Posted on 05/18/2007 11:02:22 AM PDT by mombyprofession
State gets bad news about economy, budget situation
AP
LANSING, Mich. (AP) - State economists who gathered today to forecast tax revenues and gauge the Michigan economy say it could get worse next year.
The state now faces an 800 million dollar budget deficit for the current fiscal year. This despite some savings that already have been agreed upon by the governor and state lawmakers.
The budget projection for state government is roughly 400 million dollars worse than economists thought it'd be just a few months ago.
That's because fewer tax dollars are coming in and more people are on welfare and Medicaid than previously thought, and state prison spending is up.
Michigan is expected to continue losing jobs in 2008. One reason tax revenue is down is the state's poor housing market, the third-worst in the nation.
I think that says it all.
Liberals in charge of the state....what can one truly expect. Look at MI’s and CA’s demographics and budgets. Blue states. I am sorry for you.
No change, huh? Looks pretty dismal here THIS year...
And yet the root cause never occurs to them - government.
What’s really irritating is that Wayne county (Detroit) carries the rest of the state. Over in the West, we’re overwhelmingly conservative, and way Up North, too.
Too much Union, too little work. Many businesses like my own are starting to explore opportunities in other states. This place (MI) is a joke.
Our Governor believes the solution to all our problems is to raise taxes.
Many have moved out of state and taken their tax $$ with them. Screw the people at your own expense Michigan. Love your ‘Rat leadership now?
I’m the next to move out of michigan. Born and raised here but there ARE NO JOBS!! People are losing their homes left and right and its only getting worse.
Of course everywhere you look there is road work being done on roads that were perfectly fine!!!
Factories are shutting down on a daily basis here.
thousands out of work. Can’t pay their bills. collecting unemployment benefits and wondering what the heck they are going to do when those run out.
People who are working are working for half what they worked for 5 years ago.
Its a full blown recession here and NO ONE is admitting it!
Screw michigan, screw Granholm and screw the people who voted for her!!!
I wonder if Michigan’s senators are going to vote for the so called immigration bill. After all it only allows Mexicans to take jobs that Michigan’s unemployed won’t do. Right?
I know. Same as the rest of the country, ugh CA, NY, FL and their electoral votes.
Mish-i-ganistan. Brought to you by the democrat party of taxation.
BTW, I hear your gov and my gov in NC get drunk, invite their NAMBLA, buddies with some 10 year old boys, laugh, play Twister, and raise taxes when the economy slows. Easley, raided the DOT building fund and the state employees retirement funds (which is strictly forbidden in the state constitution) back in 2002 and 2003.) Now area 'leaders' want to build a toll road to speed up needed construction for congestion from growth from transplant from overtaxed, criminally infested, illegal immigrant infested parts of the country.
Any chance for Michigan to split into separate states? We should do that all over this nation... split states into liberal vs conservative bastions....
I’m so glad we moved to Kentucky... : ))
The only problem, no one is buying our home back in Michigan.. : (
Down here in Northern Virginia, we see commercials with actor Jeff Daniels advertising Michigan as a great place to move your company.
Jeff Daniels will be unhappy.
I wonder how much of the revenue is sent out of state via wages because of State contracts “to get it cheaper”.
Stabenow (D) voted nay. Lenin (D) voted yea.
Wonder if Stab-a-Cow will vote the same this year? She’s got 6 more years.
LOL - I've heard so many people blame Bush for everything that's wrong in MI. The same ones who drive around with granholm bumper stickers.
Talk about irony.
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