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    Although the national recession may be drawing to a close, it may leave a permanent mark on Michigan through its prized auto industry. Members of the Revenue Estimating Conference downgraded the budget to $1.7 billion for the fiscal year 2010. sending the Granholm administration scrambling for another 8% to cut off the budget. All this without factoring in the great uncertainty over the fate of Chrysler and GM. The former of which has already gone bankrupt and the later driving steadily toward the bankruptcy cliff.

    With sales and unemployment becoming even more inversely proportional, the auto failure couldn't come at a worse time for the state of Michigan. According to State Treasurer Robert Kleine, general fund revenues have fallen a "staggering 21% for the year, compared to a typical 5% in past years.

     

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    Currently, the revenue committee has found a decrease of $3.3 billion in the general fund and School Aid Fund revenue combined. The only question to ask now Is what else could go wrong if the auto industry crashes and explodes causing unemployment to rise another 2.7% above the already dangerously high 12.6%.

     

    Sources:

    http://www.gongwer.com/programming/news_articledisplay.cfm?article_ID=480940102&newsedition_id=4809401&locid=1

    http://mirsnews.com/capsule.php?gid=3080

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    The Michigan Policy Network is a student-led public education and research program to report and organize news and information about the political process surrounding Michigan state policy issues. It is run out of the Department of Political Science at Michigan State University, with participation by students from the College of Social Science, the College of Communication, and James Madison College. 

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    Meet your Policy Fellow: Evan Martinak

    Evan Martinak is state budget policy fellow for the Michigan Policy Network. Evan is from Walled Lake, Michigan on the east side. He is a student in James Madison College, pursuing a major in international relations and also doubling it with an economics major. He intends to pursue a minor in Philosophy of Law. He is highly involved in student government at MSU. He is a member of ASMSU (The Associated Student of Michigan State University) as well as James Madison College Student Senate. He is also an avid Manchester United fan.