528 billion in '03, $640 bil ... More >>