LANSING (WWJ) – It’s been awhile, but Michigan appears to be “back in the black” this year.
State Treasurer Andy Dillon and directors of both the House and Senate fiscal agencies met in Lansing Friday – projecting state revenues.
Job growth is expected to continue, but slowly, compared to 2011 … and the state, according to WWJ Lansing Bureau Chief Tim Skubick, should post a budget surplus this fiscal year of $457 million – in an overall state budget of $40 billion.
Skubick says the surplus number must be put in perspective against the backdrop of a $40 billion budget – so a couple of hundred million dollars in the surplus is not that big of a figure in context to the states’ overall budget.
The question comes down to whether or not the state will save the money or how will it be spent.
University of Michigan economist George Fulton believes job growth will continue, but it will be slow this coming year -estimating 26,000 new jobs will be added.
Governor Rick Snyder’s next budget plan is scheduled to be presented Feb. 9th.