February budget forecast tomorrow

The February budget forecast is being released tomorrow, and the consensus is that it is a bit too early to start spending that surplus. Sure, there may be an announcement tomorrow that there is more revenue than expenses for the rest of the fiscal year. But that could change if the state can no longer collect Pawlenty's health impact "fee". In addition, even if the state can keep all of the tobacco money, all of the surplus is already set aside for paying back school districts to undo an accounting trick used to balance the budget the last time around.

In other words, put the champagne and spending plans on the shelf for now.