Financial Report Gives Michigan a ‘D’ Grade

The Center Square YT

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October 17th, 2023

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Despite receiving federal COVID funds, Michigan's financial condition worsened in 2022. A new report found every Michigander must pay $12,100 to bail the state out of debt. Financial watchdog Truth in Accounting released its 14th annual Financial State of the States report, which provides a comprehensive analysis of the fiscal health of all 50 states based on the latest available data. The report found Michigan ranked 38 out of 50 for finances because it has $47.4 billion but $88 billion worth of bills – a $40.7 billion deficit.

The Center Square YT

The focus of The Center Square's work is state and local level government and economic reporting. A taxpayer sensibility distinguishes our work from other coverage of state and local issues. As a result of this approach, our audiences are better informed about the focus of state and local government and its cost to the citizens whose tax dollars fund governmental decisions.