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Podcast: Michigan in Focus
Episode: Financial Report Gives Michigan a ‘D’ Grade
Description: Despite receiving federal COVID funds, Michigan's financial condition worsened in 2022. A new report found every Michigander must pay $12,100 to bail the state out of debt. Financial watchdog Truth in Accounting released its 14th annual Financial State of the States report, which provides a comprehensive analysis of the fiscal health of all 50 states based on the latest available data. The report found Michigan ranked 38 out of 50 for finances because it has $47.4 billion but $88 billion worth of bills – a $40.7 billion deficit.
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