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Minnesota State Economist Tom Stinson said Thursday predictions show Minnesota will be in recession through 2009. With him at a Capitol news conference is Finance Commissioner Tom Hanson, a Mahnomen native. Photo by Scott Wente, St. Paul Bureau

Minnesota deficit: $5.3 billion

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ST. PAUL - Minnesota faces an historic $5.3 billion budget deficit.

The deficit for the two-year budget that begins July 1 will be $4.9 billion, with the remaining $426 million coming out of the budget in the next seven months, state officials announced this morning.

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Minnesota's two-year budget is $34 billion.

Most of the problem is from lower-than-expected revenue, State Finance Commissioner Tom Hanson said.

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