States of panic

States of panic Salon News
"How much pain remains?
In the chart below, Salon groups the 50 states loosely by relative levels of distress, and then uses figures from the CBPP and the National Conference of State Legislatures to show the amount of red ink for each state and the amount of stimulus cash expected."

Michigan
FY2009 shortfall: $672 million
FY2010 shortfall: $1.6 billion

With its rusting industrial economy, Michigan has had budget shortfalls every year since 2001. Gov. Jennifer Granholm, who will present her plan for discretionary spending in March, intends to use some stimulus funds to avoid planned cuts of $59 per pupil for public education and 3 percent to the higher education budget. But she may still need to make $670 million in cuts, lay off 1,500 government workers, and raise $230 million in new revenues.

Total projected stimulus funding to state: $7 billionFiscal Stabilization Fund: $1 billionMedicaid funds: $2.2 billion

Michigan is the 8th worst state.
We're #8!

Interesting that this article fails to mention out of control spending and the explosion of public employee pay and benefits.