(Bloomberg) -- Michigan, bleeding jobs even as its
Rust Belt neighbors begin to prosper, has an $803 million hole
in this year's state budget that could force layoffs of
government workers and cutbacks for schools and health care
starting June 1.
That's when the state's cash flow will dry up, as it faces
a fiscal crisis rooted in dependence on General Motors Corp.,
Ford Motor Co. and DaimlerChrysler AG's Chrysler unit. The three
carmakers lost a combined $15.3 billion last year. Michigan and
hurricane-ravaged Louisiana were the only two U.S. states to
shed jobs in 2006.
Read more at Bloomberg Exclusive News
Rust Belt neighbors begin to prosper, has an $803 million hole
in this year's state budget that could force layoffs of
government workers and cutbacks for schools and health care
starting June 1.
That's when the state's cash flow will dry up, as it faces
a fiscal crisis rooted in dependence on General Motors Corp.,
Ford Motor Co. and DaimlerChrysler AG's Chrysler unit. The three
carmakers lost a combined $15.3 billion last year. Michigan and
hurricane-ravaged Louisiana were the only two U.S. states to
shed jobs in 2006.
Read more at Bloomberg Exclusive News
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