New deficit plan cuts $10B in Minnesota farm subsidies

The plan will also cut federal contributions to crop insurance programs and land conservation programs. Obama has proposed a total of $3 trillion in deficit reduction.
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The plan will also cut federal contributions to crop insurance programs and land conservation programs. Obama has proposed a total of $3 trillion in deficit reduction.

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A smaller crop of farming subsidies

Federal funding may soon drop for Minnesota farmers. Lawmakers in Washington are close to a deal that would reduce agricultural subsidies nationwide. The proposal would save $23 billion dollars over 10 years.

Minnesota students protest proposed cuts in federal grants

Students at Minnesota's state colleges and universities say they'd lose $76 million in aid if proposed cuts in the Pell Grant program are enacted. They're petitioning the Congressional delegation to reject the cuts, which they say would push students deeper into debt.

Minnesota to give up $1B in tobacco bonds to plug budget deficit

The state government will only get about half of that sum by asking for the money now in order to temporarily plug the state's budget deficit. Gov. Mark Dayton and lawmakers voted to borrow against the tobacco money in order to avoid tax increases and additional spending cuts.

Minnesota Orchestra cutting jobs

The Orchestra is grappling with a $2.9 million deficit. The 16 jobs being eliminated include positions in public relations, marketing, and finance but no musicians.

Slow growth means Minnesota will likely face another budget deficit

The state's top economist says growth just isn't what it needs to be to keep the state in the black. The governor and the Legislature based their previous budget deal on growth of about 3.2 percent. Unfortunately, that's not what we're seeing, and that means Dayton and legislators will likely have to wrestle over another deficit soon.

Obama endorses cutting one day of mail delivery

It's part of his economic growth and debt reduction plan unveiled today. The Postal Service has been considering closing more than 100 post office locations in Minnesota and cutting 120,000 jobs nationwide.