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.
Bad business model.
Go with the moving business.
Or, go with a “vacant home maintenance” model, but demand cash up front each month, and be prepared to cut those who don’t pay.
I live in the central part of the lower peninsula.
Yeah- these union people up here really believe that nafta and cafta are what’s causing our problem. Our problem is that union workers have ridiculous benefits, and make $26 an hour with a high school diploma!!!!
Companies can’t afford American workers. Theysaid on the news the other night that they are actually LOOKING to bring MORE migrant workers up here because they can’t find enough people to work on farms. But the Unemployment rate is at 7.2 percent!!!!!
I grew up on the east coast, my job moved me to southern michigan. My family of optimists have really tried to make a life here for the past 10 years.
We are through.
I would list the reasons but they would only be a repeat of all the previous posts.
A Michigan friend of mine recently hired by a firm in Louisville just returned from a house hunting trip. He was absolutely giddy with excitement to leave Michigan.
We’ve met so many great people who are working hard to get ahead in their jobs and businesses yet I deal with many more who believe their jobs are an entitlement and seniority rules the day (my company is non-union, btw).
The negatives we’ve encountered during our ten years here far outweigh any positives.
Anyone reading this and considering, God help you, moving to this state, then prepare yourself for high taxes, high cost of living, the prevailing union attitude, liberal government and awful weather.
You’ve been warned.
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