Minnesota government shuts down

U.S. dollars are counted at a forex exchange inside a shopping mall in Kuala Lumpur.

JEREMY HOBSON: Larry Summers in a moment. But first, to Minnesota where as of this morning the government there is shut down. State lawmakers failed to reach a budget deal.

Chris Low is off this week. We're joined instead by Elizabeth Dunbar, a reporter with Minnesota Public Radio. She's with us live from St. Paul. Good morning.

ELIZABETH DUNBAR: Good morning.

HOBSON: So is everything shut down in Minnesota this morning?

DUNBAR: Well, only the most essential services are still going, so State Patrol, health care. But about 60 percent of state employees are not working. So most of the government offices are shutdown today.

HOBSON: And do those 60 percent not working -- does that save the state a lot of money?

DUNBAR: Well, I've been doing a little reporting on this, and no one has told me that this'll save money. The state is losing revenue from things like the lottery, state parks, and there are a lot of costs associated with delays. So construction is a great example. If there are projects out there that are delayed, those construction contractors are going to go seek penalties from the state later on. And then there's also some worry about the long-term reputation of the state and whether the shut down could affect the state's credit rating or standing among those rating agencies.

HOBSON: The same kinds of things we're seeing at the federal level. Elizabeth Dunbar, reporter with Minnesota Public Radio. Thanks so much for your time.

DUNBAR: You're welcome.

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