On Wednesday afternoon, state economic officials will present their important forecast. It’s the one that sets parameters for lawmakers building a new budget.

We already know the top line items: the state is on track to have a smaller cushion in the next budget than was previously predicted. And Minnesota could have a nearly $6 billion deficit in the budget two years down the road if lawmakers stay on the course they’re on now.

MPR News senior politics reporter Dana Ferguson joined Minnesota Now for an update.