Rick Snyder, Public-Sector Benefits [Mackinac Center]
"Early indications are that our new governor is acting boldly and wisely in his attempt to right size Michigan’s fiscal ship.
That’s good news, and he should be applauded, in part due to the fact that he will need the moral support.
Why?
The budget is in worse shape than even he and members of the media have probably fathomed.
I’m not the first budget analyst to notice this, but I may be the first to say it out loud.
With the year’s first state revenue estimating conference scheduled for Jan. 14, it is time to flesh out a few important issues.
First, it could be argued that the widely reported and official state deficit estimate for the fiscal 2012 General Fund/General Purpose budget is understated by at least $200 million."
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