Michigan : State Data and Comparisons : State Data Lab
Publishing Entity: Michigan State Budget Office
- Michigan has only $23 billion assets available to pay the state's bills totaling $81 billion
- To fill its $58 billion financial hole, each Michigan taxpayer would have to send $19,300 to the state
- This $19,300 Taxpayer Burden is 49% of an average citizen's personal income of $39,215
- Michigan is among 41 "Sinkhole States," without enough assets to cover their debt
- Michigan "Outbound Moves," were 54% of total, making them the 16th worst of all the states
2 comments:
It would be interesting to see charts on all five of your bullet points and also to see if additional progress has been made in 2014. One hint of encouragement is that it takes a minimum of 1-2 years for new policies to have an impact on numbers such as have reported and the corrolary to that is that the effects of previous policies will continue for about two years even after new policies are adopted. There appears to be considerable improvement in 2013. We can hope that has contiued in 2104. But, we know that it is always more fun to give away other people's money than to cut expenditures.
Very true. A half-truth could easily be a lie.
I believe the best measure of an administration's conservative or liberal bent is the growth of discretionary government during their tenure.
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