Tim Walz Gets Brutal Update While Potential Run For POTUS Gains Little Steam

Minnesota Governor Tim Walz is confronting significant political headwinds as he contemplates a potential run for the presidency in 2028. Recent developments, including a substantial projected state budget deficit and questions about Democratic leadership, have cast a shadow over his national aspirations.​

Minnesota’s latest budget projections reveal that the state’s looming deficit has ballooned to nearly $6 billion—an increase of $1 billion from previous estimates—further highlighting the economic challenges under Democratic leadership. The Minnesota Management and Budget office released the updated figures on Thursday, showing a worsening financial outlook for the 2028-29 fiscal year.

In November, the state was already staring down a projected $5 billion shortfall. Now, that deficit has climbed to nearly $6 billion, painting a troubling picture of Minnesota’s economic trajectory.

In the near term, the state’s financial forecast continues to deteriorate amid heightened economic and fiscal uncertainty. The projected budget balance for fiscal years 2026-27 has been revised downward to $456 million, a $160 million drop from prior estimates.

The shift is driven by higher-than-expected inflation, which has increased both revenues and expenditures. However, spending growth is set to outpace revenue growth through fiscal year 2029, exacerbating long-term financial pressures.

The financial debacle couldn’t come at a worse time for Walz, who has been hinting at a White House bid following his failed run as Kamala Harris’ running mate in the 2024 election. The Harris-Walz ticket suffered a decisive defeat, with Donald Trump securing a landslide victory of 312 Electoral College votes to 226.

Chicago, Illinois- August 21, 2024: Minnesota Governor Tim Walz at the Democratic National Convention.

Democrats took a beating across the board, losing key Senate and House races, as well as gubernatorial contests nationwide. Despite the devastating loss, Walz has not ruled out a future presidential bid. In a recent interview on The New Yorker Radio Hour, the Minnesota governor entertained the possibility of a 2028 run.

“Look, I never had an ambition to be President or Vice-President. I was honored to be asked,” Walz said. “If I feel like I can serve, I will. And if nationally, people are, like, ‘Dude, we tried you, and look how that worked out,’ I’m good with that.”

Pressed further on his ambitions, Walz admitted he would “certainly consider” running if he believed he had something to offer. But with his state’s fiscal health in shambles, it remains unclear what exactly he believes qualifies him for the presidency.

Meanwhile, his relationship with former running mate Kamala Harris appears to have cooled. Walz revealed that their post-election communication has been minimal, with only “a couple” interactions since the loss.

He even speculated that Harris may be avoiding him. “Well, maybe she doesn’t want to talk to me after we got this thing done,” he joked.

Instead of taking full responsibility for his and Harris’ defeat, Walz has turned his focus to attacking Trump. “I don’t think you can underestimate how far [Trump] will go,” he warned, calling for a “firewall” against the president’s policies. Yet, it is Walz’s own leadership that is now under scrutiny as Minnesota’s finances continue to deteriorate.

The Minnesota governor recently passed on running for an open U.S. Senate seat in his state, signaling that his focus remains on a potential national campaign. However, as the state’s budget deficit spirals further out of control, Walz’s leadership is facing serious doubts.