Dear Friends,
Looking back now, after two years, we can see that the policies Republicans put in place worked.
We allowed Minnesota’s economy to grow and create jobs.
That $5 billion budget deficit took a dramatic turnaround and grew into a more than $3 billion budget surplus. What was once a 7.5 percent unemployment rate is now 5.3 percent thanks to Republican policies that helped create jobs.
Just last year, 55,000 new jobs were created and 60,000 Minnesotans took a risk and worked hard to start their own business.
Just today, we learned that Minnesota added another 8,400 jobs in May and the state has now recovered 93% of the jobs lost during the recession, well ahead of other states. Many of those jobs were created under the Republican budget..
And the best news is, Minnesota’s economy continues to improve and revenues continue to come in higher than projected.
Here are some key developments which show how Minnesota is on its current path to a healthier economy:
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Revenue Rising: Policies put in place under the 2011 Republican budget have produced over $3 billion dollars more than expected in revenue for the state without raising a single dollar in taxes.
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Long-Term Stability: Budget decisions Republicans made in 2011 not only erased a $5 billion shortfall, but paved the way for a surplus projected for 2016-17.
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Reserves Replenished: Republican surpluses filled the state’s depleted reserves, cash flow account and repaid $1.8 billion to Minnesota schools.
Have a great weekend, and please don't hesitate to contact me if you have any thoughts, suggestions, or questions.
Glenn