The following article:
http://www.nytimes.com/2012/02/09/us/surplus-surprises-michigan-but-is-it-safe-to-spend-again.html?pagewanted=1&_r=1&sq=michigan&st=cse&scp=3
discusses Michigan's $457 million surplus and the potential plans for this surplus. State officials are investigating as to whether or not Michigan should spend this surplus or save it. Later today, Gov. Rick Snyder is going to propose a new budget that will more than likely address this surplus.
What would you do if you were Gov. Rick Snyder? The demands from the public include more police officers, increased school funding, and fixing roads. Do you think that Michigan should spend this money or save it? Some people argue that the money should be saved for a "rainy day". However as Peter Spadafore, of the Michigan Association of School Boards, puts it “If you’re talking about putting it in a rainy day fund, it’s raining." Are there any potential destinations for this money that you think would help Michigan in their economic recovery?
I find it extremely interesting that Michigan has a surplus. It might just be me, but because of the US's national debt, I tend to forget that the states themselves don't necessarily share that debt in the same way. I find it hard to argue against saving their surplus and building upon it for the future because to me it seems like the US is too willing to jump ahead and spend money even if they don't have it. However, I also with Spadafore's quote saying that if you are waiting for a rainy day then the day has definitely gotten worse enough to justify spending it. I think that if they were to spend it they should attempt to spend it in such a way that they create more jobs for the people of Michigan to help out with their economic recovery.
ReplyDeleteI agree, grant.
ReplyDeleteI think grant makes a great point. I think they should reinvest the surplus into education because of all the cuts made to education in the previous years.
ReplyDeleteI agree it sounds nice to have a surplus but those dollars could be going to something more beneficial. Deficit spending isn't inherently bad. It only really only becomes an issue when it becomes extreme.
ReplyDeleteIt's quite interesting to see that Michigan has a surplus. In order to get michigan back on track I think that some of the money should be spent on the housing market. To be able to create jobs would be the best idea. The school systems could always use more money as long as it's spent wisely. Money well spent is better than money saved in my mind.
ReplyDeleteWe need to use the surplus and invest in something beneficial. I also agree with Grant in that we need to invest in the education system.
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