Houston's Financial Crisis

The Mayor of Houston says the city is 'broke' after overspending for decades, with a $160 million deficit. Former Mayor Turner falsely claimed a $420 million surplus. A tax hike through a bond is expected in November. Houston's population is growing and is expected to rival Tokyo's by 2100.

Minnesota Budget Outlook

Minnesota's budget outlook has improved with a bigger surplus forecast for the current budget, giving the Legislature more breathing room. Corporate tax revenues are up, and a smaller potential deficit is projected for the next two-year budget.