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Governor Rick Snyder Releases Report on Financial State of Michigan

John on February 1, 2011 at 9:51 am

The situation in Michigan is not good. You can view the entire report here, but I think a few key graphs really tell the story. The state is spending more than it takes in (click for full size):

Per capita debt far exceeds personal growth in income:

A lot of this money goes to pay public worker salaries (and compensation) that are significantly above private levels:

The state is also on the hook for billions in pensions for these same employees:

I’d say newly elected Governor Snyder has his work cut out for him.

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Category: Energy & Economy |

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