Michigan

Michigan

  • Michigan is a Sinkhole State and has the 9th worst per Taxpayer Burden
  • Michigan has only $23 billion to pay the state's bills totaling $81 billion
  • To fill its $58 billion financial hole, each taxpayer would have to send $19,300 to the state
  • The Michigan financial statements clearly report $4 billion of retirement liabilities, but in reality the state has nearly $55 billion of unfunded retirement promises
  • The Michigan Taxpayer Burden is 49% of an average citizen's personal income of $39,215
  • Outbound moves from Michigan were 54%, the 16th highest of all the states, which usually means more people are moving out of the state
For a comprehensive look into the state's financial position, read the Michigan Financial State of the State

Link to MI CAFR:   Michigan Comprehensive Annual Financial Report

Publishing Entity:  Michigan State Budget Office

Truth in Accounting’s methodology is unique, analyzing all state assets and liabilities, including unreported pension and retirement health liabilities. 

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