Financial Viability Analysis of Michigan Analytical Essay by Nicky

An analysis of the economic status and viability of the state of Michigan.
# 145819 | 2,807 words | 8 sources | APA | 2010 | US
Published on Nov 29, 2010 in Economics (National) , Economics (Public Finance)


$19.95 Buy and instantly download this paper now

Description:

This paper focuses on the current and future economic status of the state of Michigan. The paper provides a demographic and economic analysis, and discusses Michigan's budget process. The paper asserts that laws governing budget use should be changed so that excess funds are returned to taxpayers, explaining that if the state returned the $10.13 billion to the people, the State's economy would have grown by $2.025 per capita, or five times that claimed by the federal government for the US economy, while business incomes would have increased two times or more. The paper concludes that unless budget flaws are corrected up front and all state finances are used in the budget process, the problems surrounding surpluses will remain; reported deficits can be used and re-used year after year, rather than used as excuses to increase taxes or reduce needed services.

Outline:
Overview
Administrative
Demographic and Economic Analysis
The Budget
Budget Process
Revenue and Expenditures Analysis
Financial Management
References

From the Paper:

"Among the elected executive officials are the governor and lieutenant governor, the secretary of state, and the attorney general (BNET US, 2004). They all serve a term of four years. They are elected in even-numbered years between U.S. presidential elections. The governor and the lieutenant governor must be no less than 30 years old and a registered voter in the State for at least four years before the election. The governor may serve only up to two consecutive terms. He appoints the members of the governing boards and the directors of executive departments. An exception is the head of the Department of Education who is appointed by the State Board of Education. This Board and the trustees of Michigan State University, the University of Michigan and Wayne State University are all elected. Trustees serve for 8 years (BNET US)."

Sample of Sources Used:

  • BNET US (2009). State of Michigan. Worldmark Encyclopedia of the States: CBSInteractive, Inc. Retrieved on January 3, 2009 from http://www.findarticles.com/p/articles/mi_qx5210/is_2004/ai_n19125947?tag=content;col1
  • BNT.com (2005). Cities of the United States. Retrieved on January 3, 2009 from http://www.findarticles.com/p/articles/mi_qx5213/is_2005/ai_n19131024?tag=content;col1
  • Kellogg, S (2007). Michigan's economy backpedaling, study shows. Kalamazoo Gazette: Food Bank of South Central Michigan. Retrieved on January 7, 2009 from http://www.foodbankofscm.org/MichiganEconomy2007.htm
  • Klatt, G. R. (2003). Review of the state of Michigan. Comprehensive Annual Financial Reviews. Retrieved on January 6, 2009 from http://www.cafrman.com/Articles/Art-MI-S1htm
  • State of Michigan (2008). Budget process. Michigan.gov. Retrieved on January 3, 2009 from http://www.michigan.gov/textonly/0,2964,7-157-11460-34950--,00.html

Cite this Analytical Essay:

APA Format

Financial Viability Analysis of Michigan (2010, November 29) Retrieved November 12, 2019, from https://www.academon.com/analytical-essay/financial-viability-analysis-of-michigan-145819/

MLA Format

"Financial Viability Analysis of Michigan" 29 November 2010. Web. 12 November. 2019. <https://www.academon.com/analytical-essay/financial-viability-analysis-of-michigan-145819/>

Comments