Minnesota’s budget deal has been criticized for irresponsible borrowing, namely from tobacco funds and schoolchildren. It does, however, contain an example of smart borrowing: a $500 million bonding bill that will invest in our future and put Minnesotans back to work in the short term.
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The dire condition of Minnesota’s construction industry makes these projects even more important. Construction employment began declining after the housing bubble peaked in late 2005 and took a nosedive when the downturn began in late 2007.
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