We are now just a few days into the state’s new fiscal year. State Budget Director, John Nixon gives us an update on the state of Michigan’s finances.
Nixon says many states relied on federal stimulus money, and now it's time to look at other options.
“We had a huge infusion of stimulus money and then there was a big cliff because once that stimulus money went away all the states are scrambling saying, “oh my gosh how do we keep our programs whole?” Well that’s what we’ve done. We cut a billion and a half dollars of spending out the budget and we balanced the budget.”
