MPR's Martin Moylan explains what the update means

by Martin Moylan, Minnesota Public Radio

St. Paul, Minn. — The State of Minnesota released its quarterly Economic Update today and there was some encouraging news about state tax revenue.

But, state finance officials say the huge decline in the stock market, growing unemployment, and the mortgage crisis could create a deficit in the state's current two-year budget. Minnesota Public Radio's Martin Moylan talked with Tom Crann about the state's update.