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Article: Study: Budget woes to remain; State needs changes in how it raises money, spends, group says.
- Article from:
- Crain's Detroit Business
- Article date:
- September 24, 2007
- Author:
CopyrightCOPYRIGHT 2007 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Amy Lane
Lawmakers are inching closer to resolving Michigan's budget crisis this year, but even once they do, they're not out of the woods yet.
A study by the Citizens Research Council of Michigan and the W.E. Upjohn Institute for Employment Research outlines the need for fundamental changes in Michigan's revenue and spending structure and indicates that even if Michigan's economy improves, the state is still going to have budget problems.
"Spending pressures grow faster than revenues, even in a period of uninterrupted national economic growth and in a period of uninterrupted state economic growth,'' said Tom Clay, emeritus director of ...